Falguni nayar becomes the 17th richest person in India after Nykaa's blockbuster listing

By: WE Staff | Thursday, 11 November 2021

Falguni Nayar, who started Nykaa at the age of 50 in April 2012, became one of India's 20 wealthiest persons on Wednesday after Nykaa's parent company, FSN E-commerce Ventures, made a blockbuster debut on the stock exchanges.

Nayar was valued roughly Rs 55,572 crore ($7.48 billion) as of 3.10 p.m. on Wednesday, when FSN's stock was trading at Rs 2,206 a share, making her only the second Indian self-made woman billionaire after Biocon founder Kiran Mazumdar-Shaw. Through two promoter trusts and seven additional promoter organisations, she owns 53.5 percent of the corporation.

According to the Bloomberg Billionaires Index, she is the 17th richest person in India, ahead of Ashwin Dani, non-executive chairman of Asian Paints Ltd ($7.05 billion), and behind Nusli Wadia, chairman of the Wadia Group ($8.4 billion).

Nykaa, on the other hand, had a market capitalization of around Rs 1.03 lakh crore ($13.99 billion) on Wednesday afternoon, making it India's 51st largest firm, according to statistics from Companymarketcap.com.

Coal India ($13.89 billion), Godrej ($13.64 billion), Hindalco Industries ($13.60 billion), and Bharat Petroleum ($12.70 billion) were all ahead of the online cosmetics shop. With a market cap of $14.58 billion, Zomato, the first Indian business to go public, was four places higher at 47.

“I started Nykaa at the age of 50 with no experience. I hope the Nykaa journey can inspire each of you to be the Nykaa (heroine) of your lives,” the Mumbai-born Nayar said before ringing the opening bell at the National Stock Exchange on Wednesday.

Nayar, a nearly 20-year investment banker, founded Nykaa in 2012, just months before her 50th birthday. The company has subsequently expanded to become the country's biggest beauty etailer, with its initial public offering (IPO) before Diwali being approximately 82 times subscribed. TVS Capital and Steadview Capital are among the company's investors, as are stars Katrina Kaif and Alia Bhatt, who own a minority share. Nayar owns a majority share in her company through two family trusts and various promoter organisations, which include her children.