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Nykaa IPO - Listing Date, GMP & Subscription

FSN E-Commerce Ventures Ltd IPO listing date: Nov 10, 2021 on NSE, BSE. Listed at ₹2001 (+78.0%) vs issue price of ₹1125. Subscribed 81.78x overall (QIB: 91.18x). Price band: ₹1,085-₹1,125, lot size 13 shares.

sHQ

stoicHQ Research Team · Ex-quants, IIT Delhi · Updated Nov 9, 2021

Key Dates

IPO Open DateOct 28, 2021

IPO Close DateNov 1, 2021

Allotment DateNov 5, 2021

Refund DateNov 8, 2021

Demat Credit DateNov 9, 2021

Listing DateNov 10, 2021

Issue Details

Price Band₹1,085-₹1,125

Issue Price₹1125

Face Value₹1

Lot Size13 shares

Min Investment₹14,625

Issue Size₹5,352 crore

Listing ExchangeNSE, BSE

RegistrarLink Intime India

IPO TypeMainboard

stoicHQ Analysis

✓Market leader in Indian beauty commerce

✓78% listing gain

✓Falguni Nayar founder credibility

⚠Extremely high valuation at listing

⚠Significant post-peak correction 2022-23

⚠Profitability questions at scale

About FSN E-Commerce Ventures Ltd

Nykaa is India's leading beauty and personal care omnichannel platform with 80+ stores. Founded by Falguni Nayar, former Kotak Mahindra investment banker.

Subscription Breakdown

Overall Subscription81.78x

QIB (Institutional)91.18x

NII (HNI)112.10x

Retail41.45x

Listing Price

₹2001

Listing Gain

+78.0%

Issue Price

₹1125

stoicHQ Analysis

Spectacular 78% listing gain driven by new-age consumer internet excitement. One of the most-discussed IPOs of 2021. Stock peaked well above listing price then fell significantly in 2022-23 as growth-at-any-cost valuations corrected. A case study in IPO euphoria vs fundamental value.

E-Commerce / Beauty2021All 2021 IPOs

IPO Listing Timeline

Previous IPO← Devyani International IPO (listed Aug 16, 2021)Next IPOPolicyBazaar IPO (listed Nov 15, 2021) →

More IPOs from 2021

Zomato IPO+52.6%Paytm IPO-27.3%PolicyBazaar IPO+18.2%

Nykaa IPO GMP - Historical Grey Market Premium

GMP is an unofficial market price. For educational purposes only.

DateGMP (₹)KostakImplied Gain

Nov 9, 2021+₹876-+77.9%

Nov 5, 2021+₹600₹5000+53.3%

Nov 1, 2021+₹380₹3500+33.8%

Oct 28, 2021+₹250₹2500+22.2%

Oct 25, 2021+₹180₹1800+16.0%

Oct 22, 2021+₹120₹1200+10.7%

Nykaa IPO Subscription Status - Day Wise

DayOverallQIBNII (HNI)Retail

Day 1 (Oct 28)11.61x8.96x10.25x12.23x

Day 2 (Oct 29)36.51x35.76x43.72x27.82x

Day 3 (Nov 1)81.78x91.18x112.10x41.45x

Anchor Investors

Fidelity Funds (FIL Inv. Mgmt)₹600 crore

BlackRock Global Funds₹520 crore

SBI Mutual Fund₹440 crore

Government Pension Fund Global₹400 crore

Mirae Asset Mutual Fund₹360 crore

FSN E-Commerce Ventures Ltd - Financials at IPO

YearRevenuePATNet Margin

FY19₹1,160 crore-₹1,629 crore-140.4%

FY20₹2,441 crore-₹1,163 crore-47.6%

FY21₹2,453 crore-₹560 crore-22.8%

Listed Peers - E-Commerce / Beauty

ZomatoConsumer Internet

+52.6% listing

PolicyBazaar (PB Fintech)Fintech

+18.2% listing

Paytm (One97 Comms)Payments Fintech

-27.3% listing

Frequently Asked Questions

What is the Nykaa IPO listing date?

Nykaa IPO listed on November 10, 2021 on NSE and BSE at ₹2,001 per share, a 78% gain over the issue price of ₹1,125.

What was the Nykaa IPO GMP?

The grey market premium (GMP) for Nykaa IPO reached ₹876 before listing, implying a 77.9% gain. GMP started at ₹120 in late October 2021 and rose steadily through the subscription period.

What was Nykaa IPO subscription status?

Nykaa IPO was subscribed 81.78x overall. QIB subscription was 91.18x, NII (HNI) was 112.10x, and retail was 41.45x. Day 1 was 11.61x, Day 2 was 36.51x, and Day 3 was 81.78x.

What was Nykaa IPO price band and lot size?

The Nykaa IPO price band was ₹1,085-₹1,125 per share. Lot size was 13 shares. Minimum investment was ₹14,625. Issue size was ₹5,352 crore.

What is the Nykaa IPO allotment date?

The allotment date for Nykaa IPO was November 5, 2021. Refunds were processed on November 8, 2021 and demat credit was on November 9, 2021.

Who is Falguni Nayar and what is her background?

Falguni Nayar is the founder and CEO of Nykaa. She was formerly a Managing Director at Kotak Mahindra Capital, one of India's top investment banks, before founding Nykaa in 2012 at age 50. She is one of India's most successful self-made female entrepreneurs.

What happened to Nykaa stock after listing?

Nykaa listed at ₹2,001 (78% gain). The stock peaked above ₹2,200 and then fell significantly in 2022-23 as growth-at-any-cost valuations corrected across new-age internet companies. It stabilised in the ₹150-200 range post-bonus adjustment.