News > BharatPe co-founder, MD sends legal notice to Uday Kotak on Nykaa IPO issue

BharatPe co-founder, MD sends legal notice to Uday Kotak on Nykaa IPO issue

BharatPe's co-founder and MD Ashneer Grover and his wife Madhuri Grover sent a legal notice to Kotak Mahindra Bank's managing director and chief executive officer , accusing the bank of failing to secure financing and allocation of shares in an IPO launched by beauty firm Nykaa.

The notice has sought damages for the gains Grover and his wife would have made after subscribing to shares worth Rs 500 crore in the company besides Rs 1 lakh towards the cost of the legal notice.