India: Beauty startup Nykaa surges to near $13b valuation on IPO debut

India: Beauty startup Nykaa surges to near $13b valuation on IPO debut

Photo: Nykaa

Shares of cosmetics-to-fashion platform Nykaa made a blockbuster opening on Wednesday, valuing the Indian company at near $13 billion, in the latest startup listing after food delivery firm Zomato’s stellar debut in July.