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Nykaa IPO's finalization of basis of share allotment has been announced. The initial public offering (IPO) of Nykaa's parent FSN E-Commerce Ventures Ltd, which runs online marketplace for beauty and wellness products, was subscribed more than 82 times at the end of the final day of bidding which was last week.

The bidders can check the share allotment status in the registrar's website Link Intime India Private Limited here or BSE website here. The equity shares, once allotted, may be credited on November 10, 2021. The company's shares are expected to list on leading stock exchanges NSE and BSE on November 11.

The three-day share sale opened for subscription on October 28 and concluded on November 1. The IPO comprised of equity shares aggregating up to 630 crore (fresh issue) and an offer for sale (OFS) of up to 41,972,660 equity shares by promoters or existing shareholders. The price band of the public issue was fixed at 1,085-1,125 per share. 

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. Unlike most startups, Nykaa has also achieved profitability, posting a consolidated net profit of 61 crore for the year ended March 31, 2021 (FY21) as compared to a loss of 16.3 crore in FY20. 

The e-commerce beauty startup 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 2,396 crore from anchor investors. 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.

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