Nykaa's IPO of Rs 5,300 crore witnesses strong interest from investors, subscribed 82 times
By MYBRANDBOOK
The initial public offering (IPO) of FSN E-Commerce Ventures under which Nykaa operates received a good response from the investors and was subscribed 82.4 times on the concluding day of the issue. The IPO is of Rs 5,300 crore.
The company has received 2.16 billion bids for the 21.2 million shares, excluding the anchor portion, that were on offer. The institutional investor portion was subscribed 92 times, the wealthy investor portion 112.5 times, the retail investor portion 12.3 times, and the portion reserved for employees by 1.8 times.
After Zomato, it is the second biggest IPO. Zomato drew bids worth Rs 2 trillion and it was subscribed more than 38 times.
Last week, shares worth Rs 2,396 crore was allotted by the company to a bunch of large foreign as well as domestic funds. The anchor investors submitted bids worth over Rs 95,000 crore and demand was 40 times more than shares on offer. Canada pension fund, BlackRock, and Fidelity, among others were the anchor investors.
FSN E-Commerce Ventures had set a price band of Rs 1,085-1,125 apiece for its IPO, which comprised a fresh issue of Rs 630 crore and an offer for sale (OFS) of Rs 4,722 crore.
The company plans to utilise the proceeds of the fresh issue for improving its brand visibility and awareness, debt repayment, and setting up retail stores and warehouses.
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