Fashion commerce firm Nykaa made a stellarstock market debut on Wednesday with its market capitalizationcrossing ₹ 1 lakh crore. With this, Falguni Nayar’s beautystartup has jolted her to the ranks of the World’s richest. She’s becomeIndia’s wealthiest self-made female billionaire, according to the BloombergBillionaires Index.
The company's shares were listed at Rs 2,001on BSE on Wednesday, a hefty premium of 77.87 per cent over its issue price ofRs 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 initialpublic offering (IPO), which closed on November 1, saw huge demand for sharesas the offer was subscribed 82 times. The IPO of FSN E-Commerce VenturesLimited received bids for 2,16,59,47,080 shares against 2,64,85,479 shares onoffer and raised ₹ 5,352 crore through the issue.
Nykaa's IPO consisted of fresh issueof ₹ 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 IPOcosted ₹ 13,500.
Nayar, who formerly led a top Indianinvestment bank, founded Nykaa in 2012 just months before turning 50. Thecompany has a diverse portfolio of beauty, personnel care and fashion products,including its owned manufactured brand products under its two businessverticals -- Nykaa and Nykaa Fashion.
The startup has since grown into the country’sleading beauty retailer with more than 70 brick-and-mortar stores.
It has three offline store formats calledNykaa Luxe, Nykaa On Trend and Nykaa beauty Kiosks. The Luxe format featuresinternational luxury beauty brands such as Huda Beauty, MAC, Dior,and Givenchy along with Nykaa Beauty, the in-house collection ofbeauty products. The Nykaa On Trend format has products curated bycategory basis their popularity. In India, Nykaa is the only retailer thatsells international brands like e.l.f, Charlotte Tilbury, Tonymoly, Becca,Sigma, Limecrime, Dermalogica, and Murad.