Nykaa, India’s first unicorn e-retail label has been making noises both in beauty as well as the stock market making its founder Falguni Nayar nation’s seventh female and self-made billionaire.
Recently, the e-retail brand applied for an Initial Public Offering (IPO) and needless to say, the response was overwhelming. As reported by a leading daily, Nykaa’s shares were listed at 2,018 with around 80 percent premium on Wednesday morning. According to Bloomberg, the market cap of the e-retailer recorded a valuation of 1 trillion rupees in the first five minutes of trade. Almost an hour and a half later, Nykaa was standing tall alongside major market players such as Britannia, Godrej, and IndiGo. Even after selling 4.8 million shares via the IPO, she continues to own more than half of the company, valuing her stake at $7 billion. Not just this, the e-retailer’s 3-day IPO was oversubscribed by nearly 82 times last week.
Now, what does this mean for the brand’s celebrity investors Katrina Kaif and Alia Bhatt? Needless to say, the B-town divas earned big bucks from this profitable investment made a couple of years prior to the e-commerce brand's NSE listing. Katrina launched her makeup brand Kay Beauty on Nykaa and invested another small amount post the successful growth of her beauty line. The actress invested a small amount of 2.02 crores back in 2018. Following the footsteps of her BFF, Alia Bhatt too, invested a generous amount of 4.95 crores back in July 2020 however she hasn’t come up with any brand yet.
Now, both these divas have reaped the fruits, 10 times to what they have sowed. Yes, their investment valuation doubled 10x allowing these investor-actresses to add a few more crores to their net worth. While Kat’s investment shot to Rs. 22 crores on Wednesday's market closing, Alia earned a whopping Rs 54 crore in this deal.
Boom turned boon indeed!
(Source- GQ India)
