Nykaa’s IPO made investors rich. The company’s shares were listed on the stock exchange at almost double the price. The credit for this goes to Falguni Nayar, the founder of Nayaka. In a recent program, Nair told some such things which can be beneficial for people starting a startup. Let us know what he said.
Nair regrets that there was no person with him who had a good understanding of technology. He says that if he had made such a person the founder, then the initial growth of Nyka would have been more. However, Nykaa’s growth has been spectacular. Experts believe that its performance will be good in the coming times as well.
The founder of Nykaa said, “If I get a chance to start again, I will make someone who knows technology as the co-founder. If I had done this with Nykaa, I would not have faced many initial problems. In the initial days Our growth would have been faster.”
Nykaa got itself listed on the stock exchanges in November last year. E-commerce companies create different platforms for different types of customers, but Nair says that he does not see any difference in the consumption pattern of users in metro and other cities. “I believe income level makes a difference in consumption in metro and tier 1 cities,” he said.
He said that there are rich people everywhere. There is also a similarity in terms of customer knowledge. People in Tier 2 and Tier 3 cities are more open about things happening abroad. “You take the example of Clean Beauty or Natural Beauty, neither of which is limited to cities,” he said.
Nykaa’s IPO was a huge success. The company had raised Rs 5000 crore from this issue. The listing of its shares was excellent, but since then it has declined. Nair said that Corona has been the biggest challenge for Nayaka’s business. Nykaa’s revenue grew 36 per cent to Rs 1,098 crore in the third quarter of this fiscal, while profit fell 59 per cent to Rs 28 crore.
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