Sugar Cosmetics is gearing up for its Initial Public Offering (IPO) in 2024 or 2025. The company aims to raise funds for large-scale expansion, targeting profitability by launching its 100th store and doubling its retail outlets to 60,000 across India. Sugar Cosmetics has seen impressive growth, doubling its sales in FY23 and turning profitable in December 2023.

Nykaa, another major player in the beauty industry, had a successful IPO in October 2021, raising INR 5,352 crore and listing on the NSE and BSE. Nykaa’s IPO was priced at INR 1,085-1,125 per share, and the company’s shares surged by 89.2% on the opening day. Mamaearth, a skincare and personal care brand, launched its IPO on October 31, 2023, with a price band of INR 308-324 per share. The IPO included a fresh issue of INR 365 crore and an offer for sale of about 4.12 crore shares, aiming to raise INR 1,701 crore1. Mamaearth’s shares got listed on BSE and NSE on November 7, 2023.These IPOs reflect the booming beauty industry in India, driven by increasing consumer demand for quality and diverse beauty products.

The success of these companies in the public market will likely encourage more beauty brands to consider going public in the future.