Nykaa, led by a woman, first appeared on Dalal Street on Wednesday, November 10, and the astronomical response shot CEO and founder Falguni Nayar a very high number. The 58-year-old is now the richest woman in India.
According to an AFP report, Nayar is now one of the wealthiest people in the world, backed by it’s latest public proposal that was listed on the day amid an ongoing IPO nationwide. With this success, Nykaa’s founder and CEO have joined just six billion other women in the India Bloomberg Billionaires Index, adding another feather to her crown since 2012.
“I started Nykaa at the age of 50 with no experience. I hope Nykaa’s journey can inspire you to be Nykaa in your life,” she said before she listed her company on the National Stock Exchange (NSE). According to a Bloomberg report, her company’s shares increased to 89 per cent as they started trading that day.
Nykaa shares began to rise on Dalal Street on Wednesday, November 10. The shares opened with Rs 2,001 on the BSE and increased 77.87 per cent on the high end of the issuance. On the NSE, Nykaa’s stock opened debut of Rs 2,018, over 79.83 per cent. On that day, FSN E-Commerce, Nykaa’s parent company, also became the first unicorn-led woman to appear on the Indian stock market.
In 2012, Nayar, just a few months old at 50, came up with Nykaa’s vision to provide beauty products for women and men in the country online. At that time, the Indians relied on small shops nearby to buy beauty products. With the launch, cosmetic and skincare products were simply available over the phone, and the variety of options increased significantly with the introduction of international and unprecedented products.
A Bloomberg report states: “The start has grown into a world-class beauty retailer, selling online videos of famous Bollywood actresses and celebrities and more than 70 brick and mortar stores,” says a Bloomberg report. Heroine sells more than 300 domestic and international brand products – including Maybelline, Lakme, L’Oréal, and luxury brands, including MAC, Huda Beauty, and Estee Lauder.
With various products such as essential bridal makeup accessories and hundreds of lipstick, foundation, and nail colour to suit the Indian market, Nykaa has become a leading beauty retailer in the country over the years. According to a report by Bloomberg quoting Nykaa documents, its sales increased by 35 per cent to $ 330 million last March, making it a lucrative company, the average among first-time online startups.
After a long career at Kotak Mahindra Bank, where she ended up managing director of investment banks, Falguni Nayar achieved great success in Nykaa but still believed that the company was “going to go away.” The company has worked in the fashion industry and is led by her daughter and son, educated by the Ivy League, who is the company’s co-founders.
The Nykaa IPO is open for registration from October 28-November 1, 2021. The company plans to increase the Rs 5,352 crore in its first public fund. Nykaa user FSN E-Commerce Ventures has a price band at Rs 1,085-1,125 per equity stock before being listed. Founded in 2012 by former investment entrepreneur Falguni Nayar, the female-led unicorn offers 4,000 beauties, personal care, and fashion products through its website, app, and 80 unusual brick and mortar stores.
FSN E-Commerce Ventures, an organization of Nykaa’s parents, is the first unicorn led by an Indian woman to enter the stock market. Founded in 2012 by former investment entrepreneur Falguni Nayar, the female-led unicorn offers 4,000 beauties, personal care, and fashion products through its website, app, and 80 weird brick and mortar shops. Nayar, who owns about half of Nykaa, is worth about $ 6.5 billion as its shares increased by 89% when it started trading on Wednesday.
Nykaa IPO is one of the many online buying companies making their first appearance amid a growing stock market this year. Paytm, India’s leading digital payment company sponsored by Warren Buffett’s Berkshire Hathaway Inc and Masayoshi Son’s SoftBank Group Corp., closes registration on Wednesday. One97 Communications Ltd. is fighting for a $ 2.5 billion listing, the largest in the country.
Although Nykaa has changed the perception of Indians to make only lipstick and kajal eyeliner, “it is a long way to go,” Nayar told Bloomberg ahead of the IPO. In a country of 1.3 billion people, women- even men- open their own pockets to use paint products and makeup.
After completing her studies at IIM Ahmedabad, Falguni began her consultative career with AF Ferguson & Co. she then spent 18 years at Kotak Mahindra Bank, assisting several businesses, and is the Managing Director of Kotak Mahindra Investment Bank and the director of Kotak Securities – a banking unit.
Leading a team of more than 1600 people, Falguni has established a Nykaa beauty shop and lifestyle that has emerged as India’s leading beauty retailer with a portfolio of 1500+ products, including its private label, available online and at 68 stores across India.
Nykaa is a lucrative company, rare among the Internet startups that debut in the public market. Nayar holds a stake in her company with two family trusts and seven other promotional structures. Her daughter and son, educated by the Ivy League and running various Nykaa units, are promoters.
Nykaa IPO is one of the many online buying companies making their first appearance amid a growing stock market this year.
Article Proofread and Edited by Shreedatri Banerjee