#WomenEmpowerment: Nykaa founder Falguni Nayar becomes India's wealthiest self-made female billionaire
Nykaa founder Falguni Nayar has now become India"s 7th woman billionaire, and the wealthiest self-made billionaire
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Mumbai, November 10: Nykaa founder Falguni Nayar has now become India's 7th woman billionaire, and the wealthiest self-made billionaire as her company shares made a strong stock market debut on WednesdayThe firm surged as much as 89%, pushing Nayar's new worth to about $6.5 billion. Nayar, who owns about half of Nykaa, is now India’s richest self-made woman billionaire.
Moments after markets opened on Wednesday, the Nykaa shares were being listed at Rs. 2,018 with around 80% premium. The market cap of it, hit an overall valuation of 1 trillion rupees ($13.5 billion) in the first 5 minutes of trade. Within an hour and a half, Nykaa's market cap had already matched industry giants such as Britannia, Godrej, and IndiGo.
Nykaa, India's first unicorn start-up headed by a woman, was founded by Falguni Nayar in 2012, selling beauty and personal care products via its mobile app and website. 8 years later, Nayar has joined only 6 other Indian women billionaires, as she joined the ranks as the wealthiest self-made billionaire. At the listing ceremony on Wednesday, Nayar said, “I hope the Nykaa journey - an Indian-born, Indian-owned, and Indian-managed dream-come-true - can inspire each of you.”
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Nykaa quickly became popular with young Indians - predominantly women, who preferred the wide selection of brands compared to what was on offer in the local shops.
As Nykaa's popularity grew, its brand appeal also did, and Bollywood actors like Katrina Kaif, and many social media influencers helped the e-commerce platform break new ground in skincare and makeup carts of Indian women. It has a high street presence with 80 stores across 40 Indian cities.
