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Nykaa IPO: GMP, here's how to check share allotment status

An employee demonstrates the Nykaa application at one of the company's stores in New Delhi, India (Bloomberg) — An employee demonstrates the Nykaa application at one of the company's stores in New Delhi, India **(Bloomberg)**

2 min read . Updated: 05 Nov 2021, 10:19 AM IST Livemint

Nykaa IPO: The three-day initial share sale had opened on October 28 and closed on Monday, November 1

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The initial public offering (IPO) of FSN E-Commerce Ventures Ltd, which runs an online marketplace for beauty and wellness products Nykaa, was subscribed 81.78 times on the last day of subscription on Monday, mainly helped by huge interest from institutional investors. The initial share sale of Nykaa's parent company was fully subscribed on the first day of subscription.

Nykaa IPO's finalization of basis of share allotment is expected to take place next week on Monday, November 8, 2021. The bidders can check the share allotment status in the IPO registrar Link Intime India Private Limited's website here or stock exchange BSE's website here. The equity shares, if allotted, will be credited on November 10, 2021.

As per market observers, Nykaa shares continue to be available at a strong premium (GMP) of ₹640 in the grey market today. The company's shares are expected to list on leading stock exchanges NSE and BSE on November 11.

The IPO of FSN E-Commerce Ventures had a fresh issue of equity shares worth ₹630 crore and an offer for sale (OFS) of 4,19,72,660 equity shares by the promoter and existing shareholders. The price range for the offer was ₹1,085-1,125 per share.

Nykaa plans to use the proceeds from the IPO for expansion, by setting up new retail stores and establishing new warehouses. It also plans to retire some of its debt, which should bring down interest costs and further shore up its profitability.

Founded in 2012 by former investment banker Falguni Nayar, as of August 31, 2021, Nykaa had cumulative downloads of 55.8 million across all their mobile applications. Nykaa had posted a net profit of ₹61.9 crore in FY21 compared to a loss of ₹16.3 crore in FY20. Nykaa opened their first physical store in 2014, and has 80 physical stores across 40 cities as of August 31, 2021.

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