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<ul><li>The UK market will serve as the first step towards <keyword id="6376684" type="General" weightage="20" keywordseo="nykaa" source="Orion">Nykaa</keyword>’s expansion in the European market.</li><li>Nykaa had registered a subsidiary in the UK, Nykaa International UK Limited, in 2020.</li><li>Nykaa will flag off its ₹5,200 crore IPO on October 28 and will be listed in November 2021.</li></ul>Beauty and fashion ecommerce platform Nykaa — which will launch its initial public offering (IPO) later this week — plans to use the proceeds for its international expansion, the company noted in its press conference earlier today (October 25). The company soon wants to start its operations in the Middle East market as well as the United Kingdom (UK). Falguni Nayar, the founder and chief executive of Nykaa, highlighted that the demand for Indian cosmetics in the Middle East market is quite high. Therefore, the company would like to take its house of brands — which includes Katrina Kaif’s Kay Beauty, Peppa Bella, 20Dresses, Dot &amp; Key and other brands that Nykaa has set up or acquired — in this market. Meanwhile, the UK market will serve as the first step towards Nykaa’s expansion in the European market. “At the moment we are very keen to go into the Middle East, where we think there's a lot of opportunity for Indian consumption. In the Middle East we want to take many of our Indian brands. I will grant you only exposure to the markets… including Kay Beauty which will be able to do very well in the Middle Easter market,” Nayyar said. Europe, is another area of opportunity that Nykaa is going to start with and then maybe consider expansion, she added. According to its red herring prospectus (RHP), Nykaa had registered a subsidiary in the UK under the name Nykaa International UK Limited in 2020. The company is authorised to engage in the business of retail sale of cosmetics and toilet articles in specialised stores. Nykaa will flag off its ₹5,200 crore IPO on October 28. The issue will close on November 1 and the listing will be in subsequent weeks. The company intends to use this capital to add more retail stores to its network, acquire more brands and enter newer verticals. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Amount from net proceeds </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total investment to be made </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Investment in subsidiaries like FSN Brands or Nykaa Fashion to set up retail stores </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹35 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹53.9 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Capital expenditure incurred by the company and fund setting up on new warehouses </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹35 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹92.4 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Repayment of outstanding borrowing </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹130 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">N/A </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Expenditure on enhancing brand visibility and awareness </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹200 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹200 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">General corporate purpose* </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">N/A </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">N/A </td></tr></tbody></table> *The amount utilised for general corporate purposes shall not exceed 25% of the net proceeds SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/oyo-ipo-now-faces-a-hurdle-from-zostel-and-a-hotels-lobby-with-55000-members/articleshow/87254918.cms" data-type="tilCustomLink">OYO IPO now faces a hurdle from a hotels lobby with 55,000 members, aside from Zostel</a> <a href="https://www.businessinsider.in/stock-market/news/berger-asian-shalimar-and-indigo-paints-share-price-down-from-last-five-days/articleshow/87254637.cms">Paint makers stress over high raw material costs and fewer tinting machines even as festive demand picks up</a> <a href="https://www.businessinsider.in/business/startups/news/loss-making-groww-is-now-the-most-valued-investment-platform-even-though-some-of-its-peers-make-profits/articleshow/87249142.cms">Loss-making Groww is now the most-valued investment platform even though some of its peers make profits</a>

Soon-to-be listed Nykaa plans to expand to Middle East and the UK

<ul><li><keyword id="6376684" type="General" weightage="20" keywordseo="nykaa" source="Orion">Nykaa</keyword> launches an incubator programme to help potential <keyword id="3152024" type="General" weightage="20" keywordseo="beauty-startups" source="Orion">beauty startups</keyword> with finance and guidance to grow bigger in the space.</li><li>Brands are to participate in the programme and showcase their brand value and the winning brand will earn a grant of ₹4 crore ($500,000).</li><li>A set of judges including actress Katrina Kaif, designer Sabyasachi Mukherjee, stylist Anita Shroff Adajania will be in the jury judging and mentoring the potential beauty brand.</li></ul>India’s largest beauty e-commerce player, Nykaa has come up with an initiative to support some of the many beauty startups and help build homegrown brands. Nykaa’s new incubator programme allows beauty startups in the country to showcase their brand and earn a grant of up to ₹4 crore ($500,000) and even an acquisition opportunity in the future. On July 20, Nykaa launched ‘Beauty&amp;You’ in partnership with American beauty giant <keyword id="162216" type="General" weightage="20" keywordseo="estee-lauder" source="Orion">Estee Lauder</keyword> with a prize pool of ₹4 crore that will be distributed among companies chosen by a panel of fashion entrepreneurs. “We are looking for brands that have innovative ideas and have a sustainable competitive edge and that would be unique products, unique technologies, engaging with new audiences in different ways, creating new business models, offerings, channels.” Shana Randhava, vice-president, ELC New Incubation Ventures told Business Insider India. Nykaa said that it’s not keen on taking equity in the winning startups in return for the grant amount, but they could. “There’s a chance that we may invest in these brands but that is not the aim of the programme. The aim is to give them a pure grant of capital without any equity in return. The awarded brands will get the ability to launch on Nykaa’s platform and stores if they are ready for that,” said CEO of the e-commerce giant Nykaa and son of founder Falguni Nayar Achint Nayar. The programme aims to help founders, innovators, and creators grow their businesses holistically by identifying brand goals, achieving scale ambitions, and curating product portfolios that speak to a new generation of consumers in the Indian market. A set of judges including actress Katrina Kaif, designer Sabyasachi Mukherjee, stylist Anita Shroff Adajania will be in the jury judging and mentoring the potential beauty brand. Shana said that they are looking for brands like Haeckel's, a UK based personal care brand whom Estee Lauder recently invested in. “Our vision is for Beauty &amp; You to harness the entrepreneurial energy in India to advance next-generation beauty brands by presenting opportunities that help put brands on a long-term, sustainable growth path,” said Randhava. It has not decided on how many winners will be declared, it could be one or even four. The chosen startup brands will be provided with masterclasses, financial support, mentorship, awareness and distribution support. The application process starts on August 1 on <a href="https://www.beautyandyouawards.com/">this website</a> and closes on September 30, and winners to be announced in November. “Brands participating should have passion and the rest we can help with. We have infrastructure to help them build and develop on that,” Achint Nayar, Nykaa, CEO. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/burger-singh-raises-30-crore-to-open-120-outlets-in-6-months/articleshow/93021975.cms">Burger Singh raises ₹30 crore, to open 120 outlets in 6 months</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/itc-is-relying-on-its-advisory-maars-app-for-farmers-valued-added-crops-to-grow-its-agri-business/articleshow/93007505.cms">ITC is relying on its advisory app for farmers, valued-added crops to grow its agri-business</a>

Nykaa open to funding beauty startups without equity, initially

<ul><li>Indian businesses are preparing their present and the future to be more resilient at a time when technology, and more specifically, <keyword id="6355999" type="General" weightage="20" keywordseo="AI" source="Orion">AI</keyword>, has become second nature of our lives.</li><li>According to a new survey, Indian businesses and decision-makers are more geared towards using technology and <keyword id="107950" type="General" weightage="20" keywordseo="Artificial-intelligence" source="Orion">artificial intelligence</keyword> to automate and augment their processes.</li><li>Here’s how <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> stands up to the US and UK in terms of using technology in its businesses.</li></ul>Artificial intelligence, or AI, has been one of the core aspects of digital transformation of businesses. From making more informed decisions to improving operational efficiencies, AI has been a net positive for modern businesses. The Covid-19 pandemic put digital transformation up front and centre of the modern business world – this gave old businesses a chance and an excuse to finally digitise their operations and shed legacy systems that were holding them back. While the immediate benefactors of this were software service providers like TCS, Infosys and Wipro, among others in India, businesses which have undergone these changes will reap the benefits going forward. <cmsannotation type="cmsannotation" annotationid="How can AI benefit businesses?" comment="subhead" text="How can AI benefit businesses?">How can AI benefit businesses?</cmsannotation> Artificial intelligence, on its own, is a subset of digital transformation, but it is one of the key aspects nonetheless. Automating repetitive tasks, using AI as a first-line of customer assistance via AI bots and leveraging technology to answer questions that might otherwise use a lot of manhours – these are some of the most immediate benefits of AI use in day-to-day activities. How AI is perceived in the modern business environment has also undergone a sea change, but certain factors remain areas of concern. According to a report by Peak, a decision intelligence company based in the UK, there are disparities between how CEOs, other c-suite officers and their employees look at AI in their business environment. <cmsannotation type="cmsannotation" annotationid="India leads US and UK in terms of using AI" comment="subhead" text="India leads US and UK in terms of using AI">India leads US and UK in terms of using AI</cmsannotation> Indian businesses lead the US and UK by a wide margin when it comes to using AI in one form or the other in their businesses. According to the report, while 84% of the businesses in India have adopted AI, the number drops to 68% in the US and just 46% in the UK. Another area where India leads by a huge margin is the number of projects taken up by businesses involving AI in the last five years. The report says that Indian businesses took up on average eight such projects with a success rate of 75%. Every 1 in 4 businesses in the US says they don’t anticipate any digital transformation in their industry, with the number dropping to 12% and 10% in India and UK, respectively. Essentially, digital transformation is high on the radar for Indian and UK businesses, but not so much in the US. Despite lagging in these areas, the US is investing more into using technology to support and improve processes performed by humans, as opposed to automating them. <cmsannotation type="cmsannotation" annotationid="India most digitally ready country" comment="subhead" text="India most digitally ready country">India most digitally ready country</cmsannotation> The report further adds that based on its survey, India is the most digitally ready country, with a majority of decision makers recognising the need for digital transformation, compared to just a third in the US and UK. What this underlines is how Indian businesses are preparing for the present and the future, making themselves more resilient when compared to their counterparts in the US and UK. This is further reflected by the fact that 90% of decision makers in India have a data strategy in place, while that number falls to 84% and 68% in the US and UK, respectively. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/nykaa-to-face-competitive-heat-but-its-omni-channel-experience-maybe-the-game-changer/articleshow/91883946.cms">Nykaa to face competitive heat but its omni-channel experience maybe the game changer</a> <a href="https://www.businessinsider.in/cryptocurrency/news/indian-government-looking-for-ways-to-tax-nfts-as-per-a-new-report/articleshow/91882530.cms">After cryptos, the taxman could come for your NFTs says a new report</a> <a href="https://www.businessinsider.in/policy/news/government-withdraws-advisory-on-aadhaar-photocopies-asks-citizens-to-be-cautious-while-sharing-aadhaar-card-details/articleshow/91881948.cms">Government withdraws advisory on Aadhaar photocopies, asks citizens to be cautious while sharing Aadhaar card details</a>

India ahead of US and UK when it comes to AI readiness, says a new report

West Bengal Chief Minister <keyword id="43868" type="General" weightage="20" keywordseo="mamata-banerjee" source="Orion">Mamata Banerjee</keyword> on Monday announced the reopening of educational institutions in the state from November 16, after a gap of nearly 20 months. Banerjee, who is on a North Bengal tour, during an administrative meeting at Uttarkanya -- the state secretariat in Jalpaiguri district of North Bengal -- directed <keyword id="12385503" type="General" weightage="20" keywordseo="Chief-Secretary-H-K-Diwedi" source="Orion">Chief Secretary H K Diwedi</keyword> to make the necessary arrangements. With this, the educational institutions that were closed due to the Corona pandemic will resume classes in the offline mode. Though Banerjee, also the Trinamool Congress chief, had earlier announced November 15 as the date, it was deferred by a day owing to Bisha Munda's birthday. The tribal leader's birthday on November 15 is treated as a special holiday in the state. "On November 4, there is Kali Puja, followed by <keyword id="12385504" type="General" weightage="20" keywordseo="bhatri-ditiya" source="Orion">Bhatri Ditiya</keyword>. After two days is Chhat puja while November 13 happens to be Jagadhatri Puja. So we can reopen the schools after these festivals from November 15," she said during the meeting. On October 5, the state finance department sanctioned Rs 109 crore to the education department for the renovation of 6,468 government schools, indicating the government's resolve to restart the schools after <keyword id="6357908" type="General" weightage="20" keywordseo="durga-puja" source="Orion">Durga Puja</keyword>. Earlier too in August, after her meeting with the Global advisory body chief, she had said that her government was mulling <keyword id="3387016" type="General" weightage="20" keywordseo="reopening-of-schools" source="Orion">reopening of schools</keyword> and colleges that have been shut since March due to the second wave of the coronavirus pandemic. The Chief Minister had said that educational institutes might reopen in West Bengal on alternate days after the Durga Puja vacation in November. Asked about the details of the schedule, an education department official said, "Though it has not yet been decided and the department is still working on the details, but so far, it has been decided that classes from IX onwards will start at the initial level along with the colleges and universities. "However, the department is likely to impose strict conditions to ensure the safety of children from the deadly virus." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/soon-to-be-listed-nykaa-plans-to-expand-to-middle-east-and-the-uk/articleshow/87257541.cms">Soon-to-be listed Nykaa plans to expand to Middle East and the UK</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/mobile/news/jiophone-next-to-launch-this-diwali-specs-features-and-everything-we-know-so-far/articleshow/87256069.cms">JioPhone Next to launch this Diwali – specs, features and everything we know so far</a>

West Bengal Chief Minister announces reopening of schools from November 16 after 20 months

<ul><li>The company said that the total payout of the interim dividend is ₹10.86 crore.</li><li><keyword id="5030468" type="General" weightage="20" keywordseo="easemytrip" source="Orion">EaseMyTrip</keyword> has announced its first dividend in April 2021 almost a month after its listing.</li><li> The company reported over 330% year-on-year increase in its consolidated net profit in Q2 of 2021.</li></ul>Travel ticketing platform Easy Trip Planner — which goes by the name EaseMyTrip — has declared an interim dividend of 50% or ₹1 per equity share of the face value of ₹2 for the fiscal year 2022 that ends in March next year. The company said that the total payout of the interim dividend is ₹10.86 crore. The said dividend on equity shares will be credited to the members as per the records of the depositories as beneficial owners of the equity shares, as on November 22. The interim dividend will be paid on or before December 10, 2021. EaseMyTrip has announced its first dividend in April 2021 almost a month after its listing on the stock exchange. The latest development comes soon after EaseMyTrip announced its financial result for July to September quarter of 2021. The company reported over 330% year-on-year increase in its consolidated net profit. Its revenue also grew another 164% year-on-year to ₹59.7 crore in the July-September quarter. <div type="image" title="EaseMyTrip announces interim dividend of 50% after stellar profit growth" msid="87648383" hostid="261"></div> The financial statement also highlighted that EaseMyTrip witnessed a 2.5 times higher air bookings and 11 times higher hotel nights booking compared to previous quarter. The gross booking revenue (GBR) stood at ₹895.1 crore in the June to September quarter. “EaseMyTrip has a uniquely sustainable and profitable model and our results have consistently demonstrated this all the time. Even in this fiscal, we witnessed phenomenal growth across all segments in the H1FY22 [first half of financial year 2022]. It also reflects a strong recovery of India's travel sector, which was severely impacted by the pandemic,” Nishant Pitti, chief executive and cofounder of EaseMyTrip, said. The company offers access to more than 400 international and domestic airlines, over one million hotels as well as train/bus tickets and taxi rentals across India. EaseMyTrip was founded in 2008 and claims to have more than 11 million customers. It also has offices across India and international markets like Philippines, Singapore, Thailand, the UAE, the UK, and the USA. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/zomatos-investment-turns-curefit-into-indias-36th-unicorn-of-2021/articleshow/87640767.cms" data-type="tilCustomLink" style="">Cult.fit’s parent company Curefit is the 36th unicorn in town</a> <a href="https://www.businessinsider.in/business/corporates/news/zomato-has-closed-all-international-operations-in-uk-us-singapore-and-lebanon/articleshow/87639773.cms" data-type="tilCustomLink" style="">Zomato has officially pulled out of all international markets</a> <a href="https://www.businessinsider.in/business/corporates/news/nykaa-is-now-bigger-than-coal-india-britannia-irctc-and-almost-double-of-hero-motocorp/articleshow/87635312.cms" data-type="tilCustomLink" style="">Nykaa is now bigger than Coal India, Britannia, IRCTC and almost double of Hero MotoCorp</a>

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Soon-to-be listed Nykaa plans to expand to Middle East and the UK

Kritti Bhalla

Nykaa open to funding beauty startups without equity, initially

Bhakti Makwana

India ahead of US and UK when it comes to AI readiness, says a new report

Rounak Jain

West Bengal Chief Minister announces reopening of schools from November 16 after 20 months

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EaseMyTrip announces interim dividend of 50% after stellar profit growth

Kritti Bhalla

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