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Nykaa IPO : The IPO of Nykaa, a company that sells Beauty and Wellness products online, will open for subscription on October 28. But investors who invest in Nykaa’s IPO may get a lottery. Nykaa’s stock is trading at a premium of 60 percent in the Gray Market. This means that the share price has been fixed at Rs 1085 – 1125, so on the upper band, as of today, the share is trading at Rs 1800. Experts are predicting a further jump in the premium rate by the time of listing in the Grey Market.
IPO to open on October 28
FSN is preparing to raise Rs 5,200 crore from the market through E-commerce Ventures Limited’s Nykaa IPO. The Nykaa IPO will open for subscription on October 28 and investors will be able to bid for shares of the company till November 1. The issue price band is Rs 1,085-1,125 and a lot size of 12 shares is Rs 13,500. Investors can apply for a maximum share of 14 lots of Rs 1,89,000. SEBI approved Nykaa to launch an IPO on October 11.
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. While the company had a loss of Rs 16 crore in 2019-20, ITC Share Price: Why are investors keeping distance from ITC shares? Investors are worried about this.
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