Falguni Nayar, the Chief Executive Officer of Nykaa, has entered the list of India's richest after the beauty and fashion retailer's blockbuster debut on bourses. According to Bloomberg Billionaires' Index, she became India's wealthiest self-made businesswoman.

Share Market Live

NSE

Her net worth surged to Rs 56,600 crore Wednesday after the shares of FSN E-Commerce, Nykaa's parent entity, were listed with a premium of over 80 percent over the issue price. At the top limit of the price range, the company was valued at Rs 5,352 crore.

Nykaa shares extended gains to the tune of 79 percent, listing at Rs 2,018 on the National Stock Exchange. The company is India's first woman-led unicorn to hit the exchanges.

The company's market cap promptly surged to Rs 1 lakh crore, surpassing the likes of Bharat Petroleum, Godrej Consumer, InterGlobe Aviation, Britannia, and Dr Reddy's.

In an interview with CNBC-TV18, she said this kind of listing puts a lot of responsibility on us to continue the growth momentum we have enjoyed so far. Nayar said investors want us to deliver a high pace of growth without too much capital dilution and we will continue to do that by acquiring more customers with financial discipline.

With this, Nayar has also become the wealthiest woman promoter in the country after Savitri Jindal of OP Jindal group companies.

Nayar, who owns half of Nykaa, was formerly an investment banker at AF Ferguson & Co. She has also worked at Kotak Mahindra Bank as the Managing Director of Kotak Mahindra Investment Bank and Director at Kotak Securities.

In 2012, she launched Nykaa months after hitting 50. Since then, the company has grown into India's leading beauty platform, the only online platform that makes a profit, a rarity for an internet startup. It boasts over 1,500 brands including luxury labels like Bobbi Brown and Estee Lauder. It has opened over 68 offline stores. The company has posted revenues to the tune of Rs 1,860 crore in FY20.

Nayar owns her stake via two family trusts and seven promoter entities. She was one of Asia's Power Businesswomen 2019, according to Forbes Asia. She has awards like Business Person of the Year 2019 (Vogue India) EY Entrepreneur of the Year 2019 (Ernst & Young).

At 11 am, Nykaa shares underwent some profit booking, slumping 4 percent to trade at Rs 2,110 on the Bombay Stock Exchange. The stock was up over 5 percent from its issue price of Rs 2,001.

First Published:Nov 11, 2021 1:35 PM IST