When did Nike go public in the stock market, The subscription period for Nykaa’s initial public offering (IPO), an online marketplace for cosmetic products, ends on Monday (November 1). Nykaa is among a wave of very well organisations and enterprises that will go publicly in November.
Nykaa’s initial public offering (IPO) began on October 28 and was oversubscribed by 1.55 times on the first day. FSN E-Commerce Innovations Ltd’s initial share-sale was sold 4.82 times on the second day of offering. According to the BSE data, it was subscribed 9.7 times today.
All of Nykaa’s mobile apps received a total of 55.8 million downloads. Nykaa reported a net profit of 61.9 crores in FY21, up from a loss of 16.3 crores the year before. Nykaa originally started a physical location in 2014, and as of August 31, 2021, they have 80 locations in 40 cities.
The IPO of FSN E-Commerce Enterprises, which controls Nykaa, has received a ‘Subscribe’ rating from brokerage company Prabhuas Lilladher. According to the note, “We think Nykaa’s entrance into the modest clothing market offers hope with its concentrate on valued clients, compiled and controlled marketplace attempting to offer more than 1.8 million SKUs, private brand names such as NYKD and Pippa Bella, 20 dresses, and industry-standard AOV of 3977 and 25% participation to GMV in 5MFY22.”
The IPO consists of a new issue of shares at 630 crores and a leader and current investor offer for sale (OFS) of 41,972,660 share capital.
TPG Growth IV SF Pte Ltd, J M Financial and Investment Consultancy Services, Lighthouse India Fund III, Limited, Yogesh Agencies & Investments, Lighthouse India III Employee Trust, and some individual stockholders are among those selling shares in the OFS. The offer is valued at between $1,085 and $1,125 per stock.
Nykaa is a new digital customer electronics platform that provides consumers with a content-led, leisure shopping business. It was founded in 2012 by retired banker Falguni Nayar.