Nykaa's debut | Curefit is 36th 🦄 | PharmEasy IPO

Nykaa made a blockbuster debut on Dalal Street, Zomato investments turn Curefit to unicorn, PharmEasy files IPO, Funding Deals & more.

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Nov 11, 2021

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Nykaa’s market-cap crosses Rs 1 lakh crore on listing day💄

Shares of FSN E-commerce Ventures, the parent company of Nykaa, made a blockbuster debut on Dalal Street earlier today. The company's shares were listed at Rs 2,001 each on the BSE, a hefty premium of 77.87% over its issue price of Rs 1,125. On the NSE, the shares were listed at Rs 2,018 each, a premium of 79.38%.

By 3.10 pm, FSN’s share price had risen to Rs 2,206, giving it a market cap of about Rs 1.03 lakh crore and making its founder Falguni Nayar one of the 20 richest people in India. The share price remained more or less flat for the rest of the day, hitting a high of Rs 2,248 before closing at Rs 2,208 on the NSE.

Nykaa, founded by former investment banker Falguni Nayar, operates in the beauty and personal care segment both online and offline.

It is one of India’s few profitable startups, having made a profit of Rs 61.95 crore in FY21 after a loss of Rs 16.34 crore in FY20. It reported revenue of Rs 2,440.89 crore in FY21, 38.1% up from the previous year.

Zomato investments turn Curefit to unicorn valued at $1.5 bn🥗

Food delivery and restaurant aggregation platform Zomato Ltd has acquired a 6.4% stake in Curefit Healthcare Ltd via twin deals, making it the 36th billion-dollar company, or unicorn, at $1.5 billion.

Zomato’s $100 million deal with Curefit is two-fold -- it sold sports facilities provider Fitso ( operated by Jojo Technologies) to Curefit for $50 million while also making a separate $50 million cash investment in the health and wellness business.

CureFit Healthcare was founded in 2016 by Mukesh Bansal, who earlier co-founded fashion e-commerce platform Myntra (which was acquired by Flipkart) and former Flipkart executive Ankit Nagori.

The company is expected to announce investments in business discovery and rewards platform Magicpin, fitness startup Curefit, and logistics aggregator Shiprocket, according to people aware of the development. Zomato co-founder and CEO Deepinder Goyal was appointed as an independent director on Magicpin’s board in July.

Last-mile distribution provider, Xpand, has raised $1.5 million from several high net-worth individuals (HNIs), as a part of its pre-Series A funding round.

Fintech-driven agriculture service platform, Unnati Agri has raised ₹60 crores in a Series A funding round from Incofin Investment Management, NabVentures, and Orios.
Troo Good, a millet snacks maker, has raised ₹55 crores in its Series A funding round led by investment firm OAKS Asset Management.

PharmEasy parent files draft papers for Rs 6,250-crore IPO💊

API Holdings, the parent company of India’s largest e-pharmacy platform PharmEasy, has filed a draft red herring prospectus (DRHP) with markets regulator Sebi for a Rs 6,250 crore initial public offering (IPO).

The company may also consider a further issue of equity shares via a private placement of up to Rs 1,250 crore, it said in its DRHP.

The company plans to use funds it raises to prepay or repay all or a portion of its outstanding borrowings to the tune of Rs 1,929 crore. It plans to use Rs 1,259 crore for funding organic growth initiatives and another Rs 1,500 crore on inorganic growth opportunities through acquisitions and other strategic initiatives.

With this, PharmEasy will join a slew of startups that have launched IPOs this year, including Zomato, Paytm, Nykaa and Policybazaar.