Nykaa founder Falguni Nayar becomes India’s richest self-made billionaire

Falguni Nayar

Falguni Nayar the founder of Nykaa – a beauty brand, has become India’s wealthiest self-made female billionaire, according to the Bloomberg Billionaires Index, as shares of her company ruled the stock market.  

Nykaa was founded in 2012 by the 58 year old former investment banker. Falguni’s beauty company offers 4,000 beauty, personal care and fashion brands through its website, app and 80-odd brick-and-mortar stores. 

“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,” she said ahead of her company’s listing at the National Stock Exchange (NSE). 

According to reports, Falguni who owns about half of Nykaa, is now worth about $6.5 billion as shares of the firm surged as much as 89% when they started trading. FSN E-Commerce Ventures, Nykaa’s parent entity, is India’s first woman-led unicorn to hit the stock exchange.