Nykaa, which made a grand entry on Dalal Street on Wednesday, November 10, is the only unicorn company in the country to be led by a woman. Unicorns are those companies whose market value has reached more than 1 billion dollars. Nykaa was listed on the stock exchange on Wednesday at a premium of about 79% above its IPO price. With this, not only did the company’s market value cross Rs 1 lakh crore, but it also raised the net worth of its CEO and founder Falguni Nayar to new heights. Falguni Nair, 58, has now become India’s richest self-made female billionaire.
According to an AFP report, Falguni Nair is now one of the richest people in the world. Falguni Nair, who founded Nykaa in 2012, has now joined Bloomberg’s India Billionaires Index. The special thing is that apart from Nair, only six other women billionaires are included in this index.
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Falguni Nair, before listing her company on the National Stock Exchange (NSE), said, “I started Nykaa at the age of 50. I had no business experience at that time. I hope Nykaa’s journey is with you. can inspire each one to be the hero of their life.” According to a Bloomberg report, Falguni Nair owns about 50% of Nykaa’s shares, which are currently valued at $6.5 billion. Shares of Nykaa were trading with a jump of about 89% after listing on Wednesday.
Shares of Nykaa made a great start on Dalal Street on Wednesday, November 10. Shares of Nykaa were listed on the BSE at Rs 2,001, which was around 77.87 per cent higher or premium over the upper price band fixed for the IPO. On the NSE, Nykaa’s stock opened with a gain of 79.83 per cent at Rs 2,018. With this Nykaa’s parent company, FSN E-Commerce, has become the first female-led unicorn company in India to enter the Indian stock market.
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Falguni Nair got the idea to start Nykaa in 2012. At that time his age was only a few months less than 50 years. The objective of Nykaa was to make online beauty products available to women and men in the country. At that time, most Indians depended on small neighborhood shops to buy beauty products. With the launch of Nayak, products related to beauty and skin care were now just a click away on the phone. With this, Nykaa has brought many international brands on its platform and has continuously grown in its category. Choices or products across multiple categories were first spotted on Nykaa only.
Nykaa is today India’s largest beauty and personal care online market place. In FY21, the company delivered 1.71 crore orders. Nykaa has around 80 offline stores in 40 cities across the country. In the last fiscal, the company’s revenue grew 35 per cent to Rs 2,441 crore ($330 million) and posted a profit of Rs 619 crore. The company’s mobile apps had around 4.37 crore downloads by the end of March. Purchases made through mobile apps account for more than 86 percent of its online gross merchandise value.
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