Nykaa founder Falguni Nayar on Wednesday became India's seventh woman billionaire and the wealthiest self-made billionaire in an ongoing initial public offering (IPO) boom which saw the e-commerce giant making a blockbuster debut on Dalal Street, its parent company FSN floating on the Mumbai stock exchange. Moments after the markets opened on Wednesday, Nykaa shares were being listed at Rs. 2,018 with around 80 per cent premium. According to the Bloomberg news agency, the market cap of the beauty and fashion retailer hit an overall valuation of 1 trillion rupees ($13.5 billion) in the first five minutes of trade. Within an hour and a half, Nykaa's market cap had already matched industry giants such as Britannia, Godrej, and IndiGo.

Nykaa founder Falguni Nayar on Wednesday became India's seventh woman billionaire and the wealthiest self-made billionaire in an ongoing initial public offering (IPO) boom which saw the e-commerce giant making a blockbuster debut on Dalal Street, its parent company FSN floating on the Mumbai stock exchange. Moments after the markets opened on Wednesday, Nykaa shares were being listed at Rs. 2,018 with around 80 per cent premium. According to the Bloomberg news agency, the market cap of the beauty and fashion retailer hit an overall valuation of 1 trillion rupees ($13.5 billion) in the first five minutes of trade. Within an hour and a half, Nykaa's market cap had already matched industry giants such as Britannia, Godrej, and IndiGo.