As Nykaa is set to open its IPO on October 28, the retail firm’s six senior executives stand to make a total of more than Rs 850 crore or $115 million through their shareholding and vested options, reported Mint.
These six executives lead the various sections in the digital beauty, wellness and fashion products seller.
Reena Chhabra, who is CEO of Nykaa’s private label section FSN Brands, is likely to make Rs 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 compensation paid to her in FY21 was Rs 3.06 crore, according to the draft red herring prospectus (DRHP) filed by the company, the report said.
Similarly, Nihir Parikh, who is the CEO of Nykaa’s, Man Business, holds more than 2 million shares and 0.12 million Esops worth Rs 245 crore. Parikh joined Nykaa in 2015 and earned a salary of Rs 2.83 crore in FY21.
Sanjay Suri, the CTO of Nykaa E-Retail, has 1.8 million shares and 0.15 million Esops, together worth Rs 220 crore. Suri joined the firm in 2016 and was paid Rs 2.39 crore in FY21.
Manoj Jaiswal, the chief supply chain officer, Nykaa E-Retail, holds shares and options worth Rs 63 crore, while Arvind Agarwal, the CFO at Nykaa, has shares and options worth Rs 45 crore. Gopal Asthana, the chief business officer of Nykaa Fashion, has shares and options worth Rs 29 crore.
Nykaa's parent company FSN Commerce Ventures has fixed a price band of Rs 1,085 to Rs 1,125 per share for its initial public offer (IPO) for its initial public offering.
The three-day public offering would close on November 1.
Meanwhile, commenting about Nykaa’s IPO, brokerage firm GoodReturns said the company is sensed to be well positioned to take on the exponential growth expected for the sector as a whole and as it's a profitable unicorn in the country it is seen as a good investment. Nonetheless even as the valuations remain stretched, considering its profits the aspect can be given a miss.
