Nykaa IPO: Founder Falguni Nayar becomes India's wealthiest self-made female billionaire

With the rollout of her company’s fresh Initial Public Offering, Nykaa founder Falguni Nayar on Wednesday became India's wealthiest self-made female billionaire. Following the e-commerce giant making a stellar debut at the Bombay stock exchange, Nayar became India's seventh woman billionaire. Moments after the markets opened on Wednesday, Nykaa shares, which are listed on the market today were being traded at Rs 2,018. The listing happened at around 80 per cent premium.

With Nykaa IPO, FSN E-Commerce Ventures, Nykaa's parent entity, became the first woman-led unicorn to hit the Indian stock exchange. The company raised over Rs 53.5 billion with the listing, making the company’s market cap jump marginally. Nykaa's market cap on Wednesday morning already matched industry giants such as Britannia, Godrej, and IndiGo.

Falguni Nayar’s journey to becoming a billionaire 

Falguni Nayar founded Nykaa in 2012. She was 49 at the time. Nayar brought out a tech savvy app to order makeup and hair-care products during a time when women visited stores for the same. The startup since grew to become the country's leading beauty retailer. Nykaa went on to become a top company endorsed by celebrities. Nayar, who had previously led an investment bank, became the lifeline the company. 

Nykaa also opened their own line of beauty products as well as selling products of other companies on their platform. Nykaa currently sells items ranging from exfoliation creams, bridal make-up essentials and to lipstick and nail colours. According to the prospectus filed by the company in March, Nykaa sales surged 35% to USD 330 million in the previous fiscal year. Nykaa is currently the leading unicorn in the market and keeps growing with potential.

Nayar owns her company stake through two family trusts and seven other promoter entities, which has now put her among the wealthiest in the country. Nayar’s daughter and son are also promoters of the company and is involved in running different units.

About Nykaa

Incorporated in 2012 by Falguni Nayar, FSN E-Commerce Ventures Ltd is an e-commerce firm that owns Nykaa. The Mumbai-based company trades beauty and wellness and fashion products. It also has more than 75 offline stores. As of 2020, the online store retails over 2,000 brands and two lakh products across its platforms.

Image: Facebook