Nykaa IPO: Nykaa's Rs 5,352 Crore IPO Opens Today

New Delhi: With a price band of Rs 1,085-1,125 per share, the Initial Public Offering (IPO) of Nykaa, has opened for subscription on Thursday and will conclude on November 1.

Notably, the online marketplace for beauty and wellness products Nykaa on Wednesday had raised Rs 2,396 crore from anchor investors, ahead of its IPO.

According to Bombay Exchange Data (BSE), as of 10:50 am on the first day of its bidding, the Nykaa IPO has been subscribed 0.19 times. The retail portion is fully booked with 1.02 times.

Meanwhile, the portion reserved for employees has been subscribed 0.06 times and non institutional investors (NIIs) 0.02x.

Nykaa GMP Today

According to market observers, Nykaa Grey Market Premium (GMP) is Rs 625 today. The company's shares are expected to list on leading stock exchanges NSE and BSE on November 11.

Nykaa is planning to raise Rs 5352 crore from its issue. The IPO comprises a fresh issue of equity shares worth Rs 630 crore and an offer for sale (OFS) of 4.19 crore shares by promoters and existing shareholders. Presently, the promoter holds 45.99 percent stake.

Nykaa will use the funds from the IPO to open new retail stores and warehouses, besides reducing debt.

The Security Exchange of India (SEBI), on October 14 had given approval to the company to launch its IPO between October 11 and 14.

Apart from Nykaa, the companies like star health insurance company, Penna Cement Industries, Adani Group's FMCG Company Adani Wilmar, Latent View Analytics and Sigachi Industries have also got approval of IPO from SEBI.

These companies had submitted the required documents for IPO with SEBI between May and August.

Nykaa was founded in 2012 by Falguni Nair, a former investment banker. The company sells beauty products. Apart from online sales, the company also sells through retail outlets. Its investors include big investors like TPG and Fidelity.

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