The public issue of WomanCart has garnered healthy response in the market with subscriptions of 60.94 times on the final day of bidding on October 18, as investors picked up 6.77 crore equity shares against an offer size of 11.12 lakh.
Retail investors looked more aggressive compared to high net-worth individuals (HNIs), buying 71.94 times the portion set aside for them, while HNIs have bid 56.4 times the allotted quota.
The online retail platform that sells beauty brands and wellness products aims to raise Rs 9.56 crore through the initial public offering of 11.12 lakh equity shares at a price of Rs 86 per share. The offer comprises only a fresh issue component by the company.
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Most of net fresh issue proceeds will be utilised for branding and marketing, app development, and working capital requirements, besides general corporate purposes.
Apart from offering beauty and wellness products, WomanCart also sells lifestyle brands, and runs brick and mortar stores comprising two physical stores in Delhi and one kiosk.
The Delhi-based company is in consultation with the National Stock Exchange to finalise the basis of allotment of the IPO shares by October 23, while successful investors will get shares in their demat accounts by October 26.
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The listing of its equity shares will take place on the NSE Emerge on October 27, as per IPO schedule.
The WomanCart shares were available at a 15 percent premium over the IPO price, in the grey market, an unofficial platform where the IPO shares can be bought and sold till the listing, analysts on an anonymity said.
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