Nykaa’s IPO was worth Rs 5400 crore, but the company took away Rs 4.38 lakh crore from the market!

Nykaa IPO Update: The IPO of Nykaa, a company that sells Beauty and Wellness products online, closed on Monday, which has received a great response from investors. Nykaa’s IPO has been oversubscribed a total of 81.8 times. According to data provided by the National Stock Exchange (NSE), investors bid for 2,16,59,47,080 equity shares till 5 pm on Monday, while the total issue size was 2,64,85,479 equity shares. Retail investors’ quota is oversubscribed 12.3 times, while QIB Portion 92.2 times and HNI’s quota 112.5 times. The company’s target was Rs 5,400 crore through IPO, but the company has received applications for Rs 4.38 lakh crore, which is the second highest amount received in oversubscription in the country’s IPO history.

It is believed that the investors who were allotted shares of Nykaa can get their lottery. Nykaa’s stock is trading at a 60 percent premium in the Gray Market. This means that the share price has been fixed at Rs 1085 – 1125, then the stock is trading at Rs 1795 – 1805 in Gray Market. Experts are predicting a further jump in the premium rate by the time of listing in Gray Market.

FSN came up with a plan to raise Rs 5,200 crore from the market through the Nykaa IPO of E-commerce Ventures Ltd. Most of the brokerage firms have shown a positive attitude regarding this. The issue price band is Rs 1,085-1,125 and a lot size of 12 shares is Rs 13,500.

Falguni Nair is the promoter of Nykaa

Falguni Nair, Sanjay Nair, Falguni Nair Family Trust and Sanjay Nair Family Trust are the promoters of the company. Nykaa was founded in 2012 by Falguni Nair, a former investment banker. Today, it is a leading multi-brand beauty and personal care platform in India and is making its presence felt in the fashion space. With the money raised from the IPO, the company will open new retail stores as well as set up new warehouses. Along with expansion, the company is also planning to repay some debt. So that the interest cost can be reduced.

Nykaa listing possible on November 11th!

Kotak Mahindra Capital Company, Morgan Stanley India Company, BofA Securities India, Citigroup Global Markets India, JM Financial and ICICI Securities are the merchant bankers to the issue. Nykaa is planning to list on the major stock exchanges BSE and NSE on November 11. The company had made a profit of Rs 61.9 crore in 2020-21. The revenue of the company has also increased from Rs 1768 crore to Rs 2441 crore. Whereas in 2019-20, the company had a loss of Rs 16 crore.

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