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startup | IST

Startup Street: Nykaa's bumper IPO; Good Glamm Group enters unicorn club and Postcard's journey so far

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Nykaa's stock opened on Dalal Street above Rs 2,000 a share helping the company's market capitalisation hit the Rs 1-lakh crore mark. That makes Nykaa the 55th largest Indian company by market cap and it is valued more than Britannia, Info Edge, Indigo and others

Content-to-commerce conglomerate, the Good Glamm Group has entered the unicorn club as it raised $150 million in its series D round of funding co-led by Warburg Pincus and Prosus Ventures earlier known as Naspers.
The brand is now valued at $1.2 billion and claims to be India's first direct-to-consumer (D2C) beauty and personal care company to reach the unicorn status. CNBC-TV18 caught up with Darpan Sanghvi, Group Founder and CEO of Good Glamm Group and asked him what the unicorn status means for the company.
Moving on, everyone these days are keen on travelling and trying out new cuisines. This week on 'Boost with Facebook', Start-up Street brings to you food from different parts of India.
Further, Ashish Nichani and Sudarsan Metla launched Postcard in 2019, creating a platform for regional snacks and snacks makers, so that their products can reach homes across the country. The co-founders of Postcard spoke to CNBC-TV18 about their journey so far and how they see things pan out for the company.
Moreover, it was a blockbuster Dalal Street debut for online beauty products and fashion retailer Nykaa. The stock opened above Rs 2000 a share helping the company's market capitalisation hit the Rs 1-lakh crore mark. That makes Nykaa the 55th largest Indian company by market cap and is valued more than the likes of Britannia, Info Edge, Indigo and others, making founder and CEO Falguni Nayyar the richest self-made female billionaire in the country.
Falguni Nayar spoke to CNBC-TV18 about what Nykaa intends to do with all the capital it has raised.
Meanwhile, the mega Paytm IPO closed on November 10 with the offer being fully subscribed and seeing strong retail interest. The IPO was subscribed 1.89 times, with the retail category subscribed 1.66 times.
The QIB category saw strong demand and was subscribed 2.79 times but what is interesting is that nearly 99 percent of the bids under the category came from foreign institutional investors (FIIs), while the response from domestic financial institutions and mutual funds was tepid at just about 1 percent of the bids under the QIB category.
Stronger foreign interest and low domestic institutional demand was reflected even in the company's anchor book, which saw big global names such as Blackrock, Canadian Pension Plan Investment Board, and GIC, but only 4 domestic mutual funds participated in the anchor round.
However, the retail interest was definitely strong, with the category seeing a subscription of 1.66 times on the final day of the IPO. So overall, it was a strong foreign demand for the biggest IPO in India so far.
To know more, watch the complete video.