NS Initial Public Offering (IPO) 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 subscriptions on Monday, helped mainly 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.
According to market observers, Nykaa’s shares are available at a premium (GMP) ₹648 in gray market today. The company’s shares are expected to be listed on the major stock exchanges NSE and BSE on November 11.
The finalization of the share allocation basis for the Nykaa IPO is expected next week on Monday, November 8, 2021. Bidders can check the share allotment status on the website of the IPO Registrar Link Intime India Private Limited or the Stock Exchange BSE website.
NS ₹As per data available with NSE, bids were received for 2,16,59,47,080 shares against an offer of 2,64,85,479 shares for an initial share sale of Rs 5,352 crore. 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 Nair, the female-led unicorn offers 4,000 beauty, personal care and fashion brands through its website, app and 80-odd brick-and-mortar store. Ahead of its IPO, Nykaa Raises ₹2,396 crore from anchor investors. The price ceiling for the public offering was fixed ₹1,085-1,125 per share.
Unlike most startups, Nykaa has also achieved profitability posting a consolidated net profit of ₹61 crore for the year ended 31st March, 2021 (FY21) as compared to a loss of Rs. ₹16.3 crore in FY20. The company has a diversified portfolio of beauty, personnel care and fashion products, which includes its proprietary manufactured brand products under its two business verticals – Nykaa and Nykaa Fashion.
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