Nykaa IPO: The IPO of Nykaa, a startup company selling beauty products, got 81.78 times subscription on the last day of the issue. This company is going to be listed on the stock market on Wednesday, November 10. Nykaa’s IPO received a great response from both institutional and retail investors. According to people dealing in unlisted shares of companies, Nykaa shares were trading at a premium of 68 per cent over the issue price of Rs 1,125 per share in the primary market. Likita Chepa, Senior Research Analyst, CapitalVia Global Research, told Financial Express Online, “Considering its potential, investors can hold this stock for medium to long term if it is allotted. “
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Aditya Kondavar, COO, JST Investments, expects the company to do well in the beauty products market. Kondavar said, “If you have been allotted a share, it can be put on hold. But new purchases should not be made at this time. In addition, investors should closely monitor the competitive intensity of the sector and see how they address those challenges.”
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Shares of Nykaa IPO may get listed at Rs 1,850
- Nykaa will use the funds raised from the IPO to strengthen its 13 owned brands such as Nykaa Cosmetics, Nykaa Naturals, and Kay Beauty. In addition, the proceeds of the IPO will be used for marketing and promotional activities of the brand. Compared to other startup IPOs listed, Nykaa has got a great response. Analysts said Nykaa being a profitable startup has become the preferred choice of investors.
- Abhay Doshi, Founder, UnlistedArena.com, told Financial Express Online, “We feel that it is becoming well-received by investors over the long term due to the quality management and entry into beauty and personal care products in the e-commerce category. We expect Nyka to be listed in the range of Rs 1800-1850 and it will not be a surprise even if it crosses the Rs 1,900 mark on listing.”
(Article: Surbhi Jain)
(The stock recommendations given in the story are those of the respective research analysts and brokerage firms. Financial Express Online takes no responsibility for the same. Investments in capital markets are subject to risks. Please consult your advisor before investing.)
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