Shares of cosmetic-to-fashion platform Nykaa posted a blockbuster opening Wednesday (Nov. 10) with the latest startup listing valuing the company at nearly $13 billion. Shares of FSN E-commerce Ventures, which owns the Nykaa brand, rose 89.2% to Rs 2,129 after opening at Rs 2,018 in pre-open trade. The first price was at a 79.4% premium to the initial public offering (IPO) price of Rs 1,125, valuing the company at Rs 954.37 billion. The company’s owner Falguni Nair has come into the limelight ever since the company’s shares jumped. Falguni Nair, founder of beauty startup Nykaa, has become India’s richest female billionaire.
There was a tremendous jump in the shares of Nykaa Company
Falguni Nair, 58 years old CEO and founder of Nykaa, is now the richest self-made female billionaire in the country. Nykaa is derived from the Sanskrit word meaning heroine. Falguni Nair said before the listing that ‘I started Nayaka at the age of 50 without any experience. I hope the story of Nayaka can inspire each one of you to be the hero/heroine of your life. Before joining Nayaka, Nair was an investment banker and was working as the Managing Director of Investment Banking in Kotak Mahindra Bank.
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Nayaka was started on a small scale from 2012
Nair told in an interview that in the year 2012, people mainly bought beauty products from neighborhood shops. That’s when we started Nykaa to launch a variety of cosmetic and skincare items. Nykaa sells products from over 300 domestic and international brands including Maybelline, Lakme, L’Oreal and luxury brands like MAC, Huda Beauty and Estee Lauder. Today Nykaa has become a big brand. Bollywood actresses Katrina and Jhanvi Kapoor are seen endorsing the brand.
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