After Nykaa’s shares witnessed an exorbitant jump from its issue price, its founder Falguni Nayar became India’s wealthiest self-made woman billionaire.
Shares of Nykaa made their Dalal Street debut on Wednesday with an initial price of Rs 1125 on the share market and ended almost 100 percent higher with the share price stretching to Rs 2208 at the close of day’s trade. The company was earlier scheduled to list on Thursday. The counter had already commanded a strong premium in the grey market, beckoning a blockbuster listing of the new-age startup. Nykaa, which was founded in 2012 selling beauty and personal care products via its mobile app and website, has become India’s first unicorn startup headed by a woman. Eight years later, she has joined the ranks of the self-made billionaire. At the listing ceremony on Wednesday, Nayar said, “I hope the Nykaa journey, an Indian-born, Indian-owned, and Indian-managed dream-come-true–can, inspire each of you.”
The market cap of Nykaa hit an overall valuation of $13.5 billion (1 trillion Indian rupees).