The preliminary share-sale of FSN E-Commerce Ventures Ltd, which runs a web-based market for magnificence and wellness merchandise Nykaa, was subscribed 81.78 occasions on the final day of subscription on Monday, primarily helped by enormous curiosity from institutional traders.
The Rs 5,352 crore IPO obtained bids for two,16,59,47,080 shares towards 2,64,85,479 shares on provide, in keeping with information accessible with the NSE.
The class meant for certified institutional patrons (QIBs) was subscribed 91.18 occasions, non-institutional traders 112.02 occasions and retail particular person traders (RIIs) 12.24 occasions.
The preliminary share sale of FSN E-Commerce Ventures was totally subscribed on the primary day of subscription on Thursday.
The IPO of FSN E-Commerce Ventures had a recent difficulty of fairness shares value Rs 630 crore and a suggestion on the market (OFS) of 4,19,72,660 fairness shares by the promoter and current shareholders.
The worth vary for the provide was Rs 1,085-1,125 per share.
FSN E-Commerce Ventures Ltd on Wednesday raised Rs 2,396 crore from anchor traders.
According to the draft papers, the corporate plans to make use of the proceeds from the IPO for growth, by organising new retail shops and establishing new warehouses.
It additionally plans to retire a few of its debt, which ought to convey down curiosity prices and additional shore up its profitability.
In addition, the corporate is planning to deploy the proceeds of the IPO for advertising and marketing and promotional actions, to concentrate on strengthening its 13 owned manufacturers akin to Nykaa Cosmetics, Nykaa Naturals and Kay Beauty together with establishing and selling new manufacturers.
The firm has a various portfolio of magnificence, personnel care and vogue merchandise, together with its owned manufactured model merchandise underneath its two enterprise verticals — Nykaa and Nykaa Fashion.
Kotak Mahindra Capital Company, Morgan Stanley India Company, ICICI Securities, Bofa Securities India, JM Financial and Citigroup Global Markets India are the worldwide coordinators and guide operating lead managers to the provide.
Shares of the corporate might be listed on the BSE and NSE.
