![Nykaa, an online marketplace for fashion and beauty products, is using non-convertible debentures to secured around $15 million.](https://startuprise.org/wp-content/uploads/2024/07/Copy-of-90-Million-2024-07-24T110755.849.webp)
Nykaa, an online marketplace for fashion and beauty products, is using non-convertible debentures to secured around $15 million.
According to the statement Company filed with the National Stock Exchange, the board resolved to offer up to 12,500 non-convertible debentures (NCDs) at an issue price of Rs 1,00,000 each in order to raise Rs 125 crore through private placement in a dematerialised manner.
The report also said that a foreign portfolio investor will receive the debentures. Nykaa withheld the investor’s identity, though.
Despite not disclosing the reason for the loan raise, Nykaa intends to spend $2.5 million in one or more tranches in Nysaa Beauty, a subsidiary located in the United Arab Emirates. The company has one affiliate, Earth Rhythm, and fourteen subsidiaries.
The majority of Nykaa’s income comes from selling fashion, personal care, cosmetics, and other goods and services on several platforms.
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From Rs 5,144 crore in FY23 to Rs 6,386 crore in FY24, It’s operating revenue increased by 24.1%. The company reported a 90.5% increase in profit from Rs 21 crore in the previous fiscal year to Rs 40 crore in FY24.
The first quarter of FY25 is expected to see growth of 22-23% according to the firm.
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Nykaa also revealed new employee stock option (ESOP) choices for its staff ahead of the Q4 results. In addition to encouraging employee ownership, the goal of growing the ESOP pool was to draw in, keep, and inspire talent in accordance with business expansion.
About Nykaa
Nykaa is a Mumbai-based e-commerce startup. Website, mobile app, and over 100 shopfronts sell beauty, wellness, and fashion products. The first female-led Indian unicorn startup was launched in 2020.