Nykaa, affiliated with the internet fashion and beauty retail platform, is raising 125 crore rupees (nearly 15 million dollars) through non-convertible debentures. The Nykaa board has approved issuing around 12,500 non-convertible debentures at an issue price of 100,000 rupees each to raise 125 crore rupees on a private placement basis in dematerialized form, as per a stock exchange filing. The filing added that the debentures will be allotted to a foreign portfolio investor, though Nykaa did not name the investor. Nykaa draws a majority of its revenue from the sale of beauty, personal care, fashion and other merchandise across platforms. Its revenue grew 24.1% to 6,386 crore rupees in financial year 2024 from 5,144 crore rupees in financial year 2023. The company saw a 90.5% jump in profit to 40 crore rupees in financial year 2024 from 21 crore rupees in the previous 12-month accounting period. The company has guided for 22-23% growth for the first quarter of financial year 2025. Alongside the Q4 results, Nykaa also announced new employee stock option (ESOP) allotments for team members, with the objective of increasing employee ownership and to attract, retain and motivate talent to drive sustainable growth.
