Falguni Nayar, Founder Of Beauty Startup Nykaa, Becomes India's Wealthiest Self-Made Female Billionaire

Falguni Nayar, the founder of beauty startup Nykaa, has become India¡¯s wealthiest self-made female billionaire, as her company shares made a strong stock market debut on Wednesday

The 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.

Forbes

According to a report in Bloomberg, Nayar is now among one of the world¡¯s wealthiest, which was backed by Nykaa¡¯s recent initial public offer that got listed on the day amid an ongoing IPO boom across the country.

With this achievement, the Nykaa founder and CEO has joined only six other women billionaires in India Bloomberg Billionaires Index.

Credit: Nykaa

FSN E-Commerce Ventures, Nykaa¡¯s parent entity, is India¡¯s first woman-led unicorn to hit the stock exchange. 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.

Who is Falguni Nayar?

Born and raised in Mumbai, Nayar graduated from Sydenham College of Commerce & Economics, with a postgraduate degree from the Indian Institute of Management, Ahmedabad.

She began her career as a consultant for the management consulting firm AF Ferguson & Co.

In 1993, she joined the mergers & acquisitions team at Kotak Mahindra Group. In 2005, she was appointed as the Managing Director. After a 19 year stint at Kotak, Falguni gave up her hi-profile role to take the plunge into entrepreneurship.

Nayar founded Nykaa, derived from the Sanskrit term for heroine, with a seed investment in April 2012.

Nykaa

The startup has since grown into the country¡¯s leading beauty retailer, having seen its online sales skyrocket. Nykaa sells items including exfoliation creams, bridal make-up essentials and hundreds of shades of lipstick, foundation and nail colour.

Its sales surged 35% to $330 million in the year ended in March, according to its filing. Nykaa is a profitable company, a rarity among the internet startups making a debut in the public markets.

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.

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