India’s Falguni Nayar joins ‘world’s richest’ club

Falguni Nayar, CEO and founder of Indian beauty e-commerce chain Nykaa, recently became the richest self-made woman billionaire after the stocks of her company received stellar response at the Dalal Street when it got listed at the markets. According to an AFP report, 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 feat, Falguni Nayar joined only six other Indian women billionaires in the Bloomberg Billionaires Index.  

On Wednesday, November 10, FSN E-Commerce, Nykaa’s parent company, became the first woman-led unicorn to debut at the stock market in India. 

The 58-year-old, who owns almost half of Nykaa’s shares, is now worth $6.5 billion as shares of her company surged to 89 per cent as they started trading on the day, according to a Bloomberg report. 

“I started Nykaa at the age of 50 with no experience. I hope the Nykaa journey can inspire each of you to be the Nykaa of your lives,” Nayar said ahead of the listing of Nykaa at the National Stock Exchange. Falguni Nayar has had a noteworthy career, from being the managing director of Kotak Group to starting a business at 50. Before launching Nykaa in 2012, the entrepreneur boasted of a 19-year-long career with Kotak Mahindra Group, retiring as one of the top officials in its investing banking wing. 

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