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Nykaa to make Dalal Street debut today

market | Nov 9, 2021 9:41 PM IST

Nykaa to make Dalal Street debut today


The issue received a robust response from the investors and was oversubscribed 82 times on the final day of bidding.

Nykaa is all decked up for a Dalal Street debut on Wednesday, November 10. Shares in FSN E-Commerce Ventures -- which runs an online marketplace for beauty and wellness products under the name Nykaa -- will be listed on stock exchanges BSE and NSE. The Nykaa listing comes days after its initial public offering (IPO) saw an overall subscription of 82.4 times.

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The portions reserved for qualified institutional buyers (QIBs) and non-institutional investors were subscribed 92.2 and 112.5 times respectively, and the quota reserved for retail investors saw a subscription of 12.3 times. The quota reserved for employees was subscribed 1.9 times.
Nykaa's public offer comprised fresh issuance worth Rs 630 crore and an offer for sale (OFS) worth Rs 4,721 crore. Ahead of the IPO, the company had raised over Rs 2,300 from anchor investors.
Under the IPO, potential investors could bid for Nykaa shares in the range of Rs 1,085-1,125, in multiples of 12 shares. At the upper end of the price band, one lot cost investors Rs 13,500.
The company aims to use these funds for expansion, setting new retail stores and warehouses. It also plans to repay its debt, which could bring down interest costs and shore profitability.
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.
Watch the video for more.
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