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#Sigma symbol in word mac Offline
In 2020, in addition to its primary ecommerce business, it has an offline presence via 76 brick-and-mortar stores across the country. Nykaa follows an inventory-based model with warehouses in Mumbai, New Delhi, Pune, Haryana, Kolkata and Bangalore. Operations and services Īctress Janhvi Kapoor has been Nykaa's brand ambassador since 2018. Nayar, who owned 53.5% of the company, recorded a net worth of around $7.7 billion. Shares reached a high of ₹2,129 (US$28) on its first day of trading, giving Nykaa a valuation of around $13 billion. Nykaa was publicly listed on the NSE and BSE on 10 November 2021, and its price rose by 89.2% on opening day making founder Falguni Nayar India's wealthiest self-made female billionaire. The IPO was oversubscribed 81.78 times, raising ₹5,352 crore (US$710 million) at a valuation of US$7.4 billion. The IPO opened on 28 October with a price band of ₹1,085-1,125 per share and completed on 1 November 2021. The company received approval for the IPO from the Securities and Exchange Board of India in October 2021. In August 2021, Nykaa filed a draft red herring prospectus with the Securities and Exchange Board of India to raise funds through an initial public offering (IPO). In November 2020, global asset management firm Fidelity invested in the company through a secondary sale of shares from an existing equity investor. Katrina Kaif invested ₹2.04 crore (US$270,000) in the company in 2018, and Alia Bhatt invested ₹4.95 crore (US$660,000) in July 2020. Two Bollywood actress invested in the company through secondary funding. This was followed by another tranche of ₹67 crore (US$8.9 million) funding by Steadview in May 2020. In March 2020, it raised ₹100 crore (US$13 million) from Steadview Capital, thus making it a unicorn startup valued at ₹85 billion (US$1.1 billion). Since 2012, Nykaa has raised money through multiple rounds of funding. In Dec 2020, Nykaa Fashion launched its first store in Delhi, making the fashion business omnichannel.
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It is a premium membership program that provides users special access to professional beauty products and offers via the Nykaa App.
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The company expanded into fashion by launching Nykaa Design Studio, which was renamed to Nykaa Fashion. In 2018, the company launched Nykaa Man, India's first multi-brand ecommerce store for men's grooming. In 2015, the company expanded from online-only to an omnichannel model and began selling fashion products. The website was first launched around Diwali 2012, and was available commercially in 2013. The brand name Nykaa is derived from the Sanskrit word nayaka, meaning actress or "one in the spotlight". It was launched as an ecommerce portal curating a range of beauty and wellness products. Falguni Nayar, a former managing director at Kotak Mahindra Capital Company, founded Nykaa in April 2012.