App-based Indian cosmetics retailing startup Nykaa plans to go public by early 2022 at a valuation of more than $3 billion according to a person aware of the matter.
Private equity firm TPG-backed Nykaa’s plans for an initial public offering comes after good subscriptions and successful listings such as Everstone Capital-backed Burger King India, and Blackstone-backed Mindspace Business Parks.
Nykaa also counts India’s Hero Enterprise and Fidelity Management, LLC among its backers, according to media reports.