Nykaa promoter and chief executive officer (CEO) Falguni Nayar is India’s richest self-made woman promoter with a net worth of nearly Rs 56,600 crore or $7.7 billion, as of Wednesday.
This also makes Nayar the second wealthiest woman promoter in the country behind Savitri Jindal, chairman emeritus of O P Jindal group companies. According to Bloomberg’s billionaire list, Jindal is India’s richest woman promoter with a net worth of around $12.9 billion. FSN E-Commerce, the promoter company of Nykaa, closed on Wednesday with a market capitalization of Rs 1.043 trillion, which makes it the country’s 52nd biggest listed company. It is ahead of older and well-established firms such as Coal India, Hindalco Industries, Godrej Consumer and Bharat Petroleum Corporation, among others. Nayar, along with her family, owns 54.25 percent stake in the company that makes her one of India’s wealthiest promoters.
According to calculations by Business Standard, Nayar is now the country’s 23rd wealthiest promoter behind the promoters of Interglobe Aviation (Indigo Airlines), Rakesh Gangwal and Rahul Bhatia, but ahead of KS Dhingra of Berger Paints and Anil Rai Gupta of Havells India. Biocon’s Kiran Majumdar Shaw is now India’s second-richest self-made woman promoter with a net worth of $ 3.4 billion, on Wednesday. Overall, Mukesh Ambani of Reliance Industries remains at the top with an estimated net worth of nearly Rs 8 trillion or $107.4 billion on Wednesday. Gautam Adani of Adani group is at second spot with a net worth of $81.2 billion, followed by Rahul Bajaj’s family ($37 billion), Wipro’s Azim Premji ($35.3 billion), and Radhakishan Damani of Avenue Supermarts (DMart) with a net worth of $32.6 billion on Wednesday.
Other businessmen in the overall top 10 billionaires’ list include HCL Tech’s Shiv Nadar ($25.9 billion), Asian Paints promoter families, the Danis, Choksis and Vakils ($21.3 billion), Sajjan Jindal of JSW Steel ($15.4 billion), Sun Pharma’s Dilip Shanghvi ($15 billion) and Airtel’s Sunil Mittal ($14.7 billion). Business Standard’s calculation and ranking is based on the latest market capitalization and the promoter stake of India’s top 1,000-listed companies.
The market value of promoter stake has been adjusted for the cross-holding of listed group companies. The calculation is based on the exchange rate of Rs 74 to a US dollar. The sample companies exclude multinationals, government-owned companies, Tata group companies and financial institution-owned-and-promoted firms such as ICICI Bank, HDFC group companies and also Larsen & Toubro, among others.