Nykaa IPO: The Issue Will Open For Subscription This Week, Know About Its GMP

New Delhi: FSN Ecommerce Ventures, the parent company of online beauty product seller Nykaa, has fixed its issue price at Rs 1085-1125 per share. Accordingly, the valuation of the company is $ 7.11 billion i.e. Rs 53,200 crore. The company's issue will open on October 28 and close on November 1.

Nykaa is planning to raise Rs 5352 crore from its issue. In this, a fresh issue of Rs 630 crore and shares worth Rs 4772 crore will be sold in Offer for Sale (OFS). Presently the promoter holds 45.99 percent stake.

What is Gray Market Premium (GMP) of Nykaa's IPO?

The Gray Market Premium (GMP) of Nykaa's IPO in the unlisted market on Tuesday is Rs 690. Nykaa's shares may list on November 11.

Funds from the IPO will be used to open new retail stores and warehouses, besides reducing debt.

Notably, on October 14, the Security Exchange of India (SEBI) gave approval to the company to launch its IPO between October 11 and 14.

Apart from Nykaa, the companies like star health insurance company, Penna Cement Industries, Adani Group's FMCG Company Adani Wilmar, Latent View Analytics and Sigachi Industries have also got approval of IPO from SEBI. These companies had submitted the required documents for IPO with SEBI between May and August. Last week, the board gave approval to these six companies to for the same.

Nykaa was founded in 2012 by Falguni Nair, a former investment banker. The company sells beauty products. Apart from online sales, the company also sells through retail outlets. Its investors include big investors like TPG and Fidelity.

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