Rarefied club of billionaire Indian women to grow with Nykaa IPO

When India’s beauty retailer Nykaa opens its initial public offering to subscribers next week, it will catapult founder Falguni Nayar into India’s rarefied league of billionaire women.

The share sale will value the company at as much as $7.1 billion (Rs 53,245 crore approx), giving Nayar and her family a combined net worth of about $3.5 billion (Rs 26,247 crore aprox) if it meets the target. FSN E-Commerce Ventures, the formal entity that operates Nykaa, on Friday set a price range of Rs 1,085-Rs 1,125 a share.

Nayar’s Falguni Nayar Family Trust, the family’s Sanjay Nayar Family Trust and seven other related entities hold about half the stake in the company, whose shares are expected to start trading on November 11.