The ₹5,300-crore preliminary public providing (IPO) of trend e-tailer Nykaa, owned by FSN E-Commerce Ventures Ltd, was oversubscribed 82.42 on the third and remaining day of the general public share sale.
As of 5.30 pm on Monday, Nykaa acquired bids for almost 2.17 billion shares in comparison with the difficulty dimension of 26.28 million shares, excluding anchor allotment, confirmed inventory trade knowledge. On the higher finish of the band of ₹1085-1125, it drew bids of round ₹2.43 trillion. The institutional investor class acquired bids for 1.31 billion shares, or 92.17 instances the shares on supply, knowledge confirmed.
The non institutional class, comprising excessive networth people, was subscribed 112.51 instances. Demand from retail traders, who can make investments as much as ₹2 lakh in an IPO, stood at 12.29 instances.
Service provider bankers had been inspired by the response to the IPO regardless of weak point and volatility within the secondary markets. That apart, hefty gray market premium, hinting at sharp itemizing good points, additionally drew traders in giant numbers.
In Mumbai’s gray market, Nykaa’s shares had been quoted at a premium of ₹560-570 apiece on Monday, two sellers stated on the situation of anonymity.
Supply: Live Mint