Falguni Nayar, founder of Indian beauty products startup Nykaa, became the
country’s wealthiest “self-made female billionaire” on Wednesday, according to
the Bloomberg Billionaires index. Nykaa shares made a strong stock market
debut
, and with this Nayar became one of the only six other women billionaires
in the India Bloomberg Billionaires Index. Nykaa’s parent company FSN
E-commerce also became the first woman-led unicorn to debut on the Indian stock
market. 

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The 58-year-old woman entrepreneur, now among the
wealthiest in the world, started Nykaa when she was 50 years old. Now, she owns
nearly half of Nykaa’s shares now worth $6.5 billion. Shares of her company
rose 89% as trading started.

Speaking ahead of Nykaa’s listing on the National Stock Exchange
(NSE), Nayar said, “I started Nykaa at the age of 50 with no experience. I hope
the Nykaa journey can inspire each of you to be the Nykaa of your lives.”

On Wednesday, the Nykaa stock debuted at Rs 2,018 on the NSE, up over
79.83%. On the BSE, Nykaa shares opened at Rs 2,001.

Nykaa’s startup journey began in 2012, providing beauty products online.
Nykaa was among the first e-commerce giants to deliver a specialised sort of
product online. Until then, most Indians relied on neighbourhood stores for
beauty products.

Nykaa’s achievement was to bring international beauty
brands to Indian homes at the tap of a phone. The name Nykaa is derived from a
Sanskrit word which means heroine. The startup sells over 300 domestic and
international brands buoyed by demo videos by Bollywood’s most glamorous actors
and celebrities.

Luxury brands such as MAC, Huda Beauty and Estee Lauder and more popular
Maybelline, Lakme and L’Oréal feature in Nykaa’s digital warehouse.

According to Nykaa’s filings, its sales surged 35% to $330 million in
2020-21, according to a Bloomberg report.