Home / Markets / Stock Markets /  Nykaa IPO gets good response on final day
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The 5,300-crore initial public offering (IPO) of fashion e-tailer Nykaa, owned by FSN E-Commerce Ventures Ltd, was oversubscribed 82.42 on the third and final day of the public share sale.

As of 5.30 pm on Monday, Nykaa received bids for nearly 2.17 billion shares compared to the issue size of 26.28 million shares, excluding anchor allotment, showed stock exchange data. At the upper end of the band of 1085-1125, it drew bids of around 2.43 trillion. The institutional investor category received bids for 1.31 billion shares, or 92.17 times the shares on offer, data showed.

The non institutional category, comprising high networth individuals, was subscribed 112.51 times. Demand from retail investors, who can invest up to 2 lakh in an IPO, stood at 12.29 times.

Merchant bankers were encouraged by the response to the IPO despite weakness and volatility in the secondary markets. That aside, hefty grey market premium, hinting at sharp listing gains, also drew investors in large numbers.

In Mumbai’s grey market, Nykaa’s shares were quoted at a premium of 560-570 apiece on Monday, two dealers said on the condition of anonymity.

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