The Nykaa of D Street: A Blockbuster Debut

Beauty ecommerce platform Nykaa’s parent company FSN E- Commerce Ventures made a strong debut on the Bourses, catapulting founder Falguni Nayar to the status of India’s richest self-made woman billionaire. The company made its way into the Rs 1 lakh crore market capitalisation club with the stock closing at Rs 2, 206.70 almost double the offer price, prompting some concern over the rich valuation.

The stock’s first day pop was higher than market expectations it listed at Rs 2001 a 78% premium over the IPO price of Rs 1,125 having gone as high as Rs 2,248.10. Nykaa’s listing was the best since Nazara technologies which surged 79% over its IPO price on debut in March 2021. Nayar and family own 54% of the company valuing their stakes at about $7.51 billion or Rs 56,000 crore making her the richest person in the country.

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