Falguni Nayar in Mumbai, India.
The India Today Group via Getty Images
Veteran investment banker-turned-entrepreneur Falguni Nayar, who has led scores of Indian companies to public listings as a banker, is now pursuing an IPO of her own as at a valuation of $7 billion to $7.2 billion for the beauty and fashion retailer Nykaa which she founded in 2012.
The Mumbai-based multi-brand retailer of cosmetics and apparel plans a fresh issue for 6.3 billion rupees ($86 million) and the sale of existing shares of almost 42 million shares in the price band of 1,085 to 1,125 rupees.
The IPO will launch on October 28 and the issue closes on November 1. Nykaa is looking to list on the Indian bourses on November 11, a few days after the Hindu festival of Diwali.
Nayar, 58, the founder, managing director and CEO of Nykaa, owns 54% of the company, along with her husband Sanjay Nayar, India CEO of U.S. private equity giant KKR, and their two children. She is looking…