Lighthouse India acquires secondary stake in Nykaa for Rs 1.13 bn

Nykaa is looking to expand its portfolio with the launch of exclusive brand partnerships and increase its offline footprint to 90 stores across India by 2020

Lighthouse India Fund III Limited, an affiliate of Lighthouse Advisors, has invested Rs 1.13 billion to acquire a secondary stake in beauty retailer Nykaa. 

Nykaa raised Rs 1.6 billion through primary and secondary share sale with the participation of existing investors earlier this year.

The beauty retailer achieved revenues of Rs 5.7 million in FY18 and has been EBITDA positive for two quarters in a row. Nykaa will now look to expand its portfolio with the launch of exclusive brand partnerships and increase its offline footprint to 90 stores across India by 2020.

"We are excited to welcome Lighthouse to our shareholder