The US$715 million IPO of FSN E-Commerce Ventures Limited (Nykaa) has been awarded “Equity Market Deal of the Year (Midsize)” at Asian Legal Business’ fourth annual India Law Awards.
Sidley acted as international counsel to the underwriters, Kotak Mahindra, Morgan Stanley, BofA Securities, Citigroup, ICICI Securities, and JM Financial, in connection with the US$715 million initial public offering of equity shares of FSN E-Commerce Ventures Limited (Nykaa), a digitally native consumer technology platform, delivering a content-led, lifestyle retail experience to consumers with a diverse portfolio of beauty, personal care, and fashion products. Nykaa’s IPO was oversubscribed 81.7 times with a market capitalization of US$14 billion, making it one of the best received IPOs in the history of India. Its founder is now India’s richest self-made businesswoman, and its high market capitalization makes it one of India’s top 100 most highly valued listed companies.
The Sidley team was led by Manoj Bhargava (Partner, Capital Markets, Singapore), and included members from the firm’s offices in Singapore, Hong Kong, Sydney, and New York.
The Asian Legal Business India Law Awards pay tribute to the outstanding performance of lawyers across India and the region.