Nykaa anchor book subscribed 40x on strong institutional interest

FSN E-Commerce Ventures, which owns beauty startup Nykaa, has seen 40 times more demand than shares on offer in the anchor book, said people in the know.

A total of Rs 2,396 crore worth of shares are available in the anchor category. A clutch of large foreign as well as domestic funds have submitted bids worth over Rs 95,000 crore.

“Investment bankers are still collating and finalising the allotment. The process should be completed by 9pm,” said a source.

Canada Pension Fund, Blackrock, Capital, Fidelity are some of the global funds that have made an application in the anchor category, added sources.

Nykaa’s Rs 5,300-crore IPO opens for subscription on Thursday. The IPO price band is Rs 1,085-Rs 1,125 per share. At the upper end of the price band, the company will be valued at Rs 53,200 crore.

The IPO comprises a fresh issue of Rs 630 crore and an offer for sale (OFS) of Rs 4,722 crore.