Nykaa founder Falguni Nayar overtakes Kiran Mazumdar-Shaw to become richest self-made Indian woman: Report

New Delhi: Nykaa founder Falguni Nayar has pipped Biotechnology industry veteran Kiran Mazumdar-Shaw to become richest self-made Indian woman, as per a report.

The IIFL Wealth Hurun India Rich List 2022, published today (September 21) said that Falguni Nayar & family’s flagship company, Nykaa also grew by 345% in the last year to report a wealth of Rs 38,700 crore. 

This list refers to individuals residing or born and bred in India.

“1,103 individuals,(up by 96) across 122 cities,(up by 3) have INR 1,000 crore in the IIFL Wealth Hurun India Rich List 2022. Cumulative wealth has increased by 9.4%, while average wealth has decreased by 1%. 602 individuals saw their wealth increase or stay the same, of which 149 are new faces, whilst 415 saw their wealth drop and there were 50 dropouts. India has 221 billionaires, down 16 compared to last year,” the Hurun India report has .

Nykaa founder Falguni Nayar had entered the elite billionaire club in 2021 as the shares of the unicorn made a dream debut at Indian bourses.

The company has a diverse portfolio of beauty, personnel care and fashion products, including its owned manufactured brand products, under its two business verticals -- Nykaa and Nykaa Fashion.

Nykaa was founded in 2011 by Falguni Nayar. Since its inception, the startup has become one of the fastest-growing omnichannel marketplaces in the country. The company majorly sells women cosmetics on the platform.