Nykaa, India’s leading beauty and personal care e-commerce platform, is preparing to raise Rs 125 crore (approximately $15 million) through the issuance of non-convertible debentures (NCDs).
In a recent regulatory filing, Nykaa disclosed that its board has authorized the issuance of up to 12,500 NCDs, each with a face value of Rs 1 lakh. These debentures will be issued in dematerialized form on a private placement basis to an undisclosed foreign portfolio investor.
The proceeds from this issuance are intended to bolster Nykaa’s growth and support its operational requirements.
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