Six senior executives at Nykaa stand to make the total more than ₹850 million, or $115 million, through their shareholding and vested options as of the company’s initial public offering (IPO) opening on October 28.
The six executives head various divisions in the online beauty, wellness and fashion product vendor.
The company’s private label division FSN Brands is set to make Chief Executive Officer Reena Chhabra ₹250 crore with 2.1 million shares and 0.12 million Employee Stock Options (ESOPs). Chhabra has been associated with FSN Brands since May 2016. The total remuneration paid to him in FY 2011 ₹3.06 crore as per the draft Red Herring Prospectus (DRHP) filed by the company.
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Nihir Parikh, chief executive officer of Man Business, a branch of Nykaa e-retail, holds over 2 million shares and 0.12 million esops value. ₹245 crores. He joined the firm in 2015 and received a salary of ₹2.83 crore in FY 2011.
Sanjay Suri, Chief Technology Officer, Nykaa E-Retail, holds 1.8 million shares and 0.15 million ESOPs, with a net worth of Rs. ₹220 crores. Suri who joined the firm in 2016 was paid ₹2.39 crore in FY 2011.
Manoj Jaiswal, Chief Supply Chain Officer, Nykaa E-Retail holds shares and options ₹63 crore, while the firm’s chief financial officer Arvind Agarwal holds shares and options ₹45 crores. Gopal Asthana, chief business officer of Nykaa Fashion, owns shares and options. ₹29 crores.
Nykaa, Powered by FSN E-Commerce Ventures Pvt. Ltd, aims to list later this week at a valuation of a little over $7 billion. This is a significant leap forward from its previous private business, which the company had sold at around . was struck on the evaluation of ₹9,300 crore ($1.25 billion) in November 2020
At the time, according to the red herring prospectus, Fidelity Management & Research LLP had acquired shares of the company from some early investors. At this valuation, the promoters through their group entities Sanjay Nair Family Trust, Falguni Nair Family Trust, Anchit Nair Family Trust and Advaita Nair Family Trust have a net worth of $3.83 billion.
Hero Group founder Sunil Kant Munjal’s investment in the firm grew 19 times in 2016 on the IPO valuation. Their average cost of acquisition per equity share was ₹56.54 per share ₹119 crores. Munjal holds stake at IPO upper band price ₹2,413 crore.
Narottam Sekhsaria, who has invested around ₹19 crore in the firm at an average cost price of Rs. ₹9.86 per share, his share price will increase by more than 11,443% ₹1,944 crores. Shekhsaria had first invested in 2014.
PE firm TPG Growth, which invested around ₹191 crores in 2019 at an average cost of Rs. ₹117.67 per share has seen an increase of 868% in its stake ₹1,853 crore.
Harinder Singh Banga and Indra Banga were two of Nykaa’s early investors, having previously invested in ₹120 crore in 2014 at an average cost of ₹56.54. The value of his stake increased by 18 times ₹2,383 crore at the current IPO valuation.
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