Shares of Nykaa gained on market debut after investors piled into the initial public offering of the beauty and personal care products retailer.
The stock listed at Rs 2,001 apiece, a 77.8% premium to its IPO price of Rs 1,125, according to Bloomberg data. It ended the day at Rs 2,205.80 apiece, up 96.07%. The company's market cap crossed Rs 1-lakh-crore mark.
The three-day IPO by FSN E-Commerce Ventures Ltd.—parent of the fashion and beauty marketplace—was subscribed 81.7 times. It was the fourteenth-most subscribed offer so far this year.
The firm had set a price band of Rs 1,085-1,125 apiece, giving it a market value of up to Rs 53,204 crore, or about $7.1 billion.
The NSE Bell has been rung in celebration of the FSN E-Commerce Ventures Limited (@MyNykaa) listing on the Exchange! #NSE #Listing #NYKAA pic.twitter.com/fkHWkrUDcI
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