Mumbai: Falguni Nayar She has emerged as India’s richest self-made woman billionaire after her nearly decade-old startup’s blockbuster list.

Shares of FSN E-Commerce Ventures Limited, a parent entity of Nykaa,
Soared 89 percent above its IPO price on Wednesday, citing India’s largest cosmetics retailer with a market cap of around $13 billion. Nair, who with family trusts owns more than half of the company, now has assets of about $6.5 billion. Savitri Jindal, who controls the OP Jindal Group founded by her late husband, is the richest woman in the country. According to the Bloomberg Billionaires Index, his wealth is valued at $12.9 billion.

“I started Nykaa at the age of 50 without any experience. I hope the Nayaka journey can inspire each of you to become the hero (heroine) of your life,” the Mumbai-born Nair said before ringing the opening bell at the National Stock Exchange on Wednesday.

An investment banker for nearly 20 years, Nair started Nykaa in 2012, a few months before his 50th birthday. The startup has since grown into the country’s leading beauty retailer, even before its initial public offering (IPO) ahead of Diwali.
was subscribed almost 82 times, The firm counts TVS Capital and Steadview Capital as its investors, besides actors Katrina Kaif and Alia Bhatt, who hold minority stake in the company. Nair holds stake in his company through two family trusts and other promoter entities including his children.

Nykaa’s IPO is one of several consumer Internet companies making their debut this year amid a rising stock market. Zomato Limited
started the trend In July and Paytm’s parent One97 Communications
Continuing It With India’s Biggest IPO On Record,