Nykaa Listing: Under the IPO of beauty products e-commerce chain Nykaa, its shares have been listed in the stock market on Wednesday. The company’s stock is listed on NSE in 2018 and BSE on 2001. The issue price of the company was Rs 1125. In such a situation, it is listed at a premium of more than Rs 900. Since the listing, this stock has been steadily rising.
82 Guna was over-subscribed
Shares have been allotted to the investors investing in the IPO on Monday, November 8. Nykaa’s IPO was open for subscription on 28 October and closed on 1 November. The IPO is oversubscribed 81.8 times. The company’s target was to raise Rs 5400 crore, but the company has received an application of Rs 4.38 lakh crore. The company had fixed a price band of Rs 1,085-1,125 per share for the IPO.
The operator company of beauty products was to raise Rs 5,352 crore through IPO. Of this, Rs 630 crore was raised through fresh equity. Promoters and shareholders have sold their 4.31 crore shares. Its value will be Rs 4,723 crore. The company will use Rs 130 crore out of the IPO amount to pay off the debt. While Rs 200 crore will be spent on marketing of brands.
After this bumper listing, there will certainly be a wave of happiness among all those people who would have invested money in the IPO and they would have been allotted shares. However, there will definitely be some disappointment among those people who may not have got the shares. In the opinion of experts, the future of this company is going to be good in the coming times. In such a situation, after this bumper listing, it can be re-invested if the price softens a bit.
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