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Nykaa Makes Share Market Debut, FSN Ecommerce Ventures Stock Market Debut Falguni Nayar

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Nykaa Makes Blockbuster Debut, Market Cap Crosses Rs 1 Lakh Crore

Nykaa shares opened for trading at Rs 2,018 on the National Stock Exchange.

Shares of beauty start-up Nykaa made a blockbuster debut on Wednesday with its market capitalisation crossing Rs 1 lakh crore. Shares of FSN E-Commerce Ventures, the company that owns the Nykaa brand, opened for trading at Rs 2,018 on the National Stock Exchange, up 79 per cent from its issue price of Rs 1,125 per share. On the BSE, Nykaa shares opened for trading at Rs 2,001, up 78 per cent from the issue price. Nykaa shares rose as much as 89 per cent to hit an intraday high of Rs 2,129 on the NSE.

Here are 10 things to know about Nykaa's bumper listing:

  1. Nykaa's three-day share sale via initial public offering (IPO), which closed on November 1, saw a huge demand as the offer was subscribed 82 times.

  2. The IPO of FSN E-Commerce Ventures Limited received over 200 crore bids against 2.64 crore shares on offer and raised Rs 5,352 crore from the IPO.

  3. Nykaa's IPO consisted of a fresh issue of Rs 630 crore and an offer for sale worth Rs 4,722 crore. At the upper end of the price band one lot of 12 Nykaa shares in the IPO cost Rs 13,500.

  4. Nykaa's IPO witnessed a huge demand from qualified institutional buyers as the portion reserved for them was subscribed 91.18 times. Among the QIBs (Qualified Institutional Buyers), foreign institutional investors (FIIs) placed bids for over 74 crore shares and domestic financial institutions (banks/financial institutions(FIs)/insurance companies) placed bids for over 30 crore shares, data from the National Stock Exchange showed.

  5. The portion set aside for retail investors was subscribed 12 times and the number of shares set aside for non-institutional investors was booked over 100 times.

  6. Nykaa's IPO is the latest in a year that has seen over 40 companies list on the domestic stock exchanges, the highest since 2016, as firms attempt to cash in on a market that has scaled record highs on the back of a decline in COVID-19 cases, the reopening of the economy and ample liquidity.

  7. Nykaa was founded by former investment banker Falguni Nayar, who was Managing Director of Kotak Mahindra Capital Company in the past. She is currently on board of Aviva Insurance, Dabur India and an independent member on the Tata Motors Board.

  8. Launched in 2012, Nykaa grew popular by selling cosmetics and grooming products on its website, apps and through its physical stores, before expanding into fashion, pet care and household supplies. Its investors include film actors Alia Bhatt and Katrina Kaif.

  9. As of 11:27 am, Nykaa shares traded 80 per cent higher, from the issue price at Rs 2,026, outperforming the Sensex, which was down 0.5 per cent.

  10. BofA Securities, Citigroup Global Markets, ICICI Securities, JM Financial Consultants, Kotak Mahindra Capital Company and Morgan Stanley India Company were among the IPO lead managers while Link Intime was the registrar.




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November 10, 2021, 6:40 am





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