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Nykaa shares close with 96% gains on debut day, market cap at Rs 1.04 lakh crore

Nykaa IPO | The stock opened at Rs 2,001, a 79 percent premium over issue price, which was much higher than analysts' expectations and grey market premium.

November 10, 2021 / 05:53 PM IST
 
 
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Nykaa, the widely known name for Falguni Nayar-promoted FSN E-Commerce Ventures, saw bumper demand from investors on its debut day of November 10, as the stock doubled despite volatility in the market, backed by strong IPO subscription demand and superior management team along with strong brand and financials.

The stock rallied by Rs 1,081.70 or 96.15 percent to close at Rs 2,206.70 against issue price of Rs 1,125 on the BSE, and on the National Stock Exchange, it shot up 96 percent to Rs 2,205.80. It traded with volume of 3.59 crore equity shares.

FSN E-Commerce crossed Rs 1 lakh crore market cap, at Rs 1,04,360.85 crore, on the listing day itself, while the same at a day's high price of Rs 2,248.10 stood at Rs 1.06 lakh crore.

The stock opened at Rs 2,001, a 79 percent premium over issue price, which was much higher than analysts' expectations and grey market premium.