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.
AdvertisementFashion and beauty ecommerce platform Nykaa made a strong debut on the stock exchanges on November 10, opening at 77% premium from its issue price band.
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
|₹1.04 lakh crore
|Dr Reddy’s Laboratories
|Bank of Baroda
Beauty 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
Popular on BI
- Toyota was right about hybrid cars all along
- The youngest son of Asia's richest man is getting married, and the pre-wedding event features Rihanna, a 9-page dress code, and live animals
- Check out some of the best and most daring looks at Ambani's pre-wedding bash — from Rihanna to Mark Zuckerberg
- Impact of AI on Customer Service
- Bengaluru cafe blast: Karnataka CM Siddaramaiah to chair meeting with top police officials today
- India retains full policy space for benefit of farmers, fishermen at WTO: Goyal
- Sensex, Nifty settle at new closing high levels in first part of special live trading session
- Passive Income Streams