Lady Luck at 50! Ms Nayar-Nykaa Founder India’s First Self Made Female Billionaire
- Founder Nykaa, Falguni Nayar ranks seventh in Indias richest female entrepreneurs.
- Nykaa clocked 1 trillion rupees at the market today.
- Ms Nayar is the first self made femal billionaire of the nation.
New Delhi: Falguni Nayar, founder Nykaa has emerged as the first female self-made billionaire and has joined the Indian woman billionaire club as the seventh richest lady.
A debutant from the Dalal street,FSN floating Nykaa’s parent company stocked a rise moments after the markets opened on Wednesday amidst the ongoing initial public offering (IPO). Nykaa shares were being listed at ₹2,018 with around 80 per cent premium today sources reported. Within an hour and a half, Nykaa’s market cap had already matched industry giants such as Britannia, Godrej, and IndiGo after its overall valuation clocked 1 trillion rupees ($13.5 billion) in the first five minutes of trade.
Ms Nayar, the major shareholder of the firm now owns a whooping $6.5 billion as shares of the firm surged as much as 89% when they started trading Wednesday. Nayar, is a former investment banker who established Nykaa in 2012, days after turning 50 years old. The startup turned tables around as it masked the trial and review issues women of the country faced purchasing beauty brands from pop up stores. With demo videos by glamorous Bollywood actors and celebrities and more than 70 brick-and-mortar stores the brand soon emerged as youth favourite in no time.
Selling beauty products ranging from essentials to bridals and semi medic applications, Nykaa surged 35% to $330 million in the year end this March.Nayar owns her company shares through two family trusts and seven other promoter entities. Her Ivy League-educated daughter and son, run different Nykaa units, are among the seven promoters. Heading a team of 1600 Nayar has built a luxurious lifestyle and retail empire in just eight years of startship.