The much-awaited IPOs of Paytm and Nykaa, the homegrown fashion brand, finally came to an end on Thursday, 11 November, with the latter having a blockbuster start on listing day with its valuation crossing Rs 1 lakh crore.
The issue price for Nykaa was Rs 2,018 apiece, with a premium of 79 percent over its issue price. But the strong demand from all categories of investors resulted in the company making it to the top 100 mid-caps on the Bombay Stock Exchange, ahead of giants like State Bank of India and even Coal India.
The rally in the markets also resulted in the company’s founder, Falguni Nayar, net worth touching USD$ 7 billion, making her India’s wealthiest self-made female billionaire.
But while on one end Nykaa made out like a bandit, Paytm’s parent company, One97 Communications, struggled to garner a full subscription, with less than 50 percent of the stock being subscribed even on the second day of listing. And according to analysts, one of the reasons for the weak response could be the massive size of the issue itself.
But while on one end Nykaa made out like a bandit, Paytm’s parent company, One97 Communications, struggled to garner a full subscription, with less than 50 percent of the stock being subscribed even on the second day of listing. And according to analysts, one of the reasons for the weak response could be the massive size of the issue itself.
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