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regular-article-logo Tuesday, 05 November 2024

Nykaa shares make sizzling debut at stock exchanges

The spectacular performance sent its market cap surpassing Rs one lakh crore to touch Rs 1,04,360.85 crore

Our Special Correspondent Mumbai Published 11.11.21, 01:28 AM
Representational image.

Representational image. Shutterstock

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.

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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.

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