Nykaa Founder Becomes India’s Wealthiest
Nykaa creator Falguni Nayar became India’s wealthiest self-made female billionaire on Wednesday, thanks to the launch of her company’s new Initial Public Offering. Nayar became India’s seventh woman billionaire after the e-commerce behemoth debuted on the Bombay stock market with a bang. Nykaa shares, which are listed on the stock exchange today, were trading at Rs 2,018 just after the markets started on Wednesday. The IPO took place at a premium of roughly 80%.
The Mumbai-based firm deals in cosmetics, skincare, and fashion. There are also over 75 physical locations. The online store will have over 2,000 brands and two lakh products on its platforms by 2020.
Nykaa’s parent company, FSN E-Commerce Ventures, became the first woman-led unicorn to list on the Indian stock exchange with its initial public offering. With the listing, the company raised over Rs 53.5 billion, increasing its market capitalization by a small amount. On Wednesday morning, Nykaa’s market capitalization surpassed industry titans Britannia, Godrej, and IndiGo.
Self-Made Female Billionaire
Moreover At the time, she was 49. During a time when women went to stores to buy makeup and hair care goods, Nayar introduced a tech-savvy app. Since then, the company has grown to become the largest beauty retailer in the country. Nykaa grew into a well-known brand with celebrity endorsements. Nayar, a former investment banker, became the company’s lifeblood.
Nykaa also has its cosmetic brand and sells goods from other firms on its platform. Nykaa presently sells exfoliating creams, bridal make-up basics, lipstick and nail colours, among other things. Nykaa’s revenues increased by 35% to USD 330 million in the previous fiscal year, according to a prospectus filed in March by the firm. Nykaa is already the market’s most valuable unicorn, and it’s only getting started.