The unlisted shares of Nykaa's parent company FSN E-Commerce Ventures are trading at ₹1,775-1,805 apiece, a premium of up to 60%, in the grey market, according to reports. Nykaa has fixed the price band at ₹1,085-1,125 per share for its initial public offering (IPO) and is likely to raise ₹5,352 crore. The IPO will open for subscription on October 28.