Nykaa IPO fully subscribed on Day 1, retail portion sees 3.5 times bidding on Day 1
The retail quota saw 66,28,752 bids against an allowed quota of 47,53,187 shares for this segment, according to the NSE bid information around 11.30 a.m. The Nykaa IPO was oversubscribed 1.3 times within an hour of opening.
The Nykaa IPO received a significant reaction from investors, with the issue being fully subscribed on the first day of sale. Retail investors and Qualified Institutional Buyers (QIB) both had their share oversubscribed. The apparel e-commerce company’s initial public offering (IPO) will be accessible for subscription until Monday evening, with a target of Rs 5,352 crore in the primary market. Nykaa’s parent firm, FSN E-Commerce Ventures Ltd, raised Rs 2,395 crore from 174 anchor investors ahead of the IPO, including well-known names like Blackrock, Fidelity, JP Morgan, HDFC, ICICI, Nomura, and Abu Dabhi Investment Authority.
According to people who trade in unlisted shares, the company’s shares were trading at a substantial premium of roughly Rs 600-650 per share in the grey market.
The retail quota saw 1,66,33,956 bids against the authorised amount of 47,53,187 shares for this segment, according to the BSE bid statistics after the closing time at 5 p.m. Retail Individual Investors (RIIs) oversubscribed the issuance 3.5 times.
Non-Institutional Investors also subscribed 0.60 times the issue, with 42,64,632 shares bid against the alloted 71,29,781 shares. It was subscribed to 1.39 times by Qualified Institutional Buyers (QIBs).