Nykaa shares make a splash; founder family's wealth soar over USD 7.5 bn

When shares of Nykaas parent FSN ECommerce Ventures skyrocketed over 79 per cent in debut trade on Wednesday founder Falguni Nayar and family also saw their wealth surge to nearly USD 7 billionAnd when the markets closed for trade the wealth was well over USD 75 billionThe dream debut of Nykaa in a market being flooded with initial share sales sustained the momentum till the close of the trade as the scrip registered a staggering gain of over 96 per cent to end at Rs 220670 apiece on the BSETo put things in perspective the issue price of FSN ECommerce was just Rs 1125 apiece and it got listed at Rs 2001 a premium of 78 per cent on the BSE During the days trade the share price had almost doubled to Rs 224810On the NSE the share debuted at Rs 2018 a gain of over 79 per centThe market valuation of Nykaa in which Falguni Nayar and family owns over 54 per cent stood at Rs 10443888 crore on the BSEThe promoter and promoter groups stake of 5422 per cent translates to more than 253 crore shares or 253365357 shares to be precise Based on the listing price of Rs 2001 the stake was worth nearly Rs 50700 crore or around USD 68 billionAnd on the basis of the closing price the shareholding is valued at over Rs 55900 crore or more than USD 75 billion The calculations are based on the exchange rate being a little over 74 against the US dollarFounded by Falguni Nayar in 2012 the company has a diverse portfolio of beauty personnel care and fashion products including its own manufactured brand products under its two business verticals Nykaa and Nykaa FashionThe 58yearold Falguni Nayar the founder Executive Chairperson amp Managing Director and Chief Executive Officer of the company has over 26 years of experience in ecommerce investment banking and brokingShe holds a postgraduate diploma in management from the Indian Institute of Management AhmedabadIt is the first of its kind listing in the ecommerce space and thus garnered a lot of interest validated from IPO subscription of 82 times Sneha Poddar AVP Retail Research at Motilal Oswal Financial Services said about the stellar listingFSN ECommerces promoters are Falguni Nayar Sanjay Nayar Falguni Nayar Family Trust and Sanjay Nayar Family TrustThis story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever