New Delhi: Following Nykaa’s Initial Public Offering (IPO), Falguni Nayar, the founder of the beauty e-commerce brand, became India’s seventh woman billionaire. With her net valuation soaring to $6.5 billion, as reported by the Bloomberg Billionaires Index, Nayar hogged the position of the wealthiest female self-made billionaire in India on Wednesday.
Nykaa made a strong debut on the stock markets during its IPO with the website recording subscriptions 82 times more than what it offered. The company raised Rs 2,396 from anchor investors.
The parent company, FSN E-Commerce Ventures, has become the first woman-led unicorn to be listed on the stock exchange in India. The company entered the unicorn club this year in August.
Nykaa, the Sanskrit word for heroine, was established in 2012 by Nayar. The company is headquartered in Mumbai and was started as an online retail portal for fashion and beauty products. Currently, the company owns 76 offline stores besides the online retail website. Nayar has her stakes in the company through two family trusts and seven other promoter entities.
The company offers a variety of products ranging from various shades of lipstick to nail colour and foundation suitable for Indian skin tone, type and local weather.
Falguni Nayar is the seventh member to enter the club of Indian woman billionaires. According to the Forbes, six other women billionaire of India are - Savitri Jindal with net worth of $18 billion, Vinod Rai Gupta with a net worth of $7.8 billion, Leena Tiwari at $4.4 billion, Kiran Mazumadar Shaw having a net worth of $3.9 billion, Divya Gokulnath with a net worth of $4.05 billion and Mallika Srinivasan having a net worth of $2.89 billion.