Nykaa plans 2022 IPO with $3 Billion valuation

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.

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