1 / 7Shares of FSN E-commerce Ventures, the parent company of Nykaa, continued to rise on Thursday, extending gains a day after the cosmetics-to-fashion platform made a strong debut on Dalal Street.
2 / 7The stake at the opening price of Rs 2,001 per share was worth over $6.5 billion.
3 / 7Listed at Rs 2,001 at the opening bell, the scrip, as against the offer price of Rs 1,125, went to touch a high of Rs 2,248.
4 / 7Nykaa's entry into the market is among the most well-received ones in recent times.
5 / 7At present, the promoter family, which includes Falguni Nayar, MD and CEO, FSN E-Commerce Ventures, Anchit Nayar, Adwaita Nayar, and the Nayar Trust, holds around 53 percent stake.
6 / 7The company aims to use these funds for expansion, setting new retail stores and warehouses. It also plans to repay its debt, which could bring down interest costs and shore profitability.
7 / 7Falguni Nayar is the Founder, Executive Chairperson, Managing Director and Chief Executive Officer of FSN E-Commerce Ventures, which owns Nykaa has over 26 years of experience in e-commerce, investment banking and broking. Prior to founding Nykaa, she was associated with Kotak Mahindra Capital Company for 18 years, where she served as the Managing Director. She has also served on the boards of various companies, including Tata Motors and Aviva Life Insurance Company India. Presently, she serves as an independent director on the boards of various companies, including Kotak Securities, ACC and Dabur India.
