Comments
The IPO of FSN E-Commerce Ventures, a multi-brand beauty, personal care and fashion platform under Nykaa, IPO was subscribed fully on Day 1 itself. The price band for the offer has been fixed at ₹1,085-1,125 a share. The issue will close on November 1.
The issue saw strong response from retail investors. The retail portion was subscribed 3.5 times while the non-institutional investor category received bids worth 0.6 times.
The Qualified institutional buyer category was subscribed 1.39 times and the employees portion saw 0.68 times subscription, making the issue subscribed 1.55 times overall on day 1 itself.
The IPO comprises fresh issue of shares worth ₹630 crore and an offer for sale of shares worth ₹4,721.92 crore by several selling shareholders including the promoters and investors.
Anchor investors
Ahead of the issue on Wednesday, FSN E-Commerce Ventures mopped up ₹2,396 crore from 174 anchor investors. The company has finalised allocation of 2.13 crore shares to anchor investors, at ₹1,125 a share, at the upper end of the price band.
Among the marquee investors included Blackrock Global Funds, BEST Investment Corporation, Emerging Markets Growth Fund, Fidelity Funds, Government Of Singapore, Canada Pension Plan Investment Board, T Rowe Price, JP Morgan, Aberdeen Abu Dhabi Investment Authority, CLSA, Goldman Sachs, and Monetary Authority of Singapore.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.