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FSN E-Commerce Ventures Ltd, which runs online marketplace for beauty and wellness products Nykaa, on Wednesday said it has raised Rs 2,396 crore from anchor investors ahead of its initial share-sale, which opens for public subscription on Thursday. The company has decided to allocate a total of 21,296,397 equity shares to anchor investors at Rs 1,125 a share,
The company has decided to allocate a total of 21,296,397 equity shares to anchor investors at Rs 1,125 a share, aggregating to Rs 2,395.84 crore.
According to the draft papers, the company plans to use the proceeds from the IPO for expansion, by setting up new retail stores and establishing new warehouses.
The offer comprises of a fresh issue of equity shares aggregating up to Rs 630 crore and an offer for sale of up to 41,972,660 shares by the existing shareholders.
Nykaa IPO to open on October 28, to raise Rs 630 cr via fresh equity; check here for details