As of data provided from National Stock Exchange (NSE), investors made bids for 14,59,08,624 equity shares as of 11.50 am on the third day, against the total issue size of 2,64,85,479 equity shares. The quote for retail investors received 4.68 times bids, whereas QIB’s quote was subscribed 2.50 times. HNI investor’s portion was subscribed 3.68 times, the data from NSE suggested.
The Rs 5,352 crore issue had sailed through on Day 1 itself, amid strong interest from retail investors.
The company has fixed the price band for the issue at Rs 1,085-1,125 per share. Despite the recent correction in the secondary markets, it is commanding a premium of Rs 570 apiece in the grey market, about 50 per cent over its issue pice.
The majority of brokerages are positive on the IPO and have given it a subscribe rating. However, Marwadi Shares and Finance has a word of caution for investors. The brokerage has given a ‘subscribe with caution’ rating to this IPO.
Considering the TTM as of June 2021, adjusted EPS of Rs 2.54 on a post-issue basis, the company is going to list at a P/E of 443.46 with a market cap of Rs 53,204 crore, it said.
The beauty-products omnichannel would raise Rs 630 crore via sale of fresh equity shares, whereas promoters and existing shareholders will offload 43.11 million shares worth Rs 4,723 crore.
Nykaa was founded in 2012 by Falguni Nayar, a former investment banker with Kotak Mahindra Bank. The start-up is a digitally native consumer technology platform, delivering a content-led, lifestyle retail experience to consumers.
