New Delhi: Early Shares Sales FSN E-commerce Ventures Ltd., which runs the online market for Nykaa’s beauty and health products, subscribes to 81.78 times on the last day of subscribing on Monday, especially assisted by great interest from institutional investors.
IPO Crore RS 5,352 accepted an offer for 2,16.59.47,080 shares against 2.64.85,479 shares offered, according to data available with NSE.
This category is intended for qualified institutional buyers (QIBS) subscribing to 91.18 times, non-institutional investors 112.02 times and individual retail investors (RIIS) 12.24 times.
Early stock sales from FSN E-commerce Ventures fully subscribe on the first day of subscribing on Thursday.
IPO Business E-commerce FSN has a fresh issue of equity stock worth Rs 630 Crore and offers for sale 4.19.72.660 Equity shares by promoter and existing shareholders.
The price range for offers is Rs 1,085-1.125 per share.
FSN E-commerce Ventures Ltd on Wednesday Raises Rs 2,396 Crore from an Investor Anchor.
According to a draft paper, the company plans to use the results of the IPO for expansion, by preparing a new retail store and building new warehouses.
It also plans to retire some of its debt, which must reduce interest costs and further onto profitability.
In addition, the company plans to spread the results of the IPO for marketing and promotional activities, to focus on strengthening 13 brands such as NYKAA cosmetics, Nykaa Naturals and Kay Beauty along with building and promoting brand new.
The company has a variety of beauty portfolios, personnel care, and fashion products, including brand products produced by themselves under two vertical businesses – Nykaa and Nykaa Fashion.
Mahindra Capital Company Box, Morgan Stanley India Company, Icici Securities, Bofa Securities India, JM Financial and Citigroup Global Markets India is a global coordinator and book running tin manager for offers.
The company’s shares will be registered with BSE and NSE.