Became one of the 20 richest people of India After FSN E-commerce Ventures on Wednesday, Nykaa’s parent firm made a blockbuster debut on the stock exchanges.
Nair, only the second Indian self-made female billionaire after Biocon founder Kiran Mazumdar-Shaw, was worth around Rs 55.6 lakh crore ($7.48 billion) as of 3.10 pm on Wednesday, when FSN’s stock stood at Rs 2,206 per share. He owns 53.5% of the company through two promoter trusts and seven other promoter entities.
This made him the 17th richest person in India, ahead of Ashwin Dani, non-executive chairman of Asian Paints Ltd ($7.05 billion) and behind Nusli Wadia, chairman of Wadia Group ($8.4 billion), according to the Bloomberg Billionaires Index.
Nykaa, meanwhile,
Had a market cap of around 10.34 lakh crores ($13.99 billion) It became the 51st largest company in India on Wednesday afternoon, data from companymarketcap.com shows.
This put the online cosmetics retailer ahead of giants like Coal India ($13.89 billion), Godrej ($13.64 billion), Hindalco Industries ($13.60 billion) and Bharat Petroleum ($12.70 billion). Zomato, the first Indian startup to go public, was up four places at 47 with a market cap of $14.58 billion.
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ETtechEarlier in the day, shares of FSN were listed on the National Stock Exchange (NSE) at Rs 2,018, a jump of 79.38% from the offer price of Rs 1,125.00.
Nykaa’s three-day IPO, which closed on November 1, was in great demand and was subscribed 82 times. The company received over 200 crore bids for 2.64 crore shares on offer and raised Rs 5,352 crore.