Nykaa enters top-50 most-valued firms club, stock up 109% from issue price

 

FSN E-Commerce Ventures (Nykaa) entered the list of top-50 most valued companies in terms of market captialisation in the country as the stock price of company more-than-doubled against its issue price. The stock hit a new high at Rs 2,349, on gaining 6 per cent on the BSE in Friday’s intra-day trade. With today’s rally, the stock has zoomed 109 per cent against its issue price of Rs 1,125 per share.

At 12:10 pm, with a market-cap of Rs 1.10 trillion, Nykaa stood at 48th position in overall market-cap ranking, the BSE data showed. Today, the company surpassed two-wheelers maker Bajaj Auto and personal products company Dabur India in market-cap ranking. Currently, Nykaa stood behind foodtech major Zomato, market-cap stood at Rs 1.17 trillion, data showed.

On Wednesday, November 10, 2021, Nykaa had made a strong stock market debut, as the shares ended at Rs 2,207, a hefty 96 per cent premium over its issue price of Rs 1,125 per share, on the BSE.

The Rs 5,300-crore initial public offering (IPO) of FSN E-Commerce Ventures, which operates Nykaa, had received strong investor response and was subscribed 82.4 times. The company plans to utilise the proceeds of the fresh issue for improving its brand visibility and awareness, debt repayment, and setting up retail stores and warehouses.

FSN E-Commerce Ventures, more commonly known as Nykaa, is a consumer technology platform, delivering a content-led, lifestyle retail experience to consumers through its diverse portfolio of beauty, personal care & fashion products including their own brand products.

Nykaa is the largest specialty beauty and personal care platform in India in terms of value of products sold in FY21 and one of the fastest growing fashion platforms in India based on growth in GMV. The company has the highest average order value (AOV) among leading online beauty and personal care platforms in India.

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