As Nykaa entered into the stock market on Wednesday, founder Falguni Nayar turned India’s richest self-made female billionaire. The net worth of the 58-year-old entrepreneur surged 89% soon after the debut taking her wealth to $6.5 billion.
The Nykaa IPO started with a share worth Rs2001 on the Bombay Stock Exchange and saw an increase of 77.87% later. The issue price at NSE was Rs 2018 that went up with a 79.83% increase in a day. This raised $722 million for the Nykaa’s owner in the first few hours.
Here Is What Nykaa Founder Falguni Nayar Said Before NSE Debut
The former Managing director of Kotak Mahindra Bank, Nayar, is now on top of the world. Just before her company made its stock market debut, she said “I started Nykaa at the age of 50 with no experience.”
Nykaa’s journey is a journey of an Indian-born, it is a dream managed by an Indian, owned by an Indian that aspires to inspire every Indian. The foundation of this dream was established in 2012 when Nayar was in her 40s. She was working in a top leading investment bank in India as a managing director but quit her job to follow her dream.
Her love for beauty and makeup products made her step into the business world with a startup called Nykaa. The word is derived from a Sanskrit word that means ‘heroine‘.
It is an e-commerce website where customers from all over the world can find beauty and wellness products that suit their skin tones. It also sells products from leading makeup brands such as L’Oreal Paris, Lakme, Maybelline, and more. The company has set up around 70 plus stores across the country and also deals in haircare, skincare, and intimate wear line products.
Over the years, the startup has earned greater heights and has investors from Bollywood as well. It is just a beginning, there’s a long way to go for Nykaa. Its parent company, FSN E-Commerce Ventures saw huge bids from IPO where it shared reached the value of Rs 5352 crore. It is the first unicorn led by a woman to make a stock market debut.