FSN E-Commerce Ventures, the operator of Nykaa and Nykaa Fashion chain, made a bumper debut as the stock listed with a massive 79 percent premium on November 10.
The share price opened at Rs 2,001 on the BSE and the listing price on the National Stock Exchange was Rs 2,018.
The Rs 5,352-crore public issue had seen a strong demand from investors as it was oversubscribed by 81.78 times during October 28-November 1, receiving bids for 216.59 crore equity shares against the offer size of 2.64 crore equity shares.
Qualified institutional buyers and non-institutional investors showed strong interest in the IPO as their reserved portion was subscribed 91.18 times and 112.02 times respectively, while a part set aside for retail investors was subscribed 12.24 times and that of employees saw 1.88 times subscription.
FSN E-Commerce Ventures, a digital native consumer technology platform, was promoted by banker-turned-businesswoman Falguni Nayar, and backed by private equity firm TPG Group.
The company runs beauty & personal care business under the Nykaa vertical, where it has a leading position, and apparel & accessories business under the Nykaa Fashion vertical. It also operates an offline channel, comprising 80 stores across 40 cities in India in three different store formats, as of August 2021.
