Nykaa Converts its Status from Private Company to Public Company Ahead of IPO
Nykaa Converts its Status from Private Company to Public Company Ahead of IPO

Ahead of its initial public offering (IPO), Nykaa has converted its status from a private company to a public one. The omnichannel beauty and personal care products retailer is now named FSN E-commerce Ventures Ltd.

In doing so, Nykaa follows firms like CarTrade, MobiKwik, Paytm, and PolicyBazaar that are also gearing up to go public soon.

“The company is proposing to undertake an initial public offer of its equity shares of the face value of Re 1 each by way of fresh issuance of equity shares and/ or an offer of sale of such a number of equity shares by certain of the existing and eligible shareholders of the company. The equity shares are proposed to be listed on one or more of the recognized stock exchanges in India,” Nykaa wrote in its filings to the Registrar of Companies (RoC).

The firm will likely file its draft red herring prospectus (DRHP) with capital markets regulator Securities and Exchange Board of India (Sebi) in a few days. It is eyeing to raise $700-750 million from its IPO at a valuation of $4-5 billion.

Nykaa has roped in investment banks Kotak Mahindra Capital, Citibank, ICICI Securities, Morgan Stanley, and Bank of America to manage its public issue.

 
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Retail India News: Hindustan Coca-Cola Beverages Strengthens Industrial Footprint in Madhya Pradesh
Retail India News: Hindustan Coca-Cola Beverages Strengthens Industrial Footprint in Madhya Pradesh
 

In a strategic move reinforcing its commitment to Madhya Pradesh's economic landscape, Hindustan Coca-Cola Beverages (HCCB), a prominent FMCG player in India, has disclosed a Rs 350 crore investment in the state. This announcement, made during a meeting between the Chief Minister of Madhya Pradesh, Dr. Mohan Yadav, and a senior HCCB delegation, propels the company's cumulative investment in the state to over Rs 660 crore.

The capital injection will fuel the establishment of two cutting-edge manufacturing lines at HCCB's Rajgarh factory, dedicated to producing Affordable Small Sparkling Packs (ASSP) and Juice Tetra Packs. Beyond expanding manufacturing capabilities, this move is poised to make a substantial contribution to the state's economy. With a robust network of 149 distributors and 127,080 retailers, HCCB plays a pivotal role in Madhya Pradesh's retail sector, distributing approximately 10 million cases across 29 districts.

In reciprocation, the Madhya Pradesh Government has committed comprehensive support to expedite HCCB's procurement of necessary permissions, approvals, and clearances, aligning with the state's policies and regulations.

Himanshu Priyadarshi, Chief Public Affairs, Communications, and Sustainability Officer at HCCB, stated, “This investment is a significant step in our journey with Madhya Pradesh - a state that is poised for growth and development. We see this as an opportunity to deepen our commitment and align our growth with the state’s vision. This is more than an expansion of our business operations; it is about reinforcing our roots in a state that is key to our market strategy and a hub for innovation. We envisage this project as a catalyst not only for regional economic growth but also as a conduit for nurturing local talent, thereby contributing to the socio-economic progress of Madhya Pradesh.

Having invested over Rs 311 crore in Madhya Pradesh since 2000, including recent expansions in 2022 and 2023, HCCB has consistently demonstrated its commitment to enhancing production capabilities and supporting the local economy. This latest financial commitment not only cements its industrial presence in the state but also aligns with HCCB's dedication to delivering innovative and high-quality products to consumers in Madhya Pradesh.

HCCB's engagement in Madhya Pradesh transcends business investments, extending to Corporate Social Responsibility (CSR) initiatives. These projects focus on water rejuvenation, skill development, and sustainable agriculture. Notably, the initiatives have impacted 1200 youths in sales and marketing training, 1500 women in digital and financial literacy, and over 100 farmers in adopting sustainable agricultural practices. Additionally, HCCB has facilitated the installation of water ATMs and Smartboards, contributing to community resources.

 

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