India has another female, added to the list of tycoons in the country. Falguni Nayar is a 58-year-old former investment banker whose beauty startup made its blockbuster debut on the securities exchange this month.
The owner of beauty care products internet business webpage Nykaa — have flooded since they started trading Mumbai this week.
The stock has dramatically increased its issue price, making the organization worth almost $14 billion, eleven times the valuation in its last private financing round in 2020.
Accordingly, founder and CEO Falguni Nayar — one of a handful of the Indian women to begin and lead a tech organization worth more than $1 billion — has seen her total assets take off to nearly $7 billion.
That makes her the country’s most up to date independent billionaire, as per the Bloomberg Billionaires Index.
Falguni Nayar established the organization in 2012, when most Indians purchased make-up items at local mother and pop stores, however were getting used to shopping on the web.
Nykaa, which signifies “actress” in Sanskrit, now offers more than 4,000 brands on its site. It recorded $330 million in income in the monetary year endd in March.
Nayar studied at the Indian Institute of Management in Ahmedabad, the country’s most lofty business college. She is presently India’s most well off self-made female billionaire, as per Bloomberg.
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Meanwhile, Savitri Jindal, who is the chairwoman of the $18 billion O.P. Jindal Group, which was set up by her husband, remains the richest woman in the country, with a net worth of nearly $13 billion.
Mukesh Ambani — chairman of the rambling aggregate Reliance Industries — is presently worth more than $97 billion, more than $20 billion over a year ago, as per Bloomberg.
Not a long ways behind him is Adani Group organizer Gautam Adani, whose wealth soar from under $30 billion this time last year to more than $85 billion today. The year has also been fruitful for Indian tech new companies.
Nykaa isn’t the only high profile public introduction this month, all things considered. Payment firm Paytm launched a $2.5 billion IPO, India’s biggest ever. It’s relied upon to begin trading one week from now.
