Nykaa IPO
Nykaa IPO — date, price band, lot size & details 2021
Nykaa listed on 10 Nov 2021 at ₹2,018, 79.4% above the ₹1,125 issue price.
Nykaa, run by FSN E-Commerce Ventures, is a consumer technology platform selling beauty, personal care and fashion products, including its own brands. Its total income was Rs 2,452.64 crore in FY2021.
Stock price
Nykaa is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 10 November.
- Open 28 Oct 2021
- Close 01 Nov 2021
- Allotment 08 Nov 2021
- Refund/credit 09 Nov 2021
- Listing 10 Nov 2021
Issue summary
The terms of the offer, as filed.
| IPO Dates | 28 Oct to 1 Nov, 2021 |
|---|---|
| Price Band | ₹1085 – ₹1125 |
| Face Value | ₹1 |
| Lot Size | 12 Shares |
| Issue Size | ₹5349.72 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Employee Discount | Rs 100.00 per share |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 13,500 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 12 shares at the ₹1125 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 12 | ₹13,500 |
| Retail (max) | 14 | 168 | ₹1,89,000 |
| S-HNI (min) | 15 | 180 | ₹2,02,500 |
| S-HNI (max) | 74 | 888 | ₹9,99,000 |
| B-HNI (min) | 75 | 900 | ₹10,12,500 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 1,116.38 crore in FY2019 to Rs 2,452.64 crore in FY2021.
- 02The company moved from a loss of Rs 16.34 crore in FY2020 to a profit of Rs 61.95 crore in FY2021.
- 03EBITDA rose from Rs 20.51 crore in FY2019 to Rs 161.43 crore in FY2021.
- 04It offered 197,195 beauty and personal care SKUs from 2,476 brands on 31 March 2021.
- 05Net worth grew from Rs 230.56 crore on 31 March 2019 to Rs 698.89 crore on 30 June 2021.
Risks · 5
- 01The pre-issue P/E was 845.86 at the upper band of Rs 1,125, based on EPS of Rs 1.33.
- 02Rs 4,719.72 crore of the Rs 5,349.72 crore issue was offer for sale, so most of the money went to selling shareholders.
- 03Profit was only Rs 3.52 crore in the three months to 30 June 2021, on total income of Rs 821.71 crore.
- 04The beauty business is inventory-led, so stock levels and discounts can squeeze margins. Total borrowing was Rs 268.13 crore on 30 June 2021.
- 05Promoters and the promoter group held 54.22% before the issue and 52.56% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Nykaa offer document.
| Metric | 30 Jun 2021 | 31 Mar 2021 | 31 Mar 2020 | 31 Mar 2019 |
|---|---|---|---|---|
| Assets | 1,631.48 | 1,301.99 | 1,124.48 | 775.66 |
| Total Income | 821.71 | 2,452.64 | 1,777.85 | 1,116.38 |
| Profit After Tax | 3.52 | 61.95 | -16.34 | -24.54 |
| EBITDA | 26.94 | 161.43 | 81.06 | 20.51 |
| NET Worth | 698.89 | 489.94 | 322.15 | 230.56 |
| Reserves and Surplus | 683.42 | 474.88 | 307.60 | 216.32 |
| Total Borrowing | 268.13 | 187.47 | 267.55 | 225.64 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Nykaa RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Nykaa IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹1.33 | ₹0.30 |
| P/E Ratio (x) | 845.86 | 3,750.00 |
| Market Cap at Offer Price (₹ Cr) | ₹2,977.44 | ₹13,200.00 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹1125 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹600.95 Cr of the issue is earmarked to named objects.
About the company
In beauty and personal care it offered 197,195 SKUs from 2,476 brands on 31 March 2021, mainly through an inventory-led model. Its own brands, such as Nykaa Cosmetics, Nykaa Naturals and Kay Beauty, are made by third-party manufacturers.
Nykaa Fashion offered 1,350 brands and over 1.8 million SKUs across women, men, kids and home.
The IPO was Rs 5,349.72 crore, with Rs 630.01 crore of fresh issue and Rs 4,719.72 crore of offer for sale. Rs 234.00 crore was planned for building brand awareness and Rs 156.00 crore for repaying borrowings.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Nykaa IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
JM Financial Ltd.
74 issues handledBest listing: Tempsens Instruments (India) (+111.3%). Weakest: Turtlemint Fintech Solutions (-10.4%).
ICICI Securities
65 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
Kotak Mahindra Capital Company Limited
49 issues handledBest listing: G R Infraprojects (+105.0%). Weakest: Rategain Travel Technologies (-15.3%).
Bofa Securities India Limited
14 issues handledBest listing: Moneyview (+61.8%). Weakest: The Leela Hotels (-6.7%).
Morgan Stanley India Co. Pvt. Ltd
7 issues handledBest listing: Urban Company (+57.5%). Weakest: Paytm (-9.3%).
Citigroup Global Markets India Pvt. Ltd
13 issues handledBest listing: Zomato (+52.6%). Weakest: Kalyan Jewellers India (-15.0%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Nykaa?
The current Grey Market Premium is ₹700, or 62% over the issue price.
What is the Nykaa IPO price band?
₹1085 to ₹1125, on a face value of ₹1.
When is the allotment?
The basis of allotment is 8 November 2021, with listing on 10 November 2021.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
