Nykaa IPO Allotment Status Declared
Nykaa IPO GMP, Nykaa Share Price: Nykaa IPO Allotment Status has been announced. Nykaa IPO bidders can check their application status online by visiting the website link of the Registrar Intime India Private Limited or BSE.
The IPO of Nykaa’s parent FSN E-Commerce Ventures Ltd, which runs an online marketplace for beauty and wellness products, was subscribed more than 82 times.
The shares of Nykaa will be credited to the demat accounts on November 10. Nykaa shares will be listed on NSE and BSE on November 11.
As per data available with NSE, the Rs 5,352 crore Nykaa IPO received bids for 2,16,59,47,080 shares, while there were 2,64,85,479 shares on offer. The category meant for Qualified Institutional Buyers (QIBs) was subscribed 91.18 times, non-institutional investors 112.02 times and Retail Individual Investors (RIIs) 12.24 times.
The IPO of FSN E-commerce Ventures had fresh issue of equity shares worth Rs 630 crore and offer for sale (OFS) of 4,19,72,660 equity shares by the promoter and existing shareholders. The offer price range was Rs 1,085-1,125 per share. FSN E-Commerce Ventures Ltd had raised Rs 2,396 crore from anchor investors prior to the IPO.
Nykaa IPO GMP
Shares of Nykaa are trading at a strong premium of over 65 per cent in the gray market. The unlisted shares of Nykaa are trading at a premium of Rs 700 to the issue price of Rs 1,125 per share.
According to draft papers, Nykaa plans to use the proceeds from the IPO for expansion, setting up new retail stores and setting up new warehouses. It also plans to repay some of its debt, which should bring down interest costs and further enhance its profitability.
Nykaa plans to deploy the proceeds of the IPO to marketing and promotional activities to focus on establishing and promoting new brands as well as strengthening its 13 owned brands such as Nykaa Cosmetics, Nykaa Naturals and Kay Beauty Is. The company has a diversified portfolio of beauty, personnel care and fashion products, which includes its proprietary manufactured brand products under its two business verticals – Nykaa and Nykaa Fashion.
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