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market | IST

Nykaa makes strong market debut, shares list at 79% premium over issue price

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Nykaa shares made a strong debut on Dalal Street on Wednesday, with shares listing at a premium of up to 79 percent compared with the issue price.

Nykaa shares made a strong debut on Dalal Street on Wednesday, with shares listing at a premium of up to 79 percent compared with the issue price. On BSE, the stock of FSN E-Commerce Ventures - which runs the online marketplace for beauty and wellness products - began its journey in the secondary market at Rs 2,001, a premium of 77.9 percent over the issue price of Rs 1,125.
On NSE, Nykaa shares debuted at Rs 2,018, a premium of 79.4 percent.
The robust response for Nykaa shares comes after the startup's initial public offering (IPO) was subscribed more than 82 times last week. Nykaa's initial share sale to raise over Rs 5,350 crore opened for subscription on October 28 and closed on November 1.
The portions reserved for qualified institutional investors (QIBs) and non-institutional investors were subscribed 92.2 and 112.5 times respectively. The quota reserved for retail investors saw a subscription of 12.3 times. The quota reserved for employees was subscribed 1.9 times.
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Nykaa's IPO comprised fresh issuance worth Rs 630 crore and an offer for sale (OFS) worth Rs 4,721 crore. Potential investors could bid for Nykaa shares in the range of Rs 1,085-1,125 and in multiples of 12 units under the IPO. At the upper end of the price band, one lot cost investors Rs 13,500.
FSN E-Commerce Ventures is a digital consumer fashion technology platform that specialises in content-led, retail lifestyle experience. Its portfolio includes fashion, beauty, and personal care products. It serves clients through both offline and online stores. The company has more than 80 stores in 40 cities across the country.