Home NEWSINDUSTRY NEWS Nykaa’s Falguni Nayar Becomes India’s Richest Self-Made Woman Billionaire

Nykaa’s Falguni Nayar Becomes India’s Richest Self-Made Woman Billionaire

by Professional Beauty India

Falguni Nayar, Founder, Managing Director & CEO, Nykaa, launched her beauty e-commerce chain (Nykaa) in 2012 at the age of 50 years, and prior to that, she worked with Kotak Mahindra Group. In her 19-year-old long career with Kotak Mahindra Group, she went up the corporate ladder to become the Managing Director of the company. She had set up Kotak’s securities operations in the US and the UK in addition to spearheading scores of IPOs in India. What’s more, she has now become the richest self-made woman in India after the stellar debut of cosmetics and fashion retailer Nykaa’s parent FSN E-Commerce Ventures.
The listing price of Rs 2,018, which is a whopping 79 per cent premium to the issue price of Rs 1,125, gives the company a valuation of USD 13 billion. She became a billionaire in a pre-IPO private placement in June that valued Nykaa at USD 2.3 billion, giving her a net worth of USD 1.1 billion. The listing boost has made her the richest self-made woman in India, a title held until now by biotech entrepreneur Kiran Mazumdar Shaw whose current net worth is USD 3.6 billion.
The Nykaa IPO, which opened on October 28 and closed on November 1, was over-subscribed 82 times with the portion for qualified institutional buyers subscribed at 92.3 times; non-institutional investors at 110 times; the retail portion at 10.3 times and the employees’ segment at nearly 1.9 times. The Mumbai Company had set a price band of between Rs 1,085 and 1,125 rupees per share.

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