FSN E-commerce Ventures’ fashion and beauty ecommerce portal Nykaa is expected to announce the allocation status of its initial public offering (IPO) on November 8.
Investors flocked to the firm in droves, with the IPO being oversubscribed by 82.42 times. In all, 216 crore equity shares have been bid for out of a total IPO size of 2.62 crore equity shares.
The initial public offering (IPO) was accessible for subscription from September 28 to November 1, with a price range of $1,085 to $1,125 per share. The business wants to generate $5,325 crore by launching its shares on the stock exchange.
Nykaa’s red herring prospectus states that the beauty and fashion ecommerce site plans to utilise the funds to acquire additional clients and companies. It also intends to expand its worldwide footprint by entering the Middle East and the United Kingdom before entering Europe.
Here’s how to check the status of your Nykaa IPO allotment on the stock exchange website: