Fashion and Beauty startup Nykaa’s owner Falguni Nayar has become India’s wealthiest self-made female billionaire, according to the Bloomberg Billionaires Index. This was announced after her stocks skyrocketed on Wednesday.
Nykaa shares went up to new highs as it debuted on Dalal Street on Wednesday, November 10 with shares opening at rates of Rs 2,001 on BSE. The shares saw a rise of 77.87% over the upper end of the issue price. On the other hand, in NSE, the shares debuted with Rs 2,018 with a rise of 79.83%. Similarly, at the FSN E-Commerce, Nykaa’s parent company also became India’s first woman-led company to debut stocks at such high rates.
According to the Bloomberg Billionaires Index, that the market cap of Nykaa hit Rs 1 trillion that is almost $13.5 billion within the first 5 minutes of the trade and within half an hour the share prices reached highs that matched with shares of giant brands like Godrej, Britannia, IndiGo.
The NSE Bell has been rung in celebration of the FSN E-Commerce Ventures Limited (@MyNykaa) listing on the Exchange! #NSE #Listing #NYKAA pic.twitter.com/fkHWkrUDcIAdvertisement
— NSEIndia (@NSEIndia) November 10, 2021
Falguni Nayar used to lead a top Indian investment bank and then she founded Nykaa in 2012. The platform offers more than 4,000 self-care and beauty products to a massive audience of women through its website, app and 80 shops around the country.
She said in the success event at NSE that she started Nykaa when she was 50 and she hopes that she can inspire more women to start their business even if they feel that the age has passed. Nayar owns more than half of Nykaa’s shares has reached the value of $6.5 billion and has risen to 89% according to the report.
Nayar is an IIM Ahmedabad graduate, she started her career in consulting at A.F.Ferguson & Co. She then went on working at Kotak Mahindra Bank handling its different investments. She was the Managing Director of Mahindra Investment Bank and Kotak Securities.
Nykaa that means Actress in Sanskrit became immensely popular among young women who liked to shop from a wide variety of brands. When asked to people about Nykaa, one of them said that she loves the variety the platform has including global brands.
Over the years Nykaa gained massive popularity with celebrity endorsements like Katrina Kaif and other top Bollywood actors promoting it on their social media.
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