Nykaa plans listing in 2021, could raise $500 million: Report

Nykaa is aiming to go for an initial public offering (IPO) before the end of 2021, Bloomberg reported. The nine-year-old startup could raise at least $500 million, valuing it at $4 billion. Nykaa, which was founded by former investment banker Falguni Nayar, is said to have selected Kotak Mahindra Capital and Morgan Stanley to work on the potential offering.