Shares of Nykaa made a strong market debut on the Indian stock exchanges on Wednesday. The stock started trading at a premium of over 82% at ₹2,054 per share on the NSE as compared to its IPO issue price of ₹1,125 apiece. Millions of investors had tried their luck to get Nykaa’s IPO and a few succeeded.
A man from Mumbai, Ashwin, got 200 shares of Nykaa at the price of Rs 2200 per share. To ensure that the stock hits the upper circuit Ashwin not only ordered makeup worth Rs 25,000 from the Nykaa but also did makeup and posted pictures on his Instagram account.
Speaking to The Fauxy, Ashwin said “Now I’ll do makeup and promote gender equality in this industry too. I will post pictures of my make-up on my social media accounts to encourage more people to buy make-up products and boost this sector which has a big potential for investors.
Reportedly, in just two hours of Nykaa’s IPO listing, Nykaa witnessed over 100% increase in orders and reportedly, upto 70% of these orders were from men’s credit cards.