FSN E-Commerce Ventures Ltd, which runs Nykaa, an online marketplace for beauty and wellness products, has raised Rs 2,395.8 crore from 174 anchor investors ahead of its initial public offer (IPO).
The company, in consultation with the merchant bankers, has finalised the allocation of 2.1 crore equity shares in aggregate to anchor investors at the upper price band of Rs 1,125 apiece.
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Among key anchor investors are BlackRock Global Funds, Fidelity Funds, Government of Singapore, Aditya Birla Sun Life Trustee Private Ltd, Nippon Life India Trustee, Axis Mutual Fund Trustee, Canada Pension Plan Investment Board, JPMorgan Indian Investment Trust Plc, Nomura Funds, Abu Dhabi Investment Authority, HSBC Global Investment Funds, Sundaram Mutual Funds, Goldman Sachs Funds, CLSA Global Markets Pte, Veritas Funds Plc, Morgan Stanley Asia (Singapore) Pte, Kotak Funds and Societe Generale, according to an exchange filing.
The issue will open for subscription on Thursday, and close on November 1. The lower limit of the price band is Rs 1,085, and the upper limit is Rs 1,125.
The IPO of the firm, which runs Nykaa and Nykaa Fashion, comprises fresh issuance worth Rs 630 crore and an offer for sale (OFS) worth Rs 4,721 crore.
Also Read | Nykaa IPO opens today: Should you subscribe?
At the upper end of the price band, the issue size stands at Rs 5,351.9 crore.
The company will use the net proceeds from the issue to invest in FSN Brands and Nykaa Fashion. It also aims to set up new retail stores for Rs 42 crore.
It will also use these proceeds for capital expenditure and investment in subsidiaries like Nykaa E-Retail, Nykaa Fashion and FSN Brands. It will use Rs 42 crore for setting up warehouses.
First Published: Oct 28, 2021 8:13 AM IST
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