Mumbai: Malayali entrepreneur Falguni Nayar became India’s seventh woman billionaire and the wealthiest self-made woman on Wednesday as the beauty start-up Nykaa’s market capitalization crossed Rs 1 lakh crore.
Falguni Nayar was the Managing Director of Kotak Mahindra Capital Company in the past. She is currently on board of Aviva Insurance, Dabur India and an independent member on the Tata Motors Board. Falguni Nayar, Sanjay Nayar, Falguni Nayar Family Trust and Sanjay Nayar Family Trust are the promoters of the company.
FSN E-Commerce Ventures the company that owns the Nykaa brand has listed in the Indian equity market for trading on Wednesday. It opened for trading at Rs 2,018 on the National Stock Exchange (NSE) up 79% from its issue price of Rs 1,125 per share. On the Bombay Stock Exchange (BSE) Nykaa shares opened for trading at Rs 2,001, up 78% from the issue price.
Also Read: Market Capitalization of beauty start-up Nykaa crosses Rs 1 lakh crore
‘I started Nykaa at 50 with no experience. I hope the Nykaa journey can inspire each of you to be the Nykaa (heroine) of your lives’, she said.
Nykaa was launched by Falguni in 2012. It sells cosmetics and grooming products on its website, apps and through its physical stores. Later the group expanded itself to fashion, pet care and household supplies. Its investors include film actors Alia Bhatt and Katrina Kaif.
Post Your Comments