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The initial public offerings of two companies are set to open for
subscription in the last week of September.
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 be able to
subscribe to the IPO till November 1. The IPO comprises a fresh issue of equity
shares worth Rs 630 crore and an offer for sale (OFS) of 41,972,660 equity
shares by promoter and existing shareholders.
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
for sale of 15,602,999 equity shares by promoter Fino Paytech.It may be noted
that Fino Payments Bank is a scheduled commercial bank that is dedicated
towards serving the emerging Indian market with its digital financial 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 boost the bank’s tier-1 capital base to meet future capital
requirements. The tentative listing date on exchanges in November 12.
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