Investors playing for listing gain can keep a stop loss of 1950 while aggressive investors are advised to hold this stock.
Shares of FSN E-Commerce Ventures (Nykaa) opened at Rs 2,018 on the NSE, compared to the issue price of Rs 1,125, marking a premium of 79.38%.
The offer received bids for 216.59 crore shares as against 2.64 crore shares on offer.
PB Fintech IPO is not cheap, and compared to the last place in March 2021, the issue is at 2.5x that placement.
Nykaa offer alone may see bids worth anything between Rs 80,000 -Rs 90,000 crore in the HNI category, says a report
Ahead of the IPO shares of the company were trading at Rs 1,730 apiece in the grey market marking a premium of Rs 605 or 53.77%.
The firm is a new-age digital retail platform delivering a content-led, lifestyle retail experience to consumers.
The retail brand is going public at a valuation of a little over $7 billion
Nykaa has fixed the price band for the issue at Rs 1,085-1,125 per share. Investors can bid for a minimum of 12 shares & in multiples, thereafter.
Here are 9 key things you must know about the IPO before applying for it