The IPO of start-up company Nykaa, which sells beauty and fashion products, was subscribed 4.82 times on the second day. This issue will close on 1st November. Investors bid for 2.64 crore shares as against 12.77 equity shares of this primary issue. Retail investors bid 6.32 times for shares reserved for themselves and employees 1.18 times for shares reserved for themselves. Qualified Institutional Investors (QIBs) subscribed 4.72 times the shares reserved for them. Non-institutional investors subscribed 4.17 times the share reserved for them.
The company will raise capital of 5,352 crore
The company has entered the primary market to raise capital of Rs 5,352 crore. However, Nykaa’s parent company FSN E-Commerce Ventures Ltd had already raised Rs 2395 crore from 174 anchor investors before the IPO. In this, Blackrock (Fidelity), JP Morgan, HDFC have invested in ICICI Nomura and Abu Dhabi Investment Authority. Earlier the shares of the company were being sold at a premium of Rs 600 to 650 in the gray market. There was a tremendous craze of this IPO in the retail subscribers on the first day. Firstly the portion reserved for him was fully subscribed. Retail investors had bid for 1.63 crore shares. This is more than 3.45 times the share reserved for them.
Nykaa IPO fully subscribed on the very first day, there was tremendous craze among retail investors
New shares worth Rs 630 crore issued under IPO
Investors can invest in the bid for the IPO in the band of Rs 1085-1125. Bidding can be done for these shares till November 1. Ten percent of this IPO is reserved for retail investors. New shares worth Rs 630 crore will be issued under the IPO, while shares worth Rs 4,721 crore will be sold through OFS.
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