Nykaa makes blockbuster debut on stock exchanges
The shares of FSN E-Commerce Ventures — the parent company of a blockbuster listing on the Indian stock markets on Wednesday, with close to 100 percent rise in its share price, more than living up to the expectations of the investors. — had
Nykaa — India’s first profitable startup to head for an IPO — had priced its initial public offering (IPO) at Rs 1,125 per share, which rose by 80 percent at the opening on the Indian stock markets.
During the day, the share price of Nykaa never really dipped and closed at Rs 2,208 on the National Stock Exchange (NSE) — a 96 percent gain to its IPO price. It was a 9.42 percent gain as compared to the pre-market open of Rs 2,018 per share.
Before the listing, Nykaa shares had commanded a premium of 60-65 percent in the grey market.
The market capitalisation of Nykaa also touched Rs 1,04,42,232.93 lakh crore. The volume of shares traded was 3,43,24,631 while the value was Rs 7,17,230.33 lakh.
The initial public offering (IPO) of Nykaa raised Rs 5,351.92 crore through the book building route, comprising a fresh issue of Rs 630 crore and an Offer For Sale (OFS) of Rs 4721.92 crore. The IPO price range was Rs 1,085-1,125.
With this, investment banker-turned-entrepreneur Falguni Nayar has become India’s newest self-made billionaire. Falguni’s net worth topped $6.5 billion post-listing.
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News & Updates
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