News > Nykaa IPO heavily oversubscribed by anchor investors

Nykaa IPO heavily oversubscribed by anchor investors

Economic Times | 28/10/2021 09:01 AM | Click to read full article

Indian cosmetics to fashion startup Nykaa received bids for 40 times the number of shares it plans to sell to anchor investors in its initial public offering (IPO), indicating strong interest in the sale.

Investment firm Blackrock Capital Group and asset manager Fidelity were among the top buyers in the $319.68 million sale of shares that FSN E-Commerce Ventures, the company which owns the Nykaa brand, offered to institutional investors.