Shares of beauty start-up Nykaa made a blockbuster debut on Wednesday with its market capitalization crossing Rs 1 lakh crore. Shares of FSN E-commerce Ventures, a company owned by Nykaa brand, opened for trading on the National Stock Exchange at Rs 2,018, up 79 per cent from its issue price of Rs 1,125 per share and up 99 per cent. Intraday high reached Rs 2,235 on NSE.
Falguni Nair, founder of the beauty start-up after its successful listing in the stock exchanges, told NDTV that Nykaa has in many ways built the beauty industry in the country.
Falguni Nair told NDTV, “When I started beauty in 2012 in Asia, America and Europe, the beauty business was huge and the beauty business was not growing in India because of the geographical and ethnically diverse country. It was difficult to meet the needs.”
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