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Nykaa shines on D-Street debut; market cap crosses Rs 1 trillion

Nykaa's Rs 5,352-crore IPO was subscribed 82 times, the most among large start-up IPOs

Nykaa founder Falguni Nayar
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Nykaa founder Falguni Nayar (left) is now the country’s richest self-made woman billionaire

Samie Modak Mumbai
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,

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