Nykaa receives secondary phase of investment


Boston-based firm Fidelity Management & Research Company has invested an undisclosed amount in Indian fashion and beauty marketplace Nykaa through a secondary transaction, providing a partial exit to early investors and employees. The investment comes nine months after Nykaa raised Rs 166 crore in a primary transaction from Steadview Capital at a valuation of $1.2 billion. This has allowed Nykaa to increase its share in the beauty market, the company said, without disclosing specifics. Nykaa is expecting a 40% growth in consolidated revenue in the ongoing fiscal.




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