Home Tech Nykaa, Policybazaar to file draft papers for IPOs Soon

Nykaa, Policybazaar to file draft papers for IPOs Soon

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Nykaa, Policybazaar to file draft papers for IPOs Soon

Nykaa, Policybazaar IPO: Lifestyle retailer Nykaa, insurance aggregator Policybazaar and payments platform Paytm are likely to file their respective draft prospectus by the end of July after Zomato announced the date of opening the subscription for the issue in the next week.

Citing one of the two anonymous sources aware of the matter, the report adds that Nykaa is likely to file its Draft Red Herring Prospectus (DRHP) around July 17 and Policybazaar will file its prospectus around July 20. Meanwhile, One97 Communications Ltd, the parent of Paytm, will file a draft prospectus as early as July 12 for an initial public offering (IPO) that seeks to raise $2.3 billion, Reuters had reported last week.

The publication had earlier reported that Nykaa, founded by former investment banker Falguni Nayar, is likely to keep the size of the public offering unchanged at between $500 million and $700 million. It further reported that Policybazaar will set to go public with a Rs 4,000-crore IPO, which would result in dilution of 15 percent stake and seeking a valuation of $3.5 billion.

“The response that Zomato received when it went on investor roadshows has enthused others to speed up their plans and so these companies are looking to file their draft prospectus at the earliest with the Securities and Exchange Board of India (Sebi) so that they have the regulators nod in place soon enough to launch their deals before the end of the year,” the second person cited above told the publication.

According to RedSeer, it is one of the leading food services platforms in India in terms of the value of food sold, as of March 2021. During FY21, 32.1 million average monthly active users (MAU) visited its platform in India. As of March, the company was present in 525 cities in India, with 3,89,932 active restaurant listings.