New Delhi: The initial share-sale of FSN E-Commerce Ventures Ltd, which runs online marketplace for beauty and wellness products Nykaa, was subscribed 4.82 times Friday, the Day 2 of subscription.
The Rs 5,352-crore IPO received bids for 12,77,48,892 shares as against 2,64,85,479 shares on offer, according to an update on the NSE.
The category for qualified institutional buyers (QIBs) received 4.72 times subscription, while those for non-institutional investors 4.17 times and retail individual investors (RIIs) 6.32 times.
The initial share-sale of FSN E-Commerce Ventures was fully subscribed on the first day of subscription on Thursday.
The IPO of FSN E-Commerce Ventures comprises a fresh issue of equity shares worth Rs 630 crore and an offer-for-sale (OFS) of 41,972,660 equity shares by the promoter and existing shareholders.
Those selling shares in the OFS are — promoter Sanjay Nayar Family Trust and shareholders — TPG Growth IV SF Pte Ltd, Lighthouse India Fund III, Limited, Lighthouse India III Employee Trust, Yogesh Agencies & Investments, J M Financial and Investment Consultancy Services and some individual shareholders.
The price range for the offer, which would conclude on November 1, is at Rs 1,085-1,125 per share.
FSN E-Commerce Ventures Ltd on Wednesday raised Rs 2,396 crore from anchor investors.
According to the draft papers, the company plans to use the proceeds from the IPO for expansion, by setting up new retail stores and establishing new warehouses.
It also plans to retire some of its debt, which should bring down interest costs and further shore up its profitability.
In addition, the company is planning to deploy the proceeds of the IPO for marketing and promotional activities, to focus on strengthening its 13 owned brands such as Nykaa Cosmetics, Nykaa Naturals and Kay Beauty along with establishing and promoting new brands.
The company has a diverse portfolio of beauty, personnel care and fashion products, including its owned manufactured brand products, under its two business verticals — Nykaa and Nykaa Fashion.
Kotak Mahindra Capital Company, Morgan Stanley India Company, ICICI Securities, Bofa Securities India, JM Financial and Citigroup Global Markets India are the global coordinators and book running lead managers to the offer.
Shares of the company will be listed on the BSE and the NSE.
PTI