Nykaa IPO Subscribed 4.8 Times On Second Day Of Issue, Retail Investors Bid Highest
E-commerce beauty giant Nykaa's Rs 5,352 crore initial public offering (IPO) was subscribed 4.82 times on the second day of issue, mostly on the back of high bidding by retail investors, according to subscription data on the stock exchanges. The beauty e-tailer's IPO opened for bidding on Thursday, October 28, and will close for subscription on November 1.
On Friday, retail individual investors (RII) showed overwhelming interest as the portion reserved for them was subscribed 6.32 times - the highest among the three groups of investors. The portion set aside for the qualified institutional buyers or QIB was subscribed 4.72 times, while the portion reserved for the non-institutional individual investors was subscribed 4.17 times.
For the public offer, Nykaa has fixed a price band of ₹ 1,085-1,125 per share. Bids can be made for a minimum of 12 equity shares and in multiples of 12 equity shares thereafter up to 14 lots. A retail-individual investor can apply for up to 14 lots - 168 shares or Rs 189,000.
Founded by banker-turned-businesswoman Falguni Nayar, the beauty and fashion marketplace was incorporated in 2012 and is the country's first woman-led unicorn. FSN E-Commerce Ventures - runs the beauty and personal care segment through Nykaa and the apparel and accessories vertical through Nykaa Fashion.
''Nykaa is the largest specialty beauty and personal care platform in India in terms of value of products sold in FY21.The mobile phone space in India has been significantly disrupted by smartphones in the last 5-6 years, driven by availability of low-cost alternatives from local as well as global brands.
The company at the upper band of the IPO is offered at 21.6x price to sales for FY21. The valuation of the IPO is rich, demanding a market cap of Rs. 532,040 million.
The company has a unique business proposition amongst its customer base and also has an aspirational brand image which augurs well in the long term
Considering the future prospect for the company and it being placed at a sweet spot as the first mover advantage we assign “Subscribe-Long Term” Rating to this IPO,'' domestic brokerage firm Anand Rathi said in its IPO note.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
-
Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
-
Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
-
'Never Seen This Level Of Negativity': Sandeep Tandon Says The Next Rally May Be Closer Than You Think
Veteran investor Sandeep Tandon says foreign selling is easing, large-caps are due a comeback and mid-caps are crowded, while he turns positive on gold, power and pharma this Diwali.
