FSN E-commerce Ventures (Nykaa) listed at Rs 2,018 on the NSE, a premium of 78 per cent over its issue price
Published On: Wednesday, November 10, 2021 | By: Team KnowMyStock
Shares of FSN E-commerce Ventures (parent company of Nykaa) made a stellar debut on the bourses today (10-11-2021). Its scrip was listed at Rs 2,018 on the NSE, a premium of 78 percent over its issue price of Rs 1,125. Similarly, it marked its debut at Rs 2,001 on the BSE, a premium of 77 percent. The listing of Nykaa was pushed a day earlier to Wednesday. The company was earlier scheduled to list on Thursday. According to analysts investors should not think of making any fresh investment in the company at this point in time. "Investors should book partial profits in the company after this robust listing. One can book 50-75 percent of holdings and keep the remaining portion for a longer-term," they said. Nykaa IPO was open for subscription from October 28-November 1, 2021. The company raised Rs 5,352 crore from its primary stake sale.
The upside momentum would continue for at least a couple of days before stabilising for some time because valuation could be a concern after a big listing gain,opinied a expert.
Investors are advised to hold this stock for the long term because it is one of the few stocks in new-age companies to own into your portfolio, he added. "It is difficult to buy after a big gain at opening. However, fresh investors can accumulate in parts"
Nykaa is India’s biggest online marketplace for beauty, personal care and fashion brands. The company delivered 17.1 million orders in FY21 and operates 80 offline stores in 40 cities across India.
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