BackNykaa IPO: GMP, share allotment, listing date details here
Nykaa IPO comprised fresh issue of equity shares worth ₹630 crore and OFS of 41,972,660 equity shares by promoter and existing shareholders
PremiumThe 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 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. The initial share sale of FSN E-Commerce Ventures was fully subscribed on the first day of subscription on October 28.
The 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 registrar's website Link Intime India Private Limited here or BSE website here.
As per market observers, Nykaa shares are available at a premium (GMP) of ₹640 in the grey market. The company's shares are expected to list on leading stock exchanges NSE and BSE on November 11.
The IPO of FSN E-Commerce Ventures had a fresh issue of equity shares worth ₹630 crore and an offer for sale (OFS) of 4,19,72,660 equity shares by the promoter and existing shareholders. The price range for the offer was ₹1,085-1,125 per share.
Nykaa plans to use the proceeds from the IPO for expansion, by setting up new retail stores and establishing new warehouses. It also plans to retire some of its debt, which should bring down interest costs and further shore up its profitability.
Founded in 2012 by former investment banker Falguni Nayar, as of August 31, 2021, Nykaa had cumulative downloads of 55.8 million across all their mobile applications. Nykaa had posted a net profit of ₹61.9 crore in FY21 compared to a loss of ₹16.3 crore in FY20. Nykaa opened their first physical store in 2014, and has 80 physical stores across 40 cities as of August 31, 2021.
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