10 May 2022, Mumbai:

Nykaa Grants fresh ESOPs, and shares.
Nykaa has both granted new stock options and equity shares to their respective employees.

ALSO READ NYKAA: India set to become 5th largest beauty market

Nykaa hundred 100,150 equity shares are allotted to employees who have vested their options.

RELEVANT NEWS Startups 2021: Bought back historic high ESOPS

The overall share capital of Nykaa stands increased to rupees 47,42,05,026

Nykaa had allotted 100,000 optionally convertible preference shares worth a little over rupees 60 crores to employees in January last year.

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CREDITS: ET Dt 10-05-2022 (The news article has not been edited by DFU Publications staff)

27 April 2022, Mumbai:

Fashion e-commerce major Myntra has partnered with Italian brand Freesoul to launch the brand in the Indian market.

The brand will have a brand store on the Myntra Mall, apart from being featured on Myntra Studio and M-Live, Myntra’s social commerce platform. 

ALSO READ  Myntra launches Style Squad to curate collections and content for consumers

Founded in 1994, Freesoul is a high-fashion brand that sells denim, athleisure, sportswear, and tailored garments.

RELEVANT NEWS Myntra: Focus area on Live Commerce, Beauty

“Freesoul’s unparalleled affiliation with Myntra will allow the model to achieve and interact with its numerous target market in India and amplify its presence within the nation in the direction of fashion-conscious males, with affinity in the direction of premium trend manufacturers, that look to Myntra for his or her trend wants,” the net trend retailer, a part of Walmart-backed Flipkart Group, mentioned on Tuesday.

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CREDITS: Mint Indian Retailer Dhansutra Fashion Network Pehal News (The news article has not been edited by DFU Publications staff)

04 May 2022, Mumbai:

Good glamm in talks to buy Raymond's consumer care business.

Rupees 2500 - $2800 cash and stock deal will be one of the largest M&A in the Beauty and Personal care space.

Looking in
Raymond group and its promoters may own a minority stake in Good Glamm group.

ALSO READ Apparel retailers Raymond, Snapdeal, Uniqlo restructure boards

The acquisition will mark Good Glamm's entry into the men's personal care.

Raymond group is expected to carve out its consumer care business.

Good Glamm group is believed to be talking about raising 250 million USD at an evaluation of 1.8-2 to billion USD.

RELEVANT NEWS Good Glamm acquires a majority stake in Organic Harvest

The Good Glamm group is in advance talks to buy the consumer care business of Raymond group which has Park Avenue and Kamasutra brands.

The cash and stock deal is pegged at rupees $2,500 to $2,800 crores.

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CREDITS: ET Dt 04-05-2022 (The news article has not been edited by DFU Publications staff)

26 April 2022, Mumbai:

FirstCry Plans $1b IPO, may Seek Sebi Nod Next Month

75% of total issue size to be in OFS, rest in primary: board approves conversion to public Ltd firm.

ALSO READ NIIF-FirstCry proposed deal

A SOURCE SAID...
FirstCry may seek a valuation of close to $7 billion for its debut on Dalal Street.

RELEVANT NEWS FirstCry: Sovereign wealth fund invest, others offload stake in secondary deal

MONEY MATTERS
FirstCry's DRNP filing will be coming at a time when startups like Delhivery had to postpone their listing plans due to market volatility.

The most updated financials of the company will reflect in its draft red herring prospectus (DRHP).

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CREDITS: ET DT 26-04-2022 (The News article has not been edited by DFU Publications staff).

03 May 2022, Mumbai:

Board decision to suspend CEO Bose.

ALSO READ Zilingo Hired An Independent Firm

Singapore-based fashion technology startup Zilingo on Monday said the decision to suspend its Indian origin co-founder and CEO Ankiti Bose over alleged discrepancies in the company's account was taken jointly by the board and not by any individual investor.

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In a strongly-worded statement, the company said Bose made certain harassment-related allegations only after she was suspended on March 31 and no past or present investor nominees on the board were made aware of the harassment claims prior to that.

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CREDITS: *ET Dt 03-05-2022 (The news article has not been edited by DFU Publications).

29 April 2022, Mumbai:

Incorporate the list in India: Piyush Goyal tells startups.

ALSO READ Startups look at pruning costs to stay in shape

Amid a series of scandals, commerce and industry minister Piyush Goyal on Thursday asked startups to focus on strengthening ethics and corporate governance, while also suggesting that they should be incorporated and listed in India, instead of leaving the country "just a few dollars more".

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"A little tougher ask probably.

But I would once again urge all of you to incorporate in India and list in India. If you have an issue or problem, please tell us about it.

We will...make every effort to resolve them," Goyal said at a CII event.

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CREDITS: TOI Dt 29-04-2022 (The news article has not been edited by DFU Publications staff).

02 May 2022, Mumbai:

IPOs on hold as startups look to wait out the storm.

Wary SEBI starts asking questions on IPO proceeds pricing other aspects.

ALSO READ Piyush Goyal: Startups need to focus on strengthening ethics & corporate governance

Multiple startup IPOs including that boat a direct-to-consumer brand, Oyo hotels and homes, Snapdeal,Pharm Easy are delayed and may not hit the public markets this calendar year, amid uncertain economic conditions triggered by Geopolitical development and rising interest rates in the US.

RELEVANT NEWS Startups look at pruning costs to stay in shape

What is significant is that country's marketing regulator SEBI has not given a nod to most of these companies despite them having filed their IPO documents more than 4-5 months ago.

It typically takes 2 to 3 months for final clearance from SEBI after filing the DRHP.

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CREDITS: ET Dt 02-05-2022 (The news article has not been edited by DFU Publications staff).

28 April 2022, Mumbai:

Startups shed flab as large funding rounds lose stream.

Cos focus on profit, reducing costs.

ALSO READ Nikesh Arora: Startups have to have sustainably profitable model

Startups are looking to prune costs amid the tightening of larger-sized funding rounds. They are doing that by shedding staff.

Handing out pink slips

Mostly late-stage startups that are highly valued & have significant cash burn laying off staff.

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There is a slowdown in large financing rounds of $100-150$ m.

More than 1800 full-time, contractual employees fired in last few weeks; more jobs cut ahead 

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CREDITS: ET Dt 28-04-2022 (The news article has not been edited by DFU Publications staff)

25 April 2022, Mumbai:

Omnichannel beauty retailer Nykaa has made strategic investments in brands across categories such as clean beauty, athleisure, and neutri-cosmetics. The listed entity said it had acquired 18.51% of Earth Rhythm, clean beauty, and personal care cosmetics brand, for Rs 41.65 crore.

It further said it had taken a 60% stake in Nudge Wellness, a dietary supplement, and nutricosmetics products maker, for Rs 3.6 crore.

ALSO READ Nykaa x Estee Lauder foray into 'Salon Business'

It is also entering into the nutraceutical space by partnering with D2C brand incubator Onesto Labs. The Falguni Nayar-led Nykaa will form a new category of nutraceuticals and wellness products under Nudge Wellness.

To strengthen its active-wear play, Nykaa acquired Kica, founded by Aneesha Labroo in 2017 which provides stylish, high-quality products at an affordable price.

RELEVANT NEWS NYKAA: India set to become 5th largest beauty market

Having launched Nykd All Day last year, Nykaa Fashion now adds Kica to its portfolio, offering the growing active-wear community of athletes and everyday fitness seekers greater variety and curation in this category, the company said.

Nykaa has announced the acquisition of 18.51% stake in clean beauty brand Earth Rhythm for ₹41.65 crore, 60% in Nudge Wellness for ₹3.6 crore, marking entry into dietary supplement & nutricosmetics products abnd athleisure brand 'KICA' for ₹4.51 crore.

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CREDITS: ET New Indian Express Financial Express Mint (The news article has not been edited by DFU Publications).