04 Nov , 2021 By : Kanchan Joshi
The initial public offering (IPO) of FSN E-Commerce Ventures Ltd, which runs an online marketplace for beauty and wellness products Nykaa, was subscribed 81.78 times on the last day of subscription on Monday, mainly helped by huge interest from institutional investors. The initial share sale of Nykaa's parent company was fully subscribed on the first day of subscription on Thursday.
As per market observers, Nykaa shares are available at a premium (GMP) of Rs648 in the grey market today. The company's shares are expected to list on leading stock exchanges NSE and BSE on November 11.
Nykaa IPO's finalization of basis of share allotment is expected to take place next week on Monday, November 8, 2021. The bidders can check the share allotment status in the IPO registrar Link Intime India Private Limited's website or stock exchange BSE's website.
The Rs5,352 crore initial share sale received bids for 2,16,59,47,080 shares against 2,64,85,479 shares on offer, according to data available with the NSE. The category meant for qualified institutional buyers (QIBs) was subscribed 91.18 times, non-institutional investors 112.02 times and retail individual investors (RIIs) 12.24 times.
Founded by former investment banker Falguni Nayar, the woman-led unicorn offers 4,000 beauty, personal care and fashion brands through its website, app and 80-odd brick-and-mortar stores. Ahead of its IPO, Nykaa raised Rs2,396 crore from anchor investors. The price range for the public offer was fixed at Rs1,085-1,125 per share.
Unlike most startups, Nykaa has also achieved profitability, posting a consolidated net profit of Rs61 crore for the year ended March 31, 2021 (FY21) as compared to a loss of Rs16.3 crore in FY20. The company has a diverse portfolio of beauty, personnel care and fashion products, including its owned manufactured brand products under its two business verticals -- Nykaa and Nykaa Fashion.
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