MUMBAI: The Rs 5,352-crore initial public offer (IPO) for FSN E-Commerce Ventures, the company that operates under the Nykaa brand name, was fully subscribed on the day it opened with the retail portion sold out within the first hour itself. On Wednesday, it raised Rs 2,396 crore from 174 institutional buyers (anchor investors). According to data on the BSE, the retail part of the offer was subscribed 3.5 times while the institutional portion was subscribed 1.4 times. The non-institutional part, also called the high net worth investors’ part, was subscribed 60% and the quota reserved for Nykaa’s employees was subscribed 70% of the shares on offer. The IPO, being offered in the Rs 1,085-1,125-per share price band, will close on November 1. According to merchant bankers, there was a heavy rush of investors during the anchor allocation too, which happened on Wednesday. Of the shares worth nearly Rs 2,400 crore on offer, the book was subscribed about 40 times, they said. Among the investors who were finally allotted Nykaa shares through the anchor route were global financial majors like Blackrock, Capital Group, Fidelity and Singapore government, while among the domestic majors were SBI Mutual Fund, HDFC Mutual Fund and ICICI Prudential Mutual Fund. Established in 2012, Nykaa has a diverse portfolio of beauty, personal care and fashion products including its own brand products, a report by Religare Broking noted. It operates under two verticals — Nykaa: Beauty & Personal Care, and Nykaa Fashion: Apparel & Accessories, it added. The company is one of the few profit-making e-commerce entities in India with fiscal 2021 earnings per share at Rs 1.4 which, at the upper end of the price band, gives its shares a price-to-earnings ratio of 803 times.