Nykaa IPO Day 1: Issue subscribed 82% so far, retail portion fully subscribed

Asia's Tech News Daily

Nykaa IPO Day 1: Issue subscribed 82% so far, retail portion fully subscribed
© Provided by CNBCTV18

The initial public offering of Nykaa owner FSN E-Commerce Ventures has been subscribed 82 percent so far on October 28 at 14:54, the first day of bidding. The offer has received bids for 2.18 crore equity shares against the IPO size of 2.64 crore equity shares.

Nykaa IPO opened for subscription on October 28 at the price band of Rs 1,085-1,125 per share. It will conclude for bidding on November 1. The company raised close to Rs 2,400 crore from anchor investors ahead of the bidding process.

Retail investors subscribed to over 260 percent of their reserved portion. Whereas the non-institutional subscribers put in bids 36 percent of their reserved portion. Qualified institutional buyers subscribed to 46 percent of their reserved portion. The employee portion of the IPO was subscribed 41 percent of the portion set aside for them.

Also Read | Key things to know about Nykaa’s Rs 5,000 crore IPO

The company aims to use the proceeds from the issue to set p new retail stores, invest in Nykaa Fashion, establish warehouses, and other capital expenditure investments.

Brokerages have recommended subscribing to the IPO as the company has a first-mover advantage and bright future prospects. “Considering the future prospect for the company and it being placed at a sweet spot as the first-mover advantage, we assign a “subscribe-long term” rating to this IPO,” Anand Rathi said in a report.

With a diverse assortment of beauty, personal care and fashion products, Nykaa’s supremacy lies in its ability to retain and attract customers, Yesha Shah of Samco Securities said.

“Nykaa has witnessed sustained growth in GMV over the years and has the highest AOV. Its robust technology and content engine, focus on capital efficiency and positive unit economics coupled with immense headroom for penetration, provide the company with a long runway for growth. The dearth of PAT positive new-age companies in India and its first-mover advantage augurs well enabling Nykaa to command a higher premium,” Shah added.

“We believe the company is capable of improving its financial metrics and cementing its position going forward and hence recommend investors to Subscribe to the issue,” she said.

Motilal Oswal also recommended subscribing to the IPO, especially investors with a high-risk appetite. “Investors with a high-risk appetite can subscribe for listing gains given fancy for unique and first of its kind listing in the e-commerce space,” Motilal Oswal said in a report.

(As per subscription data available on exchanges till 14:54 pm) 

Catch latest stock market updates here

Internet Explorer Channel Network
Asia's Tech News Daily
News Related

OTHER NEWS

Panama blocks travelers from eight African countries due to Omicron variant

Passengers stand in line at the Tocumen International Airport during the coronavirus disease (COVID-19) outbreak, in Panama City PANAMA CITY (Reuters) – Panama on Thursday said it would temporarily ban ... Read more »

Decomposed bodies found in Lake Blaine home

Dec. 2—Investigators are working to determine the causes of death of two men found inside a residence in the Lake Blaine area. According to Flathead County Sheriff Brian Heino, a ... Read more »

Letters: Dahlkemper, gun violence, bail reform

Erie County Executive Kathy Dahlkemper deserves praise During my time in government, County Executive Kathy Dahlkemper and I haven’t always been on the same page. It’s fair to say I’ve ... Read more »

Man City transfer round-up: Club 'leading race' for Erling Haaland as scouts watch target

It’s no secret that Manchester City tried, and failed, to sign Harry Kane last summer. That failure has left a space in Pep Guardiola’s squad for a top-class forward and ... Read more »

Grizzlies rout Thunder by NBA-record 73 points

MEMPHIS, Tenn. — The Memphis Grizzlies broke the NBA record for margin of victory on Thursday night, beating the Oklahoma City Thunder 152-79. The 73-point margin easily topped the previous ... Read more »

Bond with Brian Flores helped Joe Judge bring Patrick Graham to Giants

Patrick Graham is the opposite of all the snowbirds who can’t wait to flee New York for sunny Florida. Graham gave up his job as Dolphins defensive coordinator after one ... Read more »

New World updates PTR adding Winter Convergence Festival

© Provided by Dot Esports Amazon Game Studios are again giving New World players a chance to test out upcoming content to the game early, thanks to an update headed ... Read more »

Beijing easing travel rules for U.S. business execs - China's envoy to U.S

© Reuters/BRIAN SNYDER The flags of the United States and China fly in Boston By Andrea Shalal and David Brunnstrom WASHINGTON (Reuters) – China will reduce the time needed for ... Read more »

How to complete the Project Paradise event in Fallout 76

© Provided by GamePur Project Paradise is one of the harder events to complete in Fallout 76. This event takes place in the basement of the Arktos Pharma building and ... Read more »

Genshin Impact: Dragonspine Special Training – Agility Training Day Three guide

© Provided by GamePur Genshin Impact’s special event is still ongoing, and a new set of challenges has opened for players. Players can continue to track through the Agility Training ... Read more »

Knicks' comeback falls short in loss to Bulls as referee woes continue

The Knicks’ frustration with the referees spilled over into the first half Thursday night at the Garden, and an ultimately failed comeback bid only added heartbreak to their list of ... Read more »

Reeling Islanders suffer tough overtime loss to Sharks

For the opening 10 minutes, the Islanders played like the Islanders of last season. But at the end of the night, it was the same movie with a slightly better ... Read more »

Angelica Panganiban regrets declining Four Sisters and a Wedding

© Provided by PEP.ph Angelica Panganiban recently revealed that she regrets turning down a role in the hit 2013 Star Cinema movie Four Sisters and a Wedding. In an interview ... Read more »

Philippines' 5G download speed nearly 10x faster than 4G — report

© Provided by BusinessWorld THE Philippines has shown the biggest improvement in download speeds globally, with average fifth-generation (5G) wireless technology download speeds nearly 10 times faster than the older ... Read more »

Marcos Jr.'s party asks Comelec to dismiss all petitions vs. presidential bid

© Tina Panganiban-Perez Former Senator Ferdinand ‘Bongbong’ Marcos Jr., son of the late President Ferdinand Marcos Sr., files his certificate of candidacy for President before the Commission on Elections at ... Read more »

Bonds from Philippines, India most at risk amid variant threat

© Provided by BusinessWorld BONDS from India and the Philippines look to be most vulnerable to further economic slowdowns in Asia as the threat from a new coronavirus variant revives ... Read more »

PH logs 564 new Covid-19 cases, year's lowest positivity rate

THE Philippines reported 564 new cases of the coronavirus disease 2019 (Covid-19) on Thursday, as the test positivity rate dropped to its lowest for the year at 1.7 percent, according ... Read more »

Bianca Umali, flattered by Ricky Lee's interest in her being the lead in the TV remake of Salome

On November 25, Kapuso actress Bianca Umali said she feels flattered by renowned writer Ricky Lee’s interest in her being the lead in the TV remake of Salome. © Provided ... Read more »

Go: I quit for Duterte's sake

SEN. Christopher Lawrence “Bong” Go appealed to his supporters for understanding following his decision to withdraw from the presidential race, saying his decision was in the best interest of President ... Read more »

Typhoon to bring rain but will not enter PAR

© PAGASA Typhoon to bring rain but will not enter PAR MANILA, Philippines — A typhoon with international name Nyatoh is expected to further intensify but will no longer enter ... Read more »

Selecta launches 12 Ways of Christmas

As Christmas is the season for giving, Selecta aims to spread the spirit of Happinas all over the country once again through 12 Ways of Christmas. Together with local retailers, ... Read more »

Fire razes textile building in Divisoria

© Miguel De Guzman Fire razes textile building in Divisoria MANILA, Philippines — At least P5 million worth of property was destroyed after a fire struck a commercial building in ... Read more »

Duterte: Go's decision to pull out of presidential race 'made a lot of people sad'

THE decision of Senator Christopher Lawrence “Bong” Go to withdraw his presidential bid in the May 2022 polls has “made a lot of people sad”, President Rodrigo Duterte said Thursday. ... Read more »

China-Laos train opens Fri

© The Manila Times The Lane Xang EMU train arrives at the northern Laos’ border town of Boten, after passing by the China-Laos borderline, Oct. 15, 2021. The streamlined The ... Read more »

A 'snake,' chicharon bulaklak, and earning one's keep in ‘After Six' conversations with JAZA and Lance Gokongwei

Based from his juicy scoops as of late, it seems that JAZA as a newshound of sorts is also as good as JAZA the newsmaker that many has been accustomed ... Read more »

Philippines bares new quarantine protocols for travelers from countries not on red list

A passenger tries to find a flight as several airlines have stopped flying out of South Africa, amidst the spread of the new SARS-CoV-2 variant Omicron, at O.R. Tambo International ... Read more »

Embark on Magical Adventures with Adorable Baby Bear Brothers in Original New Series, We Baby Bears, Premiering January 8 on Cartoon Network

Pinoys can travel up, up, and away to faraway places with the 2-episode premiere of the original animated comedy, We Baby Bears, Saturday, January 8 at 10:30am on Cartoon Network ... Read more »

India announces first two cases of Omicron variant

NEW DELHI: India announced its first two cases of the highly infectious Omicron Covid variant on Thursday, months after a devastating wave of the virus killed more than 200,000 people ... Read more »

Anthony Taberna pens emotional "2nd birthday" message for daughter Zoey

© Provided by PEP.ph A sentimental message was shared by broadcaster Anthony Taberna on his Facebook account this Thursday, December 2. Tungkol ito sa pagkakadiskubreng mayroong leukemia ng anak na ... Read more »

Why Nueva Ecija is worth the drive

AS over 30 percent of the Philippine population becomes fully vaccinated, more provinces in Northern Luzon are reopening their doors to visitors. One of them is Nueva Ecija, a landlocked ... Read more »

Which booster should I get? What to know about mixing vaccines and the omicron variant

© Provided by CNET Sarah Tew/CNET As of Thursday, three cases of COVID-19 caused by the omicron variant have been detected in the US, detected in people in California, Minnesota ... Read more »

China's aviation regulator expects 737 MAX to resume flights around year-end

By Stella Qiu and Jamie Freed © Reuters/Karen Ducey A Boeing 737 MAX airplane lands after a test flight at Boeing Field in Seattle BEIJING/SYDNEY (Reuters) -China’s aviation regulator expects ... Read more »

Kami tak akan leka selepas menang di Melaka, kata Naib Presiden Umno

© Provided by Free Malaysia Today Menurut Mohamed Khaled Nordin, Umno sebenarnya menjadi ‘lebih berhati-hati’ dan akan menggunakan semua data yang ada untuk menilai ‘mood’ rakyat. PETALING JAYA: Naib Presiden ... Read more »

Alec Baldwin Details How the Gun Went Off in Fatal 'Rust' Shooting, Says He Is Not Responsible

© Jim Spellman/Getty Images Alec Baldwin is opening up for the first time about the fatal shooting on the set of Rust. In his first sit-down interview since the incident back in October, ... Read more »

Jennifer Lopez Drops 'On My Way' Music Video for Single From Her Upcoming Film 'Marry Me'

© John Parra/GC Images Jennifer Lopez is tugging at the heart strings again, this time with her “On My Way” music video. Lopez on Thursday night dropped the video to ... Read more »

Covid risk remains higher for some ethnic groups

© Getty Images The risk of catching and becoming very sick from Covid remains higher for people belonging to certain ethnic groups, a major review has found. The Covid-disparities report, ... Read more »

Jets' Denzel Mims expected to get another extended look

Injury and illness have created a need for the Jets at wide receiver, and Denzel Mims looks like he will get a chance to fill that void. With the status ... Read more »

The One Claim From Alec Baldwin's Rust Interview That Has Twitter Fuming

Tinseltown/Shutterstock The tragic death of cinematographer Halyna Hutchins occurred on October 21, 2021, when she was fatally struck by a live round fired from a prop gun used by Alec ... Read more »

Alec Baldwin Makes A Bold Claim About His Future In Hollywood

Jim Bennett/Getty Images October 21, 2021, will forever stand as one of the darkest days in Hollywood history. What started out as just another day of filming on the set ... Read more »

China celebrity crackdown: producer questions blacklists before legal system has its say

Li Xuezheng is most famous for the hit political drama In the Name of the People He questioned whether a powerful industry association has the legal authority to blacklist artists ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic