FSN E-Commerce Ventures Limited, owners of the popular cosmetics and fashion brand Nykaa, had tapped the capital markets with its fresh issue for Rs 630 crs and an offer for sale of 4,19,72,660 equity shares in a price band of Rs 1,085 to Rs 1,125. The issue had opened on Thursday the 28th of October and closed on Monday the 1st of November. The size of the issue at the top end of the price band was Rs 5,351.92 crs. Earlier the company completed allocation to anchor investors. The company allotted 2,12,96,397 equity shares at the top end of the price band of Rs 1,125 to 174 entities.

One third of the total allocation has been made to 21 mutual funds, through a total of 93 schemes.

The issue was subscribed 92.17 times. The QIB portion was subscribed 92.17 times, HNI portion was subscribed 112.51 times, Retail portion was subscribed 12.29 times and Employee reservation was subscribed 1.88 times. There were 35.70 lac applications. The cost of funding which has doubled in the present list of primary issuances from 6.5% to 13% is Rs 360 per share. Opportunism at its best or worst and each person trying to extract its pound of flesh.

Further with the deadline of RBI of 1st April 2022 on HNI borrowing of Rs 1 cr per individual looming large, it would be interesting to see whether the merchant banking community comes up with new alternatives for funding.

Full details of subscription category wise is given below: –

FSN E-Commerce Ventures Limited, owners of the popular cosmetics and fashion brand Nykaa, has tapped the capital markets with its fresh issue for Rs 630 crs and an offer for sale of 4,19,72,660 equity shares in a price band of Rs 1,085 to Rs 1,125. The issue has opened on Thursday the 28th of October and closes on Monday the 1st of November. The size of the issue at the top end of the price band would be Rs 5,351.92 crs. Earlier the company completed allocation to anchor investors. The company allotted 2,12,96,397 equity shares at the top end of the price band of Rs 1,125 to 174 entities.

One third of the total allocation has been made to 21 mutual funds, through a total of 93 schemes. The full details of the allotment are given below: –

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PB Fintech Limited the holding company for Policy Bazaar is tapping the capital markets with its fresh issue of Rs 3,750 crs and an offer for sale of Rs 1,933.50 crs and an offer for sale of 2,67,500 shares. The price band is Rs 940-980 and at the top end of the price band the issue would garner Rs 5,709.71 crs. The issue opens on Monday the 1st of November and closes on Wednesday the 3rd of November.

The company allotted 2,62,18,079 equity shares to 155 entities. The company within this number allotted 33.53% of the shares to 18 domestic funds comprising of 69 entities. New World Fund was allotted the highest allocation at 14,82,435 equity shares comprising of 5.65% of the anchor book.

Full details of the anchor allocation are given below: –