Law firms counsel India's biggest online marketplace for beauty products

Law firms counsel India's biggest online marketplace for beauty products

AZB & Partners, Cyril Amarchand Mangaldas and Trilegal guide Nykaa

After the markets regulator Securities and Exchange Board of India (SEBI)'s recent go-ahead to certain companies to unveil their initial public offering (IPO), FSN E-Commerce Ventures (Nykaa) launched its IPO.

The IPO comprised a fresh issue aggregating up to approximately Rs. 6,300 million, and an offer for sale of up to 41,972,660 equity shares by the selling shareholders. The deal also comprised an offer for the sale of over 4 crores equity shares by the selling shareholders.

AZB & Partners is the legal counsel to the issuer and promoter selling shareholder, Sanjay Nayar Family Trust.

The team includes founder and managing partner Zia Mody, senior partner Varoon Chandra, partners Lionel D'Almeida and Roxanne Anderson. Senior associate Sweta Ananthanarayanan assisted with the transactions.

Kotak Mahindra Capital, Morgan Stanley, Bofa Securities, Citi Bank, ICICI Securities and JM Financial are the i-bankers working on the issue.

While Cyril Amarchand Mangaldas is advising the i-bankers, Trilegal is advising the investor-selling shareholder.

The list of key selling shareholders includes Sanjay Nayar Family Trust, private equity firm TPG Growth, Lighthouse India, Sunil Kant Munjal, J M Financial and Investment Consultancy Services, Yogesh Agencies & Investments and Harindarpal Singh Banga along with Indra Banga.

Nykaa is India's biggest online marketplace for beauty and personal care products. The IPO received a strong response from the investors. The inventory-led business model has a vast online presence along with 80 physical stores across 40 cities in India.