IPO Corner: Here’s all the latest news from the IPO-bound train of Indian startups

Nykaa makes stellar debut on Dalal Street

It’s a big day for the Indian startup ecosystem, as Nykaa, one of the only profitable tech unicorns to go public listed with a pop of nearly 80% today and also hit a market cap of Rs 1 lakh crore on debut, making it the 55th highest valued company in India in the listed space.

The startup is now valued more than the likes of Brittania, InFo Edge, IndiGo and others, making founder and CEO Falguni Nayyar the richest self-made female billionaire in the country.

Earlier in the day, Nykaa shares debuted at Rs 2,001 on BSE, a premium of 77.9 percent over the issue price, and Rs 2,018 on NSE, a premium of 79.4 percent. Nykaa’s IPO received a robust response from investors. The public offer of FSN E-Commerce, which concluded on November 1, saw a subscription of 82 times.

In an interview with CNBC-TV18, Falguni Nayar, Executive Chairperson, MD & CEO of FSN E-Commerce Ventures (Nykaa) said e-commerce within the retail sector has been growing at a very fast pace and some of the valuations reflect that high pace of growth.

Nayar said the company will continue to focus on new customer acquisition with financial discipline.

PharmEasy files papers for Rs 6,250 crore IPO

PharmEasy has filed preliminary papers with capital markets regulator Sebi for a public listing to raise over Rs 6,250 crore via an initial share sale.

The funds will be raised through the fresh issuance of equity shares, according to PharmEasy’s draft red herring prospectus (DRHP). The company may also consider a pre-IPO fundraise of about Rs 1,250 crore before it files the red herring prospectus with the Registrar of Companies (RoC). If the round takes place, the size of the IPO will be reduced.

It intends to use the capital raised from the issue to prepay and repay outstanding borrowings availed by the parent and subsidiary firms. It also intends to use Rs 1,259 crore to fund organic growth initiatives. It has set aside Rs 1,500 crore for inorganic growth opportunities via acquisitions and other strategic actions.

Pharmeasy will focus on core areas of growth like marketing and promotional activities to increase brand awareness, supply chain infrastructure, and technology capabilities, it said in the DRHP.

Paytm IPO closes; issue subscribed 1.89 times on final bidding day

The Rs 18,300-crore IPO of digital payment’s major Paytm was subscribed 1.89 times on November 10, the third and final day of bidding, receiving bids for 9.13 crore equity shares against an offer size of 4.83 crore shares.

The portion set aside for retail investors was subscribed 1.66 times, while the reserved portion of non-institutional investors was subscribed 24 percent, and qualified institutional buyers have put in bids 2.79 times the portion set aside for them.

The offer opened for investors on November 8 and it closed today. The price band for the offer was fixed at Rs 2,080 to Rs 2,150 per equity share.

 

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