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Shares of FSN E-Commerce Ventures, owners of Nykaa, on Wednesday made a stellar listing on the bourses with a premium of 78 per cent over the IPO price. On the BSE, it opened at ₹2,001, while on the NSE, even better at ₹2,018,
The company had fixed the IPO price as ₹1,125, at the upper end of the price band of ₹1,085-1,125 a share.
The IPO saw a robust response from all categories of investors with institutional portion and retail investors portions subscribing 91 times and 12 times, respectively. The non-institutional investors quota was subscribed by 112 times.
The company will use the funds for investments in subsidiaries to set up new retail stores and repayment or prepayment of outstanding borrowings. The equity shares of FSN E-Commerce Ventures Limited will be listed and admitted to dealings under ‘B’ Group of securities, BSE said
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