Nykaa IPO Retail Portion Fully Subscribed Within 1 Hour Of Opening

As had been the buzz around the Nykaa IPO, there has been seen phenomenal interest in the online fashion retailing company. In just hour, the retail portion has been fully subscribed. As per the NSE data, retail investors as against the available quota of 47,53,187 shares have made an application for 55,47,960 shares by noon.

Overall subscription status as at 12:08 pm as per the brokerage app shows to be 0.35*. On an overall basis, investors made bids for 83,24,076 equity shares or only 31 per cent as of 11.45 am, against the total issue size of 2,64,85,479 equity shares.

A host of brokerages have given a 'Subscribe' rating to the IPO given the potential the company has in the online cosmetic and fashion industry as well as the market share it can still garner.

Know whether or not you should tap this investment opportunity.

From the over Rs. 5000 crore IPO, the company will be issuing equity worth Rs. 630 crore and the remaining shall be an OFS.. Marwadi Shares and Finance has a word of caution for investors and has given the IPO with a 'subscribe with caution' rating.
Considering the TTM as of June 2021, adjusted EPS of Rs 2.54 on a post-issue basis, the company is going to list at a P/E of 443.46 with a market cap of Rs 53,204 crore, it said.

The chances of listing gains as well as long term prospects as rated by Angel Broking on its app are moderate.

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