Nykaa’s IPO Got 4.82 Percent Subscription On Second Day

Nykaa’s IPO got a 4.82 percent subscription on the second day of launch. Nykaa’s IPO was subscribed 4.82 percent on the second day of launch i.e. on Friday.

According to an update on NSE, bids were received for 12,77,48,892 shares in the Rs 5,352 crore IPO, while there were 2,64,85,479 shares on offer.

Qualified institutional buyers (QIBs) received 4.72 percent subscriptions, while non-institutional investors received 4.17 percent subscriptions.

While retail individual investors (RIIs) got 6.32 times the subscription. The initial share-sale of Nykaa, owned by FSN E-commerce Ventures, was fully subscribed on the first day of subscription on Thursday.

Nykaa’s IPO consists of a fresh issue of equity shares worth Rs 630 crore and an offer-for-sale (OFS) of 41,972,660 equity shares by the promoter and existing shareholders.

Promoters who sold shares under OFS include Sanjay Nair Family Trust, TPG Growth IV SF Pte Ltd, Lighthouse India Fund III, Ltd.

Lighthouse India III Employees Trust, Yogesh Agencies & Investments, JM Financial & Investment Consultancy Services and a few Contain the names of individual shareholders.

The price range is Rs 1,085-1,125 per share for the offer expiring on November 1. Apart from this, FSN E-Commerce Ventures Limited on Wednesday raised Rs 2,396 crore from its anchor investors.

According to the draft papers, the company will use the proceeds from the IPO to expand, open new retail stores and new warehouses.

Apart from this, the company is also planning to repay some of its debt.

The FSA Company also intends to use the IPO proceeds for 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 K Beauty.

Kotak Mahindra Capital Company, Morgan Stanley India Company, ICICI Securities, BofA Securities India, JM Financial, and Citigroup Global Markets India are the Global Coordinators and Book Running Lead Managers of the offer.