Nykaa IPO fully subscribed on day one; retail tranche booked 3.50x
Nykaa's Rs 5,350 crore IPO (price band Rs 1,085-1,125) was subscribed 1.55x overall on day one, led by retail at 3.50x. QIB portion booked 1.39x, NII 60%. Anchor round raised Rs 2,396 crore. Issue closes November 1 with a likely BSE/NSE debut on November 11, 2021.
What happened
Nykaa's IPO was fully subscribed on day one, with retail portion booked 3.50 times. The Rs 5,350 crore offer, priced Rs 1,085-1,125, closes November 1 with
Key facts
- subscribed 1.55x overall
- retail 3.50x
- QIB 1.39x
- NII 60%
- price band Rs 1,085-1,125
- raise Rs 5,350 crore
- anchor Rs 2,396 crore
- fresh issue Rs 630 crore
- OFS 41,972,660 shares
- promoter stake 52.56% post-IPO
Why this matters
The Rs 2,396 crore anchor round plus broad oversubscription validate beauty-retail multiples and set a comp benchmark for any adjacent D2C or omnichannel M&A theses.
What to watch
- Final subscription multiples at issue close (Nov 1)
- Anchor lock-in expiry dates (30-day and 90-day)
- Listing-day open price vs Rs 1,125 upper band
- Broad Nifty/Sensex sentiment into Nov 11
- First post-IPO quarterly results and margin trajectory
- QIB and NII portions likely fill further by close on Nov 1 as institutions anchor final allocations
- Grey market premium chatter to intensify ahead of Nov 11 debut
- Comparable listed beauty/consumer-internet peers may see sympathy re-rating
- Brokerages to issue post-listing coverage with valuation caution flags