Nykaa makes blockbuster debut on share market with 79% growth

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Nykaa makes blockbuster debut on share market with 79% growth (
Nykaa makes blockbuster debut on share market with 79% growth (

New Delhi : FSN Ecommerce Ventures, the parent of e-commerce beauty giant, Nykaa made a stellar entry into the share market as its market capitalization crosses Rs 1 Lakh crores.

Nykaa share opened for trading at Rs 2,018 on the National Stock Exchange, up 79 per cent from its issue price of Rs 1,125 per share. On the BSE, Nykaa shares opened for trading at Rs 2,001, up 78 per cent from the issue price.

Nykaa's three-day share sale via initial public offering (IPO), which closed on November 1, saw huge demand for shares as the offer was subscribed 82 times. The IPO of FSN E-Commerce Ventures Limited received bids for 2,16,59,47,080 shares against 2,64,85,479 shares on offer and raised ₹ 5,352 crore through the issue.

Nykaa's IPO consisted of fresh issue of Rs 630 crore and an offer for sale worth Rs 4,722 crore. At the upper end of the price band one lot of 12 Nykaa shares in the IPO costed Rs 13,500.

Nykaa was founded by former investment banker Falguni Nayar who in past was Managing Director of Kotak Mahindra Capital Company. She is currently on board of Aviva Insurance, Dabur India and as an independent member on the Tata Motors Board.

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