FSN E-Commerce Ventures Ltd, the parent house company for Nykaa and Nykaa Fashion, listed on the stock market at a huge premium of 79%, on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). Nykaa's market capitalisation stands at ₹1 lakh crore after the stellar listing.
The share price stood individually at BSE, at ₹2001, and hovered around ₹2002-₹2003 at around 10.30 AM. The listing price at NSE was at ₹2018, while it hovered down to ₹2002, trading at a premium of over 78 percent.
This listing success was widely accepted as Nykaa shares traded at a huge premium in the grey market industry, at a day before listing. Successful Nykaa IPO biders, have got huge returns owing to listing gains. Most analysts have already given a subscribe rating and listing prices for Nykaa, given the company's take on online beauty and personal care space.
The 5352 IPO witnessed strong demand from the investors, and was oversubscribed by more than 81 times between October 28 and 1st November. It received tenders for over 216 crore equity shares against the offer size of just 2.64 crore shares.
Nykaa was founded in 2012 by an investment banker, Falguni Nayar. It is one of the most popular platforms in the online beauty and personal care space, offering content-led lifestyle experience to customers.
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