MUMBAI: FSN E-Commerce Ventures Ltd, which runs Nykaa, the online marketplace for beauty and wellness products,  made a dazzling debut on the bourses with a listing at Rs 2,001 on the Bombay Stock Exchange (BSE) which is a huge premium over the initial public offering (IOP) price of Rs 1,125.

The debut price of Rs 2,001 on BSE reflected a jump of 77.86 per cent to the IPO issue price after which it zoomed by 99.83 per cent to touch Rs 2,248.10 during the day with heavy volumes. The stock finally closed at Rs 2,206.70, shooting up by 96.15 per cent. 

On the NSE, it had listed at Rs 2,018, a premium of 79.37 per cent. It later closed at Rs 2,208, recording a gain of 96.26 per cent. 

The e-commerce company whose IPO of Rs 5,352-crore with a price range of Rs 1,085-1,125 per share had been subscribed a whopping 82 times has also joined the elite group that commands a market capitalisation of above Rs 1 lakh crore on the bourses.

Nykaa is promoted by its CEO Falguni Nayar, who is a former investment banker and it is estimated that her stake in the company (which is close to half its equity) is worth about $6.5 billion according to Bloomberg Billionaires Index she also becomes India's wealthiest self-made female billionaire.

Founded in 2012, the company currently operates two business verticals, Nykaa and Nykaa Fashion and reported sales of Rs 2,441 crore in FY21 and a net profit of Rs 62 crore. 

The company has said that it proposes to utilise the money from the IPO to set up retail stores and warehouses and also plans to repay debt and use the funds for marketing and promotions.