Nykaa makes strong market debut, stock lists at 79% premium to issue price

Shares of Nykaa listed at a premium of 79% to the issue price today, marking a strong listing for the online beauty retailer. The subsidiary of FSN E-Commerce Ventures Ltd made its market debut at Rs 2,001 per share on the BSE against the IPO issue price of Rs 1,125. Price band of the IPO was fixed at Rs 1,085-1,125 per share.

Total 6.35 lakh shares of the firm changed hands amounting to turnover of Rs 129.01  lakh crore on BSE. Market cap of the firm rose to Rs 1 lakh crore. The share hit a fresh high of 2,129 in early trade, marking 89.24% gain to the IPO price.

The IPO was open for subscription from October 28 to November 1. On NSE, the share opened at Rs 2,018. Total 1.12 crore shares of the firm changed hands on NSE.

The initial public offering (IPO) of Nykaa's parent FSN E-Commerce Ventures Ltd was subscribed more than 82 times at the end of the final day of bidding on November 1. The firm raised Rs 2,396 crore from anchor investors on October 27.

The company planned to raise Rs 5,350 crore through the IPO. The offer size of the share sale was reduced to 2.64 crore equity shares from over 4.75 crore equity shares.

The share sale comprises equity shares aggregating up to Rs 630 crore (fresh issue) and an offer for sale of up to 41,972,660 equity shares being offered by the selling shareholders (offer for sale or OFS).