Nykaa founder Falguni Nayar becomes India's newest self-made billionaire
Falguni Nayar, Founder, Nykaa, is India's latest self-made billionaire and the first Indian to take a profitable unicorn to IPO. Falguni’s net worth tops $6.5 billion post listing.
Entrepreneur Falguni Nayar has become India’s newest self-made billionaire as shares of FSN E-Commerce Ventures, the parent company of , made its debut on the stock exchange with 80 percent gain on Wednesday. It is also India’s first profitable startup to head for an IPO.
Falguni’s net worth tops $6.5 billion post listing.
India’s only women-founded unicorn to go public, Nykaa opened at Rs 2,018 as against the issue price of Rs 1,125 today. Its shares were subscribed 81.78 times on the last day of subscription with interest from institutional investors earlier on Monday.
Ahead of its IPO in October, Nykaa raised Rs 2,396 crore from anchor investors. In nearly a decade’s journey, Falguni Nayar is credited with having built the category of beauty and wellness industry online in the country.
It has raised 12 rounds of funding worth $112 million from a mix of Venture Capital firms including Steadview Capital, Sharrp Ventures, and Lighthouse Funds as well as celebrities like Alia Bhatt and Katrina Kaif - both of whom had made undisclosed investments.
Falguni Nayar, Founder, Nykaa
A former investment banker, Falguni took to entrepreneurship when she was close to 50-years-old and started Nykaa as an ecommerce platform for beauty and wellness products in 2012. Today, it operates on an omnichannel retailing model with 80 stores across 40 cities in India and aims to expand retail presence in Tier-II cities and beyond.
Nykaa is no longer restricted to beauty and wellness and offers a wide range of products including accessories, appliances, fitness and activewear, sourced directly from the brands. This year alone, it acquired jewellery brand Pipa Bella and skincare brand Dot & Key.
The omnichannel lifestyle firm broke even five years after inception in 2012 and claimed profitability for FY19. Its revenue grew by 38 percent in FY21 as compared to previous fiscal to touch Rs 2,440.89 core.
Edited by Megha Reddy