Falguni Nayar of Nykaa surpasses Kiran Mazumdar-Shaw to become India’s richest self-made Woman
Falguni Nayar, the CEO and founder of Nykaa, is now the richest self-made woman in India. The IIFL Wealth Hurun India Rich List 2022 states that she has surpassed Biocon CEO Kiran Mazumdar-Shaw in net worth. Falguni Nayar and family, whose e-commerce company Nykaa made a stellar debut on the stock exchanges a year ago by listing at a 79% premium, saw their wealth soar 345 percent to Rs 38,700 crore, making them the second-biggest gainers on the list. On the entire list, Nayar came in at number 33. With a fortune of Rs 24,800 crore, Biocon’s Shaw was ranked 67th on the list.
Rekha Rakesh Jhunjhunwala and her family, who were ranked 34th with a net worth of Rs 37,200 crore, Radha Vembu of Zoho Corp., who was ranked 50th with a fortune of Rs 30,500 crore, and Anu Aga and her family, who were ranked 82nd with a net worth of Rs 19,700 crore, were other notable women in the top 100.
The fact that 67% of the list is self-made, up from 54% five years ago, is what truly inspires me about the Indian wealth creation story. According to Anas Rahman Junaid, MD and Chief Researcher, Hurun India, 79% of the new faces this year are also self-made. He continued, “First-generation business owners and professional managers are creating wealth at a rapid clip and are a key factor in India’s GDP quickly crossing the $5 trillion threshold.”
Hurun India added that the list has evolved to be more “inclusive,” with 55 women on it this year compared to 13 a decade ago. With the increase in self-made entrepreneurs and the number of women entrepreneurs, it is exciting to see how much the Indian entrepreneurial ecosystem has contributed to this list, according to Yatin Shah who is the co-founder and joint CEO of IIFL Wealth.
A Synopsis of Falguni Nayar
Nayar, born and raised in Mumbai, Maharashtra, comes from a Gujarati family. With the help of her mother, her businessman father managed a small bearings company. She holds a graduate degree in business and economics from Sydenham College and postgraduate degrees in management from the Indian Institute of Management Ahmedabad.
Nayar spent 19 years with the Kotak Mahindra Group, joining it in 1993. She was appointed as managing director in 2005 and left her position in 2012.
At the age of 50, Falguni launched Nykaa in April 2012, with $2 million of her own funds. By 2021, Nykaa’s value had increased to $2.3 billion, bringing Nayar’s net worth to an estimated $1.1 billion. Nykaa went public on November 10, 2021, with a $13 billion valuation. Soon after Nykaa went public, Nayar’s net worth grew to $6.5 billion, making her the richest woman in India and catapulting her into the top 20 richest Indians.
In 1987, she got married to Sanjay Nayar. They both met at a business school. Her husband serves as the CEO of Kohlberg Kravis Roberts India. AdwaitaNayar and AnchitNayar are her two children.
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