BUSINESS NEWS

nika ipo subscribed 1.55x on first day – nika ipo subscribed 155x on first day

Written by admin

nika ipo subscribed 1.55x on first day – nika ipo subscribed 155x on first day

New Delhi, Oct 28 (PTI) The initial public offering (IPO) of Nyca, which sells beauty and care products ‘online’, got 1.55 times more subscriptions on Thursday, the first day of application. FSN E-Commerce Ventures Limited operates Naika.

According to NSE data, the company’s IPO received bids for 4,09,73,280 shares worth Rs 5,352 crore, while 2,64,85,479 shares were offered for sale.

The Qualified Institutional Buyer (QIB) category received 1.39x, retail investors 3.50x and non-institutional investors 60 per cent subscription.

The IPO of FSN E-Commerce Ventures Limited involves fresh issuance of Rs 630 crore and 41,972,660 shares of promoters and existing shareholders are being sold through offer of sale in the market.

The price range for the issue is Rs 1,085-1,125 per share.

FSN E-Commerce Ventures Ltd said it raised Rs 2,396 crore from anchor investors on Wednesday. The company will use the proceeds of the IPO for expansion, opening of new retail stores and warehousing centers.

#nika #ipo #subscribed #155x #day #nika #ipo #subscribed #155x #day

See also  yahoo shuts down its news websites in india yahoo shuts down its news websites in india

About the author

admin

Leave a Comment

close
%d bloggers like this: