Nykaa IPO Subscribed 4.8 Times On Second Day Of Issue, Retail Investors Bid Highest

E-commerce beauty giant Nykaa’s ₹ 5,352 crore initial public offering (IPO) was subscribed 4.82 times on the second day of issue, mostly on the back of high bidding by retail investors, according to subscription data on the stock exchanges. The beauty e-tailer’s IPO opened for bidding on Thursday, October 28, and will close for subscription on November 1.

On Friday, retail individual investors (RII) showed overwhelming interest as the portion reserved for them was subscribed 6.32 times – the highest among the three groups of investors. The portion set aside for the qualified institutional buyers or QIB was subscribed 4.72 times, while the portion reserved for the non-institutional individual investors was subscribed 4.17 times.

For the public offer, Nykaa has fixed a price band of ₹ 1,085-1,125 per share. Bids can be made for a minimum of 12 equity shares and in multiples of 12 equity shares thereafter up to 14 lots. A retail-individual investor can apply for up to 14 lots – 168 shares or ₹ 189,000.