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Beauty and Wellness Company Nykaa Raises Funding from Max Ventures

by Chinmay Bidkar
December 9, 2016
in News
Reading Time: 1 min read
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09 December 2016, India :

Nykaa has roughly raised around Rs. 16 crore in turn of 1.99% stakes. Max I Ltd (a wholly-owned subsidiary of Max Ventures and Industries Ltd) has acquired 2,69,955 shares of Rs 10 each of FSN E-Commerce Ventures Private on December 8, 2016, which represents its 1.99 per cent equity capital as per BSE filing.

Founded in 2012, Nykaa is India’s premier online destination for beauty & wellness. With over 200 brands, 6000 products and delivery across India, it strives to be the one-stop-shop for the consumer. The company retails only 100% authentic products sourced directly from brands (a rarity in the market!) and provide a superior delivery experience – all reinforcing a deep commitment to the customer.

Founder and CEO Falguni Nayar told PTI in August that Nykaa will be raising about Rs. 80 crore by diluting 10% of equity. The online retailer is also looking at omni-channel presence to achieve growth targets and plans to open nearly 26 more outlets by 2020. PTI

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Chinmay Bidkar

Curious, Keen Observant & Dynamic! Chinmay finds peace in meeting people who work hard for humanity. He has new found interest in Gadgets and Techs and at Techstory he gets to write about it! Reach out at- [email protected]

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