Nykaa initial public offer or IPO had opened for subscription last month and the share allotment status of the company will be finalised on November 8, Monday. The Nykaa IPO received a huge response from investors from the time it opened from subscription. It was subscribed The Nykaa IPO was subscribed 81.78 times, with most of it being subscribed by non-institutional buyers. The share allotted for the qualified institutional buyers (QIBs) was subscribed 91.18 times, while that allotted for non-institutional investors was subscribed 112.20 times, according to reports. Meanwhile, the retail individual investors (RIIs) booked the issue 12.24 times. The e-commerce company has fixed the price band for the IPO at Rs 1,085-1,125 per share. At upper price band of Rs 1,125, Nykaa IPO is eligible to raise up to Rs 5,352 crore from its maiden issue.
“The IPO is being valued at price/sales of 21.0-21.8x FY2021 revenues of Rs 2,441 crore. The company has also posted strong revenue CAGR of 48.2 per cent between FY2019-20 despite the Covid crisis and register a profit in FY2021. While valuations may appear to be expensive on a P/E basis Nykaa is one of the very few profitable unicorns in India and we believe that the company is well positioned to benefit from the exponential growth in the online beauty and fashion retailing business over the next decade,” said Angel One in a note on Nykaa IPO valuation.
Nykaa IPO GMP
Nykaa is one of the fastest growing beauty and fashion platforms in the country right now based on gross merchandise value growth. Investors have eyed the IPO as the company had sold the highest amount of products among India’s specialty beauty and personal care (BPC) online platform in FY21. This has been backed by Nykaa’s omnichannel approach, robust distribution network and company’s founder-led management team.
The grey market premium or GMP of the company was selling at Rs 650 on Saturday, as per the the people who deal in unlisted shares of the companies. Nykaa’s GMP was 58 per cent up over the higher end of the issue price at Rs 1,125 per share. On October 27, the shares of Nykaa was trading at Rs 1,725 apiece in the unlisted market. A soaring GMP often indicates a healthy listing of shares on the bourses.
How to Check Nykaa IPO Allotment Status
The allotment status of Nykaa IPO is set to be finalised on November 8. To check Nykaa IPO allotment status, investors can opt for one of the two ways — a) via BSE b) via registrar’s website. After the finalisation, ineligible investors will get theirrefunds by November 9, while the equity shares will be credited to the demat accounts of eligible investors on the next day, November 10.
The shares of Nykaa is likely to listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on November 11.
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