The retail investors’ portion was subscribed within an hour of the issue opening. The portion reserved for retail was subscribed 3.5 times in the end, whereas qualified institutional buyers put in bids 1.4 times of their reserved portion. The non-institutional investors’ and employee portions of the IPO were subscribed 60% and 68%, respectively.
Nykaa raised ₹2,400 crore from a bunch of anchor investors, including Canada Pension Plan Investment Board, BlackRock, and Fidelity, on Wednesday. Other investors include Capital International and the Govt of Singapore Investment Authority (GIC), said sources with direct knowledge of the matter.
Nykaa has fixed the price band of ₹1,085-1,125 for the IPO that opened on Thursday and closed on November 1. The company is seeking a valuation of $7 billion.
