India’s first unicorn brand Nykaa is known for many things but its success story remains to be the first. Founded in 2021, by Falguni Nayar at the age of 50, this e-commerce store has been a fashionista-favorite ever since. Recently, the e-retail brand applied for an Initial Public Offering (IPO) and needless to say, the response was overwhelming. Thanks to the IPO boom, Nayar has now joined Kiran Mazumdar-Shaw, Divya Gokulnath and the other four women on the list and cemented her position as the seventh female self-made billionaire.
As reported by a leading daily, Nykaa’s shares were listed at 2,018 with around 80 percent premium on Wednesday morning. According to Bloomberg, the market cap of the e-retailer recorded a valuation of 1 trillion rupees in the first five minutes of trade. Almost an hour and a half later, Nykaa was standing tall alongside major market players such as Britannia, Godrej, and IndiGo. Even after selling 4.8 million shares via the IPO, she continues to own more than half of the company, valuing her stake at $7 billion. Not just this, the e-retailer’s 3-day IPO was oversubscribed by nearly 82 times last week.
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.” These were the words of Nayar on Nykaa’s listing ceremony and boy, they do have come true.
It took both Nayar and Nykaa eight years to reach where they are today and this is nothing short of an inspiration. The e-retail brand expanded its horizon and introduced beauty, fashion and wellness to its vertical finally offering an IPO listing to everyone who swears by it. Congratulations to Nyka as well as Nayar!
(Source- First Post)
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