FSN E-Commerce Ventures Limited (Nykaa), an Indian technology-led lifestyle retail unicorn, got listed on Indian stock exchanges on November 10, 2021, after a successful initial public offering (IPO) of equity shares. This was one of the first IPOs by an Indian unicorn in the e-commerce retail industry. The IPO was over-subscribed 82 times and debuted on the bourses with a listing premium of ~90%, crossing a market capitalisation of over INR one lac crore, making it one of the most successful IPOs thus far.
Trilegal advised all of the 15 investor selling shareholders in Nykaa who were both private equity funds and high net worth individuals including TPG, Two Lighthouse entities, JM Financial, Yogesh Agencies & Investments Private Limited, Sunil Kant Munjal, Banga Family, on their stake sale of equity shares as part of the IPO which aggregated to INR 53.4 billion.
The Trilegal team advising on the IPO comprised Partners Richa Choudhary, Bhakta Patnaik, and Associates Maitreya Rajurkar, and Sanya Chaudhari. The corporate team on the transaction comprised Partners Yogesh Singh, Ankush Goyal, and Associate Rohan Kohli.
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