Shares of FSN E-commerce Ventures, the parent of beauty & personal care (BPC) retailer Nykaa, on Wednesday made a sizzling debut on the stock exchanges as it ended with a premium of 96 per cent to the issue price.
The spectacular performance sent its market cap surpassing Rs 1 lakh crore to touch Rs 1,04,360.85 crore.
That puts the net worth of its founder Falguni Nayar, who along with her husband and two children hold 51 per cent, at a little over Rs 53,000 crore. According to Bloomberg Billionaires Index, Nayar is now India’s weathiest self-made female billionaire. Savitri Jindal, chairperson of the OP Jindal group, is currently ranked as India’s wealthiest woman.
While shares of Nykaa were expected to make a strong opening, its performance topped estimates of some of the market observers. On the BSE, the share debuted at Rs 2,001 per share — a premium of close to 78 per cent over the issue price of Rs 1,125 per share. The scrip then almost doubled over the issue price to hit an intra-day high of Rs 2,248.10. It finally settled at Rs 2,206.70.
