Nykaa IPO Subscribed 19.42 Times So Far On Final Day

New Delhi: The Initial Public Offering (IPO) of Nykaa will close on Monday and was subscribed 19.41 times so far, on day 3 of the bidding process.

As per the subscription data, the offer has received bids for 51.42 crore equity shares against an IPO size of 2.64 crore equity shares.

There was also 14.24 times a bid from Qualified institutional investors (QII), the portion set aside for them and non-institutional investors bought 37 times the shares against their reserved portion.

Meanwhile, retail investors subscribed 10 times and that of employees saw 1.62 times subscription.

Nykaa had raised Rs 2,396 crore from anchor investors, ahead of its IPO. The issue was fully subscribed on the first day of the sale.

Reportedly, in the grey market, Nykaa's shares managed to remain strong despite it witnessed slip on previous day. As of now, the share of Nykaa is around Rs 570 in the grey market today.

The company's shares are expected to list on leading stock exchanges NSE and BSE on November 11.

Nykaa planned 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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