Falguni Nayar’s net worth tops $6.5 billion after Nykaa’s blockbuster listing

Shares of FSN E-commerce Ventures Ltd., the guardian entity of Nykaa
rose as much as 89% over its IPO price on Wednesday, ascribing India’s greatest cosmetics etailer a market cap of practically $13 billion. Nayar, who together with household trusts owns greater than half of the corporate, now has a internet price of about $6.5 billion. Savitri Jindal, who controls the OP Jindal Group conglomerate based by her late husband, is the nation’s wealthiest lady. Her fortune is valued at $12.9 billion, in accordance with the Bloomberg Billionaires Index.

“I began Nykaa on the age of fifty with no expertise. I hope the Nykaa journey can encourage every of you to be the Nykaa (heroine) of your lives,” the Mumbai-born Nayar mentioned earlier than ringing the opening bell on the Nationwide Inventory Trade on Wednesday.

An funding banker for practically 20 years, Nayar began Nykaa in 2012 months earlier than her fiftieth birthday. The startup has since grown into the nation’s main magnificence etailer, a lot in order that its preliminary public providing (IPO) earlier than Diwali
was subscribed nearly 82 times. The agency counts TVS Capital and Steadview Capital amongst its traders moreover actors like Katrina Kaif and Alia Bhatt who personal a minority stake within the firm. Nayar owns her firm’s stake by two household trusts and different promoter entities together with her youngsters.

Nykaa’s IPO is likely one of the many shopper Web firms making its debut this yr amid a hovering inventory market. Zomato Ltd.
started the trend in July and Paytm’s guardian One97 Communications
is continuing it with India’s biggest IPO on record.

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