Fashion commerce firm Nykaa made a stellar stock market debut on Wednesday with its market capitalization crossing ₹ 1 lakh crore. With this, Falguni Nayar’s beauty startup has jolted her to the ranks of the World’s richest. She’s become India’s wealthiest self-made female billionaire, according to the Bloomberg Billionaires Index.
The company's shares were listed at Rs 2,001
on BSE on Wednesday, a hefty premium of 77.87 per cent over its issue price of
Rs 1,125. On NSE, the scrip was listed at Rs 2018, a premium of 79.38 per cent.
Nykaa's three-day share sale via initial public offering (IPO), which closed on November 1, saw huge demand for shares as the offer was subscribed 82 times. The IPO of FSN E-Commerce Ventures Limited received bids for 2,16,59,47,080 shares against 2,64,85,479 shares on offer and raised ₹ 5,352 crore through the issue.
Nykaa's IPO consisted of fresh issue of ₹ 630 crore and an offer for sale worth ₹ 4,722 crore. At the upper end of the price band one lot of 12 Nykaa shares in the IPO costed ₹ 13,500.
Nayar, who formerly led a top Indian investment bank, founded Nykaa in 2012 just months before turning 50. The company has a diverse portfolio of beauty, personnel care and fashion products, including its owned manufactured brand products under its two business verticals -- Nykaa and Nykaa Fashion.
The startup has since grown into the country’s leading beauty retailer with more than 70 brick-and-mortar stores.
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It has three offline store formats called Nykaa Luxe, Nykaa On Trend and Nykaa beauty Kiosks. The Luxe format features international luxury beauty brands such as Huda Beauty, MAC, Dior, and Givenchy along with Nykaa Beauty, the in-house collection of beauty products. The Nykaa On Trend format has products curated by category basis their popularity. In India, Nykaa is the only retailer that sells international brands like e.l.f, Charlotte Tilbury, Tonymoly, Becca, Sigma, Limecrime, Dermalogica, and Murad.