Moments after the markets opened on Wednesday, the Nykaa market cap surpassed Rs. 1 lakh crore and shares were trading at Rs. 2,018 with an approximate 80 per cent premium
Nykaa, the e-commerce behemoth and India’s first unicorn startup led by a woman, made a splash on Dalal Street today, more than a week after its initial public offering (IPO). Moments after the markets opened on Wednesday, the Nykaa market cap surpassed Rs. 1 lakh crore, and shares were trading at Rs. 2,018 with an approximate 80 per cent premium. According to reports, Nykaa’s market capitalization has already surpassed that of industry titans such as Britannia, Godrej, and IndiGo.
Although financial stocks fell this morning as the markets got off to a slow start, investors are keeping an eye on fashion e-commerce startup Nykaa’s market debut.
Because Nykaa shares are being listed today, here are the steps to check the status of allotment on the Bombay Stock Exchange’s (BSE) website. How do I check the status of my Nykaa allotment on the BSE?
1. Go to the BSE India website and click on the relevant link to check the status of your issue application.
2. Log in to the website using your application number and PAN number.
3. Determine whether the issue is equity or debt.
4. Complete the captcha verification to show the system that you are not a bot.
5. To check the status of your allotment, click the’search’ button.
The mainstreaming of digital adoption has made new-age unicorns household names, but Nykaa is the most excited about because it is one of the “rare unicorns” that is profitable and has a strong brand recall. According to experts, Nykaa has sparked a lot of interest and is expected to generate listing gains of 60-70 per cent, with some even predicting gains of 100 percent. Due to the massive oversubscription, retail investors are likely to keep their allotment to a minimum.
Meanwhile, Nykaa has stated that the IPO proceeds will be used to open new retail locations, fund capital expenditures, and repay debts.
Source: Business World