Nykaa makes outstanding debut, market cap breaches 1 lakh crore
Moments after the markets opened on Wednesday, the Nykaa market cap hit the ₹1 lakh crore-mark, and shares were being listed at ₹2,018 with around 80 per cent premium.
Nykaa, e-commerce giant and India's first unicorn startup headed by a woman, saw a blockbuster debut on Dalal Street today, more than a week after its initial public offering (IPO) concluded. Moments after the markets opened on Wednesday, the Nykaa market cap hit the ₹1 lakh crore-mark, and shares were being listed at ₹2,018 with around 80 per cent premium. According to reports, Nykaa's market cap has already matched industry giants such as Britannia, Godrej, and IndiGo.
Although financial stocks weakened on this morning as the markets saw a slow start, investors remain focused on fashion e-commerce startup Nykaa's market debut.
As Nykaa shares are being listed today, here are the steps to check the status of allotment on the website of the Bombay Stock Exchange (BSE):
How to check Nykaa allotment status via BSE?
1 . Visit the BSE India website and click on the relevant link to check the status of issue application here.
2 . Log-in to the website using credentials such as application number and PAN number.
3 . Select whether the issue type is equity or debt.
4 . Check the captcha verification to verify to the system that you're not a bot.
5 . Click on the ‘search’ button to check allotment status.
How does one ride the IPO craze?
The mainstreaming of digital adoption has made new-age unicorns household names, but the excitement is highest for Nykaa since it is one of the “rare unicorns” which is profitable and has a strong brand recall. According to experts, Nykaa has attracted a lot of interest and it is expected to garner listing gains of 60-70 per cent, some are also speculating gains to go up by 100 per cent. However, retail investors are likely to keep their allotment to a minimum due to the huge oversubscription.
Nykaa, in the meanwhile, has said that it will use the IPO proceeds to set up new retail stores, fund capital spending, and repay debts.