Nykaa IPO: Strong debut of the giant beauty company in the stock market, the market cap crossed 1 lakh crore as soon as it was listed
Beauty and personal care sector Giant platformNykaa The parent company of FSN Ecommerce Ventures has a strong listing in the stock market on Wednesday. With the listing today, the company’s market capitalization has crossed ₹1 lakh crore. Nayak’s IPO opened at the end of last month. Today it was listed on both the stock exchanges. Shares of Heroine opened today at a price of Rs 2,001 per share on the Bombay Stock Exchange. This price is 78 percent more than its issue price. The shares of the company opened for trading on the National Stock Exchange at the rate of Rs 2,018 per share, 79 percent more than the issue price.
Heroine’s shares jumped 89 per cent in early trade on the NSE and the shares reached their intraday high of 2,129, the highest level of the day. Due to the jump in the share price, the market cap of the heroine went up to 1 lakh crores. At 11.15 am, its price was being recorded at Rs 2,023 per share.
Let us tell you that the IPO of the heroine was open for three days and closed on November 1. The offer was subscribed 82 times in the IPO. Bidding of 2,16,59,47,080 shares came on the offer of 2,64,85,479 shares of the company. The company raised 5,352 crores through this IPO.
The company had brought a fresh issue of 630 crores in the primary market offering on 28 October. In this, an offer for sale of 4,722 crore shares was issued. Nykaa had kept the price of each share in its IPO from Rs 1,085 to Rs 1,125.
Nykaa is the leading company in the BPC segment today. Since its inception as an online marketplace, it has carved a niche in the fashion segment and retail sector along with building its own beauty and personal care brand. It was started in 2012 by Falguni Nair, a banker turned businesswoman. It has a primary app of Nykaa for beauty and personal care, apart from Nykaa Fashion, where apparels, accessories, fashion products are associated. More than 4,000 beauty, personal care and fashion brands are linked to its retail stores on its apps.