Nykaa shares make dream debut; close with over 96 per cent premium

New Delhi, November 10

Shares of FSN E-Commerce Ventures, which runs an online marketplace for beauty and wellness products Nykaa, closed the day with a huge premium of over 96 per cent against the issue price of Rs 1,125 on Wednesday.

The stock debuted at Rs 2,001, reflecting a jump of 77.86 per cent on the BSE. It then zoomed 99.83 per cent to Rs 2,248.10 during the day. The stock closed at Rs 2,206.70, up 96.15 per cent.

On the NSE, it listed at Rs 2,018, a premium of 79.37 per cent. It closed at Rs 2,208, a gain of 96.26 per cent.

The company’s market valuation went past Rs 1 lakh crore mark and closed at Rs 1,04,438.88 crore on the BSE.

The initial share-sale of FSN E-Commerce Ventures was subscribed 81.78 times earlier this month.

The Rs 5,352-crore IPO had a price range of Rs 1,085-1,125 per share.

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. PTI