Nykaa IPO: FSN E-Commerce Ventures, which runs online marketplaces like Nykaa and Nykaa Fashion, has been subscribed 4.86 times so far. Before the IPO, Nykaa had raised Rs 2396 crore from anchor investors.
Nykaa’s issue has been subscribed 6.51 times so far on the last day of subscription. While the reserve share for retail investors is 8.84 times. On the other hand, NII has bid 8.45 times and QIB has bid 4.86 times its share so far. While the reserve share for the employees of the company has been bid at 1.48 times.
What’s going on GMP?
According to market experts, the gray market premium of Nykaa has now come down to Rs 570. The issue price of Nykaa is Rs 1085-1125. Accordingly, the unlisted shares of the company are trading at Rs 1695 (1125 + 570) in the gray market.
A day before the issue opens, Nykaa has raised Rs 2400 crore from anchor investors. Anchor investors had bid 40 times more than Nykaa had reserved the portion for anchor investors.
Nykaa’s parent company FSN E-Commerce Ventures had reserved shares worth around Rs 2,400 crore for anchor investors. Investment firm BlackRock Capital Group and asset manager Fidelity made the biggest bid for these shares. Apart from this, many big global institutional investors including Canada’s largest pension fund manager CPPIB and Singapore’s sovereign wealth fund GIC participated in this bid.
In the last financial year, the company’s revenue increased to Rs 2,441 crore and made a profit of Rs 61.9 crore.
The company’s mobile apps had around 4.37 crore downloads by the end of March. Purchases made through mobile apps account for more than 86 percent of its online gross merchandise value.
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