Indian Indices Trade Lower; Nykaa's Marketcap Tops 1 Lakh Crore Post Blockbuster Debut

Wed, 10 Nov 12:30 pm

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Share markets in India are presently trading on a negative note.

Benchmark indices continue to trade in the negative territory tracking weak global cues amid inflation worries.

Concerns over inflation intensified globally, with Brent crude prices hitting the US$85 a barrel mark and China factory inflation surging to a 26-year high.

Moreover, foreign outflows are also a concern.

The BSE Sensex is trading down by 281 points, down 0.5%, at 60,150 levels.

Meanwhile, the NSE Nifty is trading down by 85 points.

M&M is among the top gainers today. IndusInd Bank and Tata Steel are among the top losers today.

The BSE Mid Cap index is trading down by 0.5%.

The BSE Small Cap index is trading up by 0.2%.

On the sectoral front, stocks from the metal sector and banking secsttor are witnessing selling pressure.

Auto stocks, on the other hand are trading in green.

The rupee is trading at 74.13 against the US$.

Gold prices are trading down by 0.2% at Rs 48,184 per 10 grams.

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Nykaa Makes Outstanding Debut on the Bourses Today

FSN Ecommerce Ventures, the parent of e-commerce beauty giant, Nykaa and India's first unicorn start-up headed by a Falguni Nayar, saw a blockbuster debut on Dalal Street today, more than a week after its initial public offering (IPO) concluded.

The stock started trading at a premium of over 82% at Rs 2,054 per share on the NSE as compared to its IPO issue price of Rs 1,125 apiece.

Meanwhile, Nykaa shares listed at Rs 2,063 on the BSE, with the market capitalization crossing Rs 1 tn.

According to reports, Nykaa's market cap has already matched industry giants such as Britannia, Godrej, and IndiGo.

A day before listing, the counter was commanding a strong premium of Rs 800 per share in the grey market, which signalled a blockbuster listing for the new-age start-up on the bourses.

Nykaa's IPO witnessed huge demand from qualified institutional buyers (QIB) as the portion reserved for them was subscribed 91.18 times. Among the QIBs, foreign institutional investors (FIIs) placed bids for over 740 m shares and domestic financial institutions placed bids for over 300 m shares.

Fund utilization

Nykaa will allocate Rs 420 m from the issue to investment in its arms FSN Brands or Nykaa Fashions for funding the establishment of new retail stores.

Another Rs 420 m will be used for capital expenditure to be incurred by the company and investment in certain subsidiaries.

The company will also use Rs 1.6 bn for the repayment of debt. Nykaa will also use Rs 2.3 bn to enhance the visibility and awareness of its brands.

Nykaa's online and offline presence

Nykaa is a significant player in the online beauty aggregator industry and also among a few profitable e-tailers in India.

One of Nykaa's main benefits is that it offers clients an omnichannel shopping experience.

Customers can either order online through the mobile app, website or visit the company's offline stores located in approximately 38 cities.

The availability of major products and brands on Nykaa's platform is another reason for its rapidly growing popularity.

Nykaa's offline channel comprises of 73 physical stores across 38 cities in India over three different store formats as of 31 March 2021. The company's physical stores offer a select offering of products.

As of August 2021, it offered approximately 3.1 million SKUs (stock-keeping units) from 4,078 national and international brands across business verticals.

In the financial year 2021, its total gross merchandising value (GMV) was at Rs 40.5 bn, which grew 50.7% from the last year.

The company is one of the leading influential lifestyle platforms in India with over 12.6 million followers across leading social media platforms as of March 2021.

Also, Nykaa does not have any listed industry peers in India.

About Nykaa

Launched in 2012, Nykaa grew popular by selling cosmetics and grooming products on its website, apps and through its physical stores, before expanding into fashion, pet care and household supplies. Its investors include film actresses Alia Bhatt and Katrina Kaif.

The company has a diverse portfolio of beauty, personal care, and fashion products, including their own brand products manufactured by them. It operates under 2 major verticals - Nykaa: Beauty & Personal Care and Nykaa Fashion: Apparel & Accessories.

The Nykaa marketplace competes with companies such as Myntra, Purplle, Flipkart, and Amazon.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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