Colorbar Cosmetics founder and managing director Samir Modi has said the makeup and skincare brand plans to go public in early 2027. Modi had earlier shared his timeline for an IPO with Storyboard early in 2022, saying, “Colorbar is also planning to go public in three years’ time.”
Colorbar, which broke even last year and is valued at ₹25-35 billion, is a part of Modi Enterprises, a $1.5 billion plus group housing brands like Pan Vilas, 24Seven, Modicare and Godfrey Phillips India Limited.
Modi recently told Reuters that the company’s IPO plans for early 2027 come on the back of a strong revenue surge this financial year, fuelled by design enhancements, fresh product launches, and an aggressive retail expansion strategy.
As per the Reuters report, Colorbar plans to double revenue to over ₹10 billion in the financial year starting April 1, including by introducing new packaging and store upgrades.
Colorbar is expected to use the funds to not just add to it’s offerings but pursue domestic and overseas acquisitions.
Also read:
How Samir Modi grew ColorBar into an indie luxe brand
Indian beauty brands such as Nykaa and Honasa Consumer, the parent company of Mamaearth, are listed too. But both stocks faced declines since their market debuts on concerns from brokerages about profit margins, due to heightened competition.
Nykaa, which was listed on November 10, 2021, at an IPO price of ₹1,125 per share, saw a strong debut and even touched a high of ₹2,574 later that month.
As of May 16, 2025, Nykaa shares closed at ₹201.80 on BSE, significantly below its IPO price of ₹1,125. The stock has seen a sharp correction from its post-listing highs, reflecting investor concerns. Over the past year, it has traded between a 52-week high of ₹229.90 and a low of ₹149.65,
Honasa Consumer got listed on November 7, 2023, at ₹324 per share. As of May 16, 2025, Honasa Consumer shares closed at ₹261.65 on BSE, well below their 52-week high of ₹546.50, though above the 52-week low of ₹190.00.
FSN E-Commerce Ventures Ltd, the parent company of Nykaa, reported continued growth momentum in the fourth quarter of FY25, with consolidated net revenue expected to rise in the low to mid-20% range year-on-year. This puts the company’s full-year revenue growth also in the mid-20s, reflecting consistent performance across all quarters of the fiscal year.
