Nykaa IPO gets subscribed 82 times on November 1

New Delhi: The IPO of Nykaa and Nykaa Fashion operator FSN E-Commerce Ventures was subscribed 82 times by November 1, the issue's final day of bidding, which began on October 28.

According to subscription data, the offer attracted bids for 216.5 crore equity shares, compared to an IPO size of 2.64 crore equity shares.

Qualified institutional investors (QII) bid 91.18 times their reserved amount, while non-institutional investors bought 112.02 times their reserved portion.

A portion set aside for retail investors was subscribed to 12.06 times, while a portion put aside for employees was subscribed to 1.87 times.

Nykaa, which is sponsored by Falguni Nayar, plans to raise Rs 5,351.92 crore through an IPO. The offer consists of a Rs 630 crore fresh issuance and a Rs 4,721.92 crore offer-for-sale of shares by the promoter and investors. The price range for the offer is Rs 1,085-1,125 per share.

According to the draft papers, the company intends to use the IPO proceeds to expand by opening new retail locations and establishing new warehouses.