Nykaa’s blockbuster debut in the Indian stock market on November 10 helped celebrity investors Alia Bhatt and Katrina Kaif reap 10X gains in their investments.
Shares of FSN E-Commerce Ventures, the parent entity of beauty startup Nykaa, hit Dalal Street on November 10. Its mega IPO was subscribed nearly 82 times. Shares surged 89.2 percent to Rs 2,129 on debut day after opening at Rs 2,018 in pre-open trade, taking the company’s value to almost $13 billion.
On November 11, shares of FSN E-Commerce Ventures closed at 2,216.25 on the Bombay Stock Exchange, up 0.43 percent from the previous close.
The bumper listing catapulted Nykaa Founder Falguni Nayar’s net worth to nearly Rs 56,600 crore, or $7.7 billion, on November 10. Nayar, who started Nykaa in 2012, owns 53.5 percent of the company. With the new wealth, Nayar joins the ranks of self-made billionaire women, according to the Bloomberg Billionaires Index.
Alia, who had invested Rs 4.95 crore in FSN E-Commerce Ventures in July 2020, saw her shareholding grow to Rs 54 crore on November 10, YourStory reported.
Katrina Kaif had invested Rs 2.04 crore to set up a joint venture called Nykaa-KK Beauty in 2018. Nykaa-KK Beauty retails the cosmetic brand Kay Beauty. Katrina’s investment soared to Rs 22 crore after close of trading on November 10.
This is not the first instance in which Bollywood celebs have reaped gains from market listings. In 2013, Amitabh Bachhan got a 46-fold return from his investment in search platform JustDial, the report said.
Apart from Nykaa, Alia has also invested in incense brand, Phool. In 2018, the Bollywood actor had picked up a minority stake in fashion-tech startup StyleCracker.
Other Bollywood actors have also invested in startups. Deepika Padukone has multiple investments in e-mobility company BluSmart, edtech platform FrontRow, beauty commerce venture Purplle and small satellite manufacturer Bellatrix Aerospace.
Also read: Bitcoin or gold? Amitabh Bachchan and Ranveer Singh are pitching crypto this festive season
Actor Kajal Aggarwal holds a 15 percent stake in gaming company Okie Gaming. Actor-turned-entrepreneur Suniel Shetty has invested in edtech venture Sai Estate Management and Skills Institute.
Cricketers like Virat Kohli, Yuvraj Singh and Shikhar Dhawan have also invested in startups.
Also read: Storyboard | Deepika Padukone to Virat Kohli: When celebrity brand endorsers turn investors
(Edited by : Shoma Bhattacharjee)
First Published: Nov 11, 2021 7:02 PM IST
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