Nykaa IPO: FSN E-Commerce has actually priced its IPO at Rs 1,085 to Rs 1,125 per shareCosmetics to style start-up Nykaa got quotes for 40 times the variety of shares it prepares to sell to anchor investors in its going public (IPO), a source with direct understanding said on Wednesday, showing strong interest in the sale.Investment company Blackrock Capital Group and asset manager Fidelity were among the leading purchasers in the Rs 2,396 crore sale of shares that FSN E-Commerce Ventures, the business which owns the Nykaa brand, used to institutional investors, the source stated, declining to be recognized as the details was not public.The share sale to anchor financiers will close later Wednesday.
Nykaa did not immediately respond to an ask for comment.FSN E-Commerce has priced its IPO at Rs 1,085 to Rs 1,125 per share, providing Nykaa an appraisal of as much as $7.11 billion.The company intends to raise nearly $500 million through a three-day IPO subscription from Oct.
28 to Nov 1.
The IPO includes providing brand-new shares worth approximately Rs 52.5 crore and offering up to 43.1 million existing shares.Nykaa, whose investors consist of private equity firm TPG, Fidelity and Indian movie starlet Alia Bhatt, has said it will utilize the IPO proceeds to establish new retail stores, fund capital costs and repay debts.The bookrunning lead supervisors for the IPO include BofA Securities, Morgan Stanley, Kotak Mahindra Capital, Citigroup, ICICI Securities and JM Financial.