Falguni Nayar’s net worth surges to $6.5 billion after Nykaa’s successful IPO
- Falguni Nayar’s net worth surged to $6.5 billion as
Nykaalisted at a over 70% premium on the stock exchange.
- The company’s market cap also breached the ₹100,000 crore mark within a few hours of its stock exchange debut.
- Nayar founded Nykaa at the age of 50 after quitting as the MD of Kotak Investment Banking.
According to the Bloomberg Billionaires Index, Nayar’s net worth surged to $6.5 billion as Nykaa listed at a over 70% premium on the stock market.
Indian Institute of Management (IIM), Ahmedabad graduate Nayar has previously worked with AF Ferguson & Co and Kotak Mahindra Group. She was appointed as the managing director of Kotak Investment Banking in 2007, but exited the company in 2012.
AdvertisementAt the age of 50, she founded Nykaa.
Nykaa’s (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 ₹2,001 earlier today. This is a premium of 77.87%.
WATCH MORE: Nykaa, an Indian fashion and cosmetics brand, has beaten the country’s biggest biscuits maker and online job portal with a blockbuster IPO.
The 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 company’s 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 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.
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