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The initial public offering (IPO) of FSN E-Commerce Ventures Ltd, which owns Nykaa, was subscribed 4.86 times excluding the anchor book on Friday, the second day of the three-day offering.

As of 5 pm, the IPO received applications for 127.75 million shares against 26.28 million shares on offer, stock exchange data showed. The institutional investor category was subscribed 4.77 times, while the non-institutional category comprising high-net-worth individuals was subscribed 418% or 4.18 times.

Retail investors, whose investments cannot exceed 2 lakh per individual, subscribed to 6.34 times the 4.73 million shares on offer, data showed.

Separately, the Fino Payments Bank IPO was subscribed 51% on the first day of its three-day offering closing on 2 November.

The overall book, excluding the anchor allotment, was subscribed 0.51 times.

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