Nykaa is now bigger than Coal India, Britannia, IRCTC and almost double of Hero MotoCorp
- Nykaa, which listed its IPO on November 10, crossed ₹1 lakh crore market cap mark within a few hours of its stock market debut.
- Founder Falguni Nayar’s net worth surged to $6.5 billion as Nykaa listed at a over 70% premium on the stock exchange.
- With this, Nykaa’s market cap became bigger than Coal India, Britannia, IRCTC and double of Hero MotoCorp.
Shares of Nykaa opened at ₹2,001 on the BSE and ended at ₹2,208. This raised the market cap to over ₹1 lakh crore within a few hours of the stock’s debut on the exchanges.
With this, the market capitalisation of the company grew bigger than several large companies listed on the stock exchanges like Coal India, Britannia, and IRCTC. In fact, it is double the size of Hero MotoCorp, Bank of Baroda, and Cadila Healthcare.
|Some of the large cap companies in India||Market cap|
|Nykaa||₹1.04 lakh crore|
|Dr Reddy’s Laboratories||₹80,331 crore|
|Eicher Motors||₹74,813 crore|
|Hero MotoCorp||₹54,316 crore|
|Bank of Baroda||₹52,049 crore|
|Cadila Healthcare||₹51,407 crore|
AdvertisementBeauty ecommerce brand’s successful listing made its founder and chief executive Falguni Nayar India’s wealthiest self-made female billionaire.
Nykaa’s shares were offered within a price range of ₹1,085 to ₹1,125, but the company made its stock market debut at ₹2,001 earlier today. This is a premium of 77.87%.
A total of 17 investors — both institutional and individual — sold part of their shareholdings as offer for sale (OFS) in Nykaa’s IPO. This included Falguni and her husband Sanjay Nayar’s family office named Sanjay Nayar Family Trust, TPG Growth, Lighthouse India, J M Financial and Investment Consultancy and others.
Nykaa intends to use this capital for acquisition of customers as well as new businesses. It also plans to increase its international presence by foraying into the Middle East as well as the United Kingdom, before stepping into Europe.
SEE ALSO: Analysts recommend subscribing to Latent View Analytics IPO on strong demand for data analytics
Falguni Nayar’s net worth surges to $6.5 billion after Nykaa’s successful IPO
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