Falguni Nayar, the owner of about half of Nykaa, is now worth about $6.5 billion. The reason being the spike in the shares of this firm as much as 89%. She has become India’s wealthiest self-made female billionaire, according to the Bloomberg Billionaires Index.
Nayar formerly led a top Indian investment bank, founded Nykaa in 2012 just months before turning 50. Since then, the startup has grown exponentially into country’s leading beauty retailer, buoying online sales with demo videos by glamorous Bollywood actors and celebrities and more than 70 brick-and-mortar stores. FSN E-Commerce Ventures, Nykaa’s parent entity, is India’s first woman-led unicorn to hit the stock exchange. As a matter of fact, it priced its initial public offering at the top end of a marketed range, raising 53.5 billion rupees ($722 million). The stock was up 78% as of 10:36 a.m. in Mumbai.
Moreover, Nayar owns her company stake through two family trusts and seven other promoter entities. Her Ivy League-educated daughter and son, who run different Nykaa units, are among the promoters. Savitri Jindal, the controller of OP Jindal Group conglomerate founded by her late husband, is the nation’s wealthiest woman. Her fortune is valued at $12.9 billion, according to the Bloomberg Billionaires Index, a ranking of the world’s 500 richest people