In an interview following the trading debut, Falguni Nayar remarked, that women need to let the focus of their life be on themselves. She further said that she hoped that more women, like her, would dare to dream big. Nykaa’s parent company, FSN E-Commerce Ventures Ltd, raised $720 million in its initial public offering on Wednesday, with shares rising 96% on the first day of trade. This elevated Nayar to the ranks of the world’s wealthiest people. She became the wealthiest self-made billionaire in India and the seventh woman billionaire in the country. She is worth almost $7 billion and controls roughly half of the corporation.
On the National Stock Exchange (NSE), shares of the firm were trading roughly 96% higher than the IPO issue price as of 1:20 p.m. FSN E-Commerce Ventures’ market capitalization surpassed Rs 1 lakh crore after the IPO. Nykaa’s app has millions of users, making it one of the most popular in the online BPC industry. It also has more than 70 physical locations in a variety of cities. Apart from focusing on trendy items, the firm wants to extend its footprint with new outlets following its recent IPO funding.
Nykaa, an Indian cosmetics firm, has raised about $33 billion in its initial public offering (IPO)
After the Covid-19 epidemic, Nayar’s firm became one of the few profitable new-age digital startups, and its financials improved significantly. In FY21, the firm had a net profit of more than Rs 61 crore, compared to a loss of more than Rs 16 crore in FY20. Due to improved economic activity following the epidemic, its revenue from operations returned in FY21. Revenue increased by 38%.
Falguni Nayar, a nearly 20-year investment banker, founded Nykaa in 2012, only months before she turned 50. She is now one of India’s wealthiest ladies after eight years. Nykaa’s path has been inspiring, and the company is one of the shining examples of how the country’s startup environment has grown over time.
