01 November 2021, Mumbai:
Nykaa brand owing FSN E-Commerce Ventures went for Rs 5,352-crore IPO, closed yesterday with an overwhelming subscription of 82.4x, accomplished by robust subscriptions by high net worth investors (HNIS) and financial institutions (FIs).
Albeit there is some bit of skepticism amongst the investor community that the stock was overpriced, as it is observed that varied global institutions competed directly with each other to grab a piece of the anchor book that was opened a day earlier the IPO's launch on October 28.
Notably, at the upper end of the price band, let us not forget that the price-to-earnings ratio for this stock was well above 800.
Rs 5,300-crore preliminary public providing (IPO) of NYKAA, did witness a very consistent investor frenzy at heightened investor interest & passion and was resultant it oversubscribed 82.4 times till concluding day i.e. Monday.
According to the TOI report," As things stand it gathered 2.16 billion bids for the 21.2 million stocks, except the anchor portion of the investment. The institutional investor portion was once subscribed to 92 instances, the rich investor portion 112.5 instances, the retail investor portion 12. three times, and the portion reserved for staff by way of 1.8 instances.
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