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Nykaa makes strong debut on bourses, opens at Rs 2,001 per share on BSE
Nykaa shares were listed on the Bombay Stock Exchange at Rs 2,001 per share while the Shares of Nykaa opened at a premium of 79% at Rs 2,018 per share on the NSE as against issue price of Rs 1,125 per share.
Nykaa operator FSN E-Commerce Ventures IPO made a strong debut on bourses on Wednesday. Nykaa shares were listed on the Bombay Stock Exchange at Rs 2,001 per share while the Shares of Nykaa opened at a premium of 79% at Rs 2,018 per share on the NSE as against issue price of Rs 1,125 per share.
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Earlier, Nykaa initial public offering (IPO) was subscribed 82 times on the last of the subscription on November 1, 2021. Of 2,64,85,479 shares on sale, a bidding for whooping 2,16,58,63,836 shares or 81.78 times were made on the final day of the subscription.
— NSEIndia (@NSEIndia) November 10, 2021
The IPO saw maximum traction from Non-Institutional Investors (NIs). The three-day IPO of FSN E-Commerce Ventures Ltd, which runs online marketplace for beauty and wellness products Nykaa, had opened on October 28.
कहां होगी #Nykaa की लिस्टिंग?
क्या दोगुना हो जाएगा Nykaa का शेयर?
— Zee Business (@ZeeBusiness) November 10, 2021
Talking about the stock market movement today, V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said today's trading activity in the market is likely to be dominated by the listing and trading in Nykaa.
"Investors should not be carried away by the exuberance in the IPO market where IPOs are made at a huge premium. Even in this highly-valued market, there are some high-quality stocks available at reasonable valuations. For instance, in financial services and health care. Investors may look at such tried and tested names rather than chasing high priced IPOs driven by expectations," he said.
The Rs 5,352-crore public issue comprises fresh stock and an offer for sale. The price band for this IPO has been kept at Rs 1,085-1,125 per share.
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