Nykaa IPO: Brokerages recommend subscribing, but cite valuation concern

The much-awaited IPO of FSN E-Commerce Ventures, which owns online e-tailer Nykaa, will open for subscription on Thursday in a price band of Rs 1,085 – Rs 1,125. While most analysts recommend subscribing to the issue from a long-term perspective, they do caution against the valuation and online segment that the company operates in.

Here’s what leading brokerages said.

Motilal Oswal Securities | Subscribe

We like Nykaa given its leadership position in the online BPC market, customer centric approach, profitable tech platform and capital efficient business model.