Falguni Nayars net worth surged to $6.5 billion as Nykaa listed at a over 70% premium on the stock market.
Bloomberg Billionaires Index
Nayar was appointed as the managing director of Kotak Investment Banking in 2007, but exited the company in 2012. An Indian Institute of Management (IIM), Ahmedabad graduate Nayar has previously worked with AF Ferguson & Co and Kotak Mahindra Group.
In April 2012, at the age of 50, she founded Nykaa, an online beauty store, selling beauty, cosmetic and health products from top beauty brands.
Nykaa (FSN E-Commerce Venture Limited) shares were offered within a price range of ?1,085 to ?1,125, but the company made its stock market debut at a price of ?2,001, a premium of 77.87%.
Shares were trading at ?2,203 at 12:39 p.m., on November 10, representing a premium of nearly 96% over the issue price of ?1,125. The companys market cap also breached the ?100,000 crore mark within a few hours of its stock exchange debut.
A total of 17 investors both institutional and individual sold part of their shareholdings as OfS in Nykaas IPO. This included Falguni and her husband Sanjay Nayars family office named Sanjay Nayar Family Trust, TPG Growth, Lighthouse India, J M Financial and Investment Consultancy and others.