IPO
CPPIB, GIC, Blackrock, Fidelity, others invest Rs.2,396-Cr in Nykaa's anchor book
Global institutional investors including Canada's pension fund manager CPPIB, Singapore's sovereign wealth fund GIC, Blackrock and Fidelity have picked up a large chunk of shares in the anchor book allotment for the IPO of Nykaa (FSN E-Commerce Ventures Ltd), for INR 2395.84 crore. The company has allotted 2.13 crore shares to 174 anchor investors at INR 1,125 apiece, the upper limit of the IPO price band. Nykaa has fixed the price band of its IPO at INR 1,085-1,125 a share. At the estimated price band, the company will raise INR 4,554.03 crore to INR 5,351.92 crore. It is looking for a valuation of INR 52,574 crore (around USD 7.4 billion). The issue opens for subscription on October 28 and closes on November 1. The Nykaa IPO includes a primary issue of equity shares worth INR 630 crore, up from an INR 525 crore planned earlier, and an offer for sale (OFS) of 41.97 million shares by existing shareholders. The firm plans to list on November 11.
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