Nykaa founder and CEO Falguni Nayar became India’s 7th woman billionaire and the wealthiest self-made billionaire on November 10, 2021. As per the Bloomberg Billionaires Index, the net worth of Falguni Nayar reached $6.5 billion when Nykaa’s parent entity FSN E-Commerce Ventures got listed at Rs 2,018 on the National Stock Exchange (NSE) and Rs 2,001 on the Bombay Stock Exchange (BSE) during an ongoing Initial Public Offering (IPO). The market cap of Nykaa hit 1 trillion rupees ($13.5 billion) in the five minutes of Nykaa IPO listing.
Who is Falguni Nayar?
58-year-old Falguni Nayar founded Nykaa in 2012 when she was 50-years-old. She owns more than half of Nykaa through two family trusts and other promoter entities. Nayar’s stake in Nykaa is valued at $7 billion.
After Nykaa’s Initial Public Offering (IPO) on the stock exchange, Nayar became India’s 7th woman billionaire and richest self-made woman billionaire. With a net worth of $6.5 billion, Nayar has joined the league of six other women billionaires in India. With this, Nykaa has also become the first woman-led unicorn startup that got listed on the stock market in India.
Prior to launching Nykaa, Nayar was an investment banker. She was working at Kotak Mahindra Group till 2012. She has worked as a consultant in the management consulting company A F Ferguson & Co.
Nykaa has grown into India’s leading beauty, makeup, and fashion e-commerce company that offers makeup and fashion products from over 300 domestic and international brands including luxury brands. Nykaa's name has derived from Sanskrit which means ‘heroine’. In addition to being India’s top beauty e-commerce retailer, Nykaa also has around 80 stores as well across 40 Indian cities.
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Nykaa IPO Listing
Nykaa’s IPO is one of the many e-commerce companies that made its debut on the National Stock Exchange (NSE). FSN E-Commerce Ventures Ltd is the parent entity of Nykaa. Nykaa IPO listing opened for subscription from October 28 to November 1, 2021. The Initial Public Offering (IPO) of shares of Nykaa’s parent company FSN E-Commerce Ventures Ltd raised Rs 53.5 billion ($722 million) from the IPO.
The shares of FSN E-Commerce opened for trading at Rs 2,018 on NSE which was 79 per cent up from its issue price of Rs 1,125 per share. On the Bombay Stock Exchange (BSE), Nykaa opened for trading at Rs 2,001 which was 78 per cent up from its issue price.
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