New Delhi: After Nykaa’s Initial Public Offering (IPO), Falguni Nair, founder of the beauty e-commerce brand, became India’s seventh female billionaire. With her net worth rising to $6.5 billion, Nair on Wednesday surpassed her position as the richest female self-made billionaire in India, according to a Bloomberg Billionaires Index report.
Nykaa made a strong debut in the stock markets during its IPO, with the website recording subscriptions offering as much as 82 times. The company raised Rs 2,396 from anchor investors.
The parent company, FSN E-Commerce Ventures, has become the first female-led unicorn to be listed on a stock exchange in India. The company entered the unicorn club in August this year.
Nayak, the Sanskrit word for heroine, was coined by Nair in 2012. The company is headquartered in Mumbai and was started as an online retail portal for fashion and beauty products. At present, the company has 76 offline stores in addition to its online retail website. Nair holds stake in the company through two family trusts and seven other promoter entities.
The company offers a wide range of products from different shades of lipstick to nail color and foundation suitable for Indian skin tone, type and local weather.
Falguni Nair is the seventh member to enter the club of Indian women billionaires. According to Forbes, India has six other female billionaires – Savitri Jindal with a net worth of $18 billion, Vinod Rai Gupta with a net worth of $7.8 billion, Leena Tiwari at $4.4 billion, Kiran Mazumdar Shaw with a net worth of $3.9 billion. Divya Gokulnath has a net worth of $4.05 billion and Mallika Srinivasan has a net worth of $2.89 billion.
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