Nykaa’s initial public offering or initial public offering was opened for subscription last month and the company’s share grant status will close on November 8th. Nykaa’s IPO received a great response from investors when it opened from subscription. Subscribed The Nykaa IPO was subscribed 81.78 times, the majority of which were subscribed by non-institutional buyers. The proportion of Qualified Institutional Buyers (QIBs) was reportedly 91.18 times subscribed, and that allocated to non-institutional investors 112.20 times. In the meantime, private investors (RIIs) have booked the issue 12.24 times. The e-commerce company has set the price range for its IPO at Rs 1,085 to Rs 1,125 per share. With an upper price range of Rs 1,125, Nykaa’s IPO is eligible to raise up to Rs 5,352 billion from its initial issue.
“The IPO is valued at a price / revenue of 21.0-21.8x revenue in FY 2021 of Rs 2,441 billion. The company also achieved a strong revenue CAGR of 48.2 percent between FY 2019-20 despite the Covid crisis and posted a profit in FY 2021. While the valuations may seem expensive on a P / E basis, Nykaa is one of the very few profitable unicorns in India and we believe the company is well positioned to benefit from the exponential growth of the online beauty and fashion retail business for the next Years to Benefit Decade, “Angel One said in a note on the Nykaa IPO assessment.
Nykaa IPO GMP
Nykaa is currently one of the fastest growing beauty and fashion platforms in the country based on gross product value growth. Investors have been keeping an eye on the IPO as the company sold most of its products on India’s online beauty and personal care (BPC) platform in FY21. This was supported by Nykaa’s omnichannel -proach, robust distribution network and the company’s founder-led management team.
The company’s gray market premium, or GMP, sold for Rs 650 on Saturday, as reported by people trading in unlisted shares in the companies. Nykaa’s GMP was 58 percent above the high end of the issue price of Rs 1,125 per share. On October 27th, Nykaa shares were traded on the unlisted market at Rs 1,725 -iece. A rising GMP often indicates a healthy listing of the stocks on the stock exchanges.
As to check Nykaa IPO grant status
The grant status of Nykaa’s IPO is expected to be finalized on November 8th. In order to check the allotment status of the Nykaa IPO, investors can choose one of the two routes – a) via BSE b) via the registrar’s website. Once finalized, unqualified investors will receive their refunds by November 9th, while equity will be credited to eligible investors’ Demat accounts the next day, November 10th.
Nykaa’s shares are expected to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on November 11th.
Let’s take a look at how you can check Nykaa IPO grant status:
About BSE: First, go to the BSE official website https://www.bseindia.com/investors/ -pli_check.aspx, which will take you to a page called “Status of Issue -plication”. Click on the ‘Equity’ option then select ‘FSN E-Commerce Ventures Ltd’ from the drop down menu. After that, all you have to do is enter your -plication number and your permanent account number (PAN) before verifying the c -tcha. Click the ‘Search’ button to view the status of your -plication.
Via the registrar’s website (Link Intime India):
First, go to Link Intime India’s official website at the link https://www.linkintime.co.in/IPO/public-issues.html. Then select the option “FSN E-Commerce Ventures Ltd” from the drop-down list under “Companies”. The name is only filled in when the allocation is complete. Select one of the three modes to check the status – -plication number, client ID or PAN ID. Under -plication Type, choose between ASBA and Non-ASBA, then enter the details of the mode you selected earlier. Now fill out the c -tcha and enter the option “Send” to receive your quota status.
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