Beauty startup Nykaa’s founder Falguni Nayar has become India’s wealthiest self-made female billionaire, according to the Bloomberg Billionaires Index, as shares made a strong stock market debut on Wednesday.
Nayar, 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 Wednesday. FSN E-Commerce Ventures, Nykaa’s parent entity, is India’s first woman-led unicorn to hit the stock exchange.
