The initial public offerings (IPO) of two companies are set to open for subscription somewhat recently in September. The first is FSN E-Commerce Ventures Limited, which claims online lifestyle and beauty items aggregator Nykaa. It opens for subscription on October 28. The second one is Fino Payments Bank, which opens for subscription on October 29.
NYKAA IPO
Nykaa’s public issue is widely anticipated to do well when it opens for subscription three days later. Nykaa has fixed a price band of Rs 1,085-Rs 1,125 per share for its Rs 5,352 crore IPO.
Investors will want to subscribe to the IPO till November 1. The IPO comprises a fresh issue of equity shares worth Rs 630 crore and an offer available to be purchased (OFS) of 41,972,660 equity shares by the promoter and existing shareholders.
The tentative posting day on the stock exchanges after the IPO is November 11. The lead book-running managers for the issue are Kotak Mahindra Capital, Morgan Stanley India, Bofa Securities, Citigroup Global Markets India, ICICI Securities, and JM Financial. Most investors and investigators remain hopeful with regards to the Nykaa IPO as it is a leading player in the online beauty aggregator segment. It was founded by investment banker Falguni Nayar in 2012.
FINO PAYMENTS BANK IPO
The other IPO that goes live for subscription this week is Fino Payments Bank. The public issue will open for subscription on October 29 and it will close on November 2. The IPO comprises a fresh issue of equity shares worth Rs 300 crore and an offer available to be purchased of 15,602,999 equity shares by promoter Fino Paytech.
It could be noted that Fino Payments Bank is a scheduled commercial bank that is dedicated to serving the emerging Indian market with its computerized monetary services. The payments bank is backed by investors like Blackstone, Bharat Petroleum, IFC, and ICICI Group, among others.
The proceeds from the IPO will be used to support the bank’s tier-1 capital base to meet future capital requirements. The tentative posting date on exchanges is November 12.
