The initial public offering (IPO) of FSN E-commerce Ventures, which operates Nykaa, an online marketplace for beauty and wellness products, will open on October 28. Under the public offer, equity shares will be available for bidding in the price band of Rs 1,085-1,125.

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Nykaa's IPO is expected to lead the company's six top executives to profit a total of more than Rs 850 crore ($115 million) through their shareholdings and vested options.

The six executives are in charge of various departments inside the online retailer of beauty, health and fashion items.

The three-day Nykaa IPO will end on November 1. The IPO includes a fresh issue of equity shares worth Rs 630 crore as well as an offer for sale (OFS) of 41,972,660 equity shares by the promoter and existing shareholders, according to the company's draft red herring prospectus (DRHP), issued by the market regulator Securities and Exchange Board of India (Sebi).

Also Read: Nykaa IPO: First-mover advantage to help company grow 25% over next 5 years, says Elara Securities

According to the company's DRHP, with 2.1 million shares and 0.12 million employee stock options, Reena Chhabra, the CEO of the company's private-label business FSN Brands, expects to profit a total of Rs 250 crore (ESOPs). Since May 2016, Chhabra has been connected with FSN Brands. In FY21, the total payment made to her was Rs 3.06 crore.

Nykaa's Man Business' CEO, Nihir Parikh, has more than two million shares and 0.12 million Esops (employee stock ownership plan) valued at Rs 245 crore. He began working for the company in 2015 and drew Rs 2.83 crore in FY21 as salary.

Sanjay Suri, chief technology officer, Nykaa E-Retail owns 1.8 million shares and 0.15 million Esops for a total of Rs 220 crore. In FY21, Suri, who joined the company in 2016, was paid Rs 2.39 crore as salary.

Also Read: Nykaa set to launch Rs 5,352-crore IPO on October 28: All you need to know

Nykaa E-Retail's chief supply chain officer, Manoj Jaiswal has shares and options worth Rs 63 crore, and the company's chief financial officer, Arvind Agarwal, owns shares and options worth Rs 45 crore. Gopal Asthana, the chief business officer of Nykaa Fashion, has shares and options worth Rs 29 crore.

Founded in 2012, Nykaa is a digitally native consumer technology platform, delivering a content-led, lifestyle retail experience to consumers. It has a diverse portfolio of beauty, personal care and fashion products, including its brand products manufactured by third-party manufacturers.

In FY2021, 17.1 million orders were placed on Nykaa's platform for beauty and personal care products with a total GMV of Rs 33,804.1 million, a 35.3 per cent increase over FY2020. Apart from its online presence, the company also has 38 Luxe stores, 32 On-trend stores and 9 kiosks.

First Published:Oct 26, 2021 1:50 PM IST