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Thursday, March 30, 2023

Meet Nykaa Founder Falguni Nayar,a self-made billionaire who started at 50 with no experience in Beauty Industry

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Nykaa founder Falguni Nayar has grown to be India’s wealthiest self made female billionaire. Nayar who owns about 50 % of Nykaa is currently worth 6.6 billion dollars as shares of the company surged about 89 for per cent whenever they began trading on Wednesday.

This will come on exactly the same working day Nykaa opened with investment of Rs 2,001 to the Bombay Stock Exchange (BSE), up 78% from their concern price of Rs 1,125 for each share. In the meantime, the shares of the  e-commerce beauty giant around the National Stock Exchange (NSE) is opened for investing at Rs 2,018, up 79 percent from the issue price.

The market cap with the beauty and fashion retailer hits an overall valuation of 1 trillion rupees in the very first five minutes of trade.

As the organization’s shares shot up within the start of five minutes of trade, Nayar stated: “I hope the Nykaa journey – an Indian-origin, Indian-owned and Indian-managed aspiration-arrive-true – can inspire every single of you.”

Nayar along with her spouse and twin children possess 50% of the Nykaa shares whilst the organization has elevated its revenue by 35% to $330 million this year, As outlined by Bloomberg. Her son and daughter take care of diverse units of the corporation.

Besides her, the stock’s debut catapulted its promoters — the Nayar family — as amongst India’s richest self designed billionaire.

The FSN E-Commerce Ventures, Nykaa’s parent entity is India’s first women led unicorn to hit the stock exchange.

At the moment, the promoter family holds all-around 53% stake in FSN E-Commerce Ventures, which owns Nykaa.

The stake in the opening price of Rs 2,001 per share was value over $6.5 billion. The promoter family members has stakes of Falguni Nayar and her little ones Anchit Nayar, Adwaita Nayar, and also the Nayar Trust.

Falguni Nayar is the Founder, Executive Chairperson, Managing Director and Chief Executive Officer of FSN E-Commerce Ventures, which owns Nykaa. She has an experience of 26 years in e-commerce, investment banking and broking.

Before founding Nykaa, she was linked to Kotak Mahindra Capital Company for 18 years, in which she served as the managing Director.

She has also served over the boards of various companies, such as Tata Motors and Aviva Life Insurance Company India.

Presently, she serves as an independant director for boards of varied organizations, which includes Kotak Securities, ACC and Dabur India.

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