New Delhi: Within an hour of opening of subscription, the retail quota of the Rs 5,352 crore IPO of FSN E-commerce Ventures, the parent firm of , was fully subscribed. NSE data showed that by noon retail individual investors had applied for 55,47,960 shares as against the quota of 47,53,187 shares. This translated to an oversubscription of 1.17 times.
Overall, investors made bids for 83,24,076 equity shares or only 31 per cent as of 11.45 am, against the total issue size of 2,64,85,479 equity shares.
Majority of brokerages are positive on the IPO and have given it a subscribe rating. However, Marwadi Shares and Finance has a word of caution for investors. The brokerage has given a ‘subscribe with caution’ rating to this IPO.
Considering the TTM as of June 2021, adjusted EPS of Rs 2.54 on a post-issue basis, the company is going to list at a P/E of 443.46 with a market cap of Rs 53,204 crore, it said.
The beauty-products omnichannel would raise Rs 630 crore via sale of fresh equity shares, whereas promoters and existing shareholders will offload 43.11 million shares worth Rs 4,723 crore.
Investors can apply for Nykaa IPO till Monday, November 1.
The unicorn was founded in 2012 by Falguni Nayar, a former investment banker with Kotak Mahindra Bank. The start-up is a digitally native consumer technology platform, delivering a content-led, lifestyle retail experience to consumers.
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