 "Nykaa founder Falguni Nayar")
FSN E-Commerce Ventures, the parent entity of beauty start-up Nykaa, saw its market value nearly double to over Rs 1 trillion ($13 billion) during its stock market debut on Wednesday. Shares of the company rose 96 per cent over its initial public offering (IPO) price of Rs 1,125 to close at Rs 2,207 apiece.
Nykaa, founded by Falguni Nayar, a former investment banker, is India’s first unicorn led by a woman. The strong debut has made Nayar, who owns a 54 per cent stake in the company, the country’s richest self-made female billionaire.
“A good market reception is very encouraging,” said Nayar,
