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  5. Nykaa IPO GMP: Online beauty store's Grey Market Premium strong, share price rises by 70 per cent

Nykaa IPO GMP: Online beauty store's Grey Market Premium strong, share price rises by 70 per cent

Nykaa IPO GMP, Nykaa share price: Nykaa shares are commanding a Grey Market Premium of 70 per cent. Nykaa IPO subscription/allotment status will be out on November 8. 

India TV Business Desk Edited by: India TV Business Desk
New Delhi Published on: October 29, 2021 16:20 IST
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Nykaa IPO Grey Market Premium rises by 70 per cent 

Nykaa IPO GMP Today, Nykaa IPO Allotment Status: The initial share-sale of FSN E-Commerce Ventures Ltd, which runs online marketplace for beauty and wellness products Nykaa, was subscribed 3.53 times on the second day of subscription on Friday. 

Nykaa is a multi-brand beauty and personal care platform and is expanding rapidly into fashion and lifestyle segments.

The subscription of Rs 5,352 crore IPO will end on November 1. Nykaa share price range is at Rs 1,085-1,125. The market lot size for Nykaa IPO is 12 shares. A retail investor can bid for a minimum of 1 lot and a maximum of 14 lots. At the higher cut off, one lot will cost Rs 13,500.

Nykaa IPO GMP (Grey Market Premium) 

In the grey market, Nykaa shares are commanding a strong premium. Nykaa's unlisted shares are trading at a premium of Rs 700 per share which is around 70 per cent above the bid price.

Nykaa IPO allotment will be finalised on November 8. Nykaa shares will be credited into the Demat accounts of the successful bidders on November 1.

Nykaa IPO Listing Date

Nykaa shares will be listed on the BSE and NSE. Nykaa shares will debut on Indian bourses on November 11.

Nykaa IPO comprises a fresh issue of equity shares worth Rs 630 crore and an offer for sale (OFS) of 41,972,660 equity shares by the promoter and existing shareholders. Those selling shares in the OFS are -- promoter Sanjay Nayar Family Trust and shareholders -- TPG Growth IV SF Pte Ltd, Lighthouse India Fund III, Limited, Lighthouse India III Employee Trust, Yogesh Agencies & Investments, J M Financial and Investment Consultancy Services and some individual shareholders.

Nykaa IPO raised Rs 2,396 crore from anchor investors ahead of the IPO.  

Nykaa has said that it has plans to use the proceeds from the IPO for expansion, by setting up new retail stores and establishing new warehouses. It also plans to retire some of its debt, which should bring down interest costs, and further shore up its profitability.

Nykaa is also planning to deploy the proceeds of the IPO for marketing and promotional activities, to focus on strengthening its 13 owned brands such as Nykaa Cosmetics, Nykaa Naturals and Kay Beauty along with establishing and promoting new brands.

Nykaa has a diverse portfolio of beauty, personnel care and fashion products, including its owned manufactured brand products, under its two business verticals -- Nykaa and Nykaa Fashion.

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