 "Falguni Nayar")
Nykaa E-Retail Pvt is planning an initial public offering (IPO) as soon as this year that could value the Indian online cosmetic retailer at a minimum $3 billion, according to people familiar with the matter.
The start-up founded by Falguni Nayar, a former investment banker, is working with advisors to prepare for the share sale in Mumbai, the people said. Nykaa is leaning toward a domestic listing, though an overseas share sale is also under consideration, said the people, who asked not to be named as the information is private.
Deliberations are ongoing and details of the offering including the
