New Delhi: Nykaa founder Falguni Nayar has now become India's wealthiest self-made female billionaire as the shares of the unicorn made a dream debut at Indian bourses on Wednesday.
Nykaa shares make dream debut tody by listing at over 79 percent premium. Nykaa, listed with a huge premium of over 79 per cent against the issue price of Rs 1,125 on Wednesday.
The stock debuted at Rs 2,001, reflecting a jump of 77.86 per cent on the BSE. It then zoomed 89.24 per cent to Rs 2,129. On NSE, it listed at Rs 2,018, a premium of 79.37 per cent. The company's market valuation remained at Rs 97,754.06 crore on BSE. The initial share-sale of FSN E-Commerce Ventures was subscribed 81.78 times earlier this month. The Rs 5,352-crore IPO had a price range of Rs 1,085-1,125 per share.
Led by Nykaa's stellar performance, Nayar’s net worth rose to new heights, that catapulted her among one of the world’s wealthiest self made woman billionaire. Nayar is among the only six other women billionaires in India Bloomberg Billionaires Index.
The company has a diverse portfolio of beauty, personnel care and fashion products, including its owned manufactured brand products, under its two business verticals -- Nykaa and Nykaa Fashion. As per a Bloomberg news agency report, the market cap Naykaa hit an overall valuation of Rs 1 trillion ($13.5 billion) within just first five minutes of its opening trade.
Nykaa was founded in 2011 by Falguni Nayar. Since its inception, the startup has become one of the fastest-growing omnichannel marketplaces in the country. The company majorly sells women cosmetics on the platform. The company is now finally going public via its IPO.
