Falguni Nayar's fortune takes a Rs 8,300 crore hit as Nykaa shares decline

If you think of buying any makeup item, then the name of Nyka will definitely come in your mind. Whether you are looking for makeup products from a big, luxury brand or budget wise, this e-commerce shopping beauty store in India can be the best for you. This has been the reason for a huge success of Nyka. The success of Nyka can be seen from the perspective that it has made its founder and CEO Falguni Nayar the richest self-made woman in India. But after coming to the stock market, the story has changed.

Often referred to as the 'makeup queen of India', Nayar net worth stood at over $4 billion (Rs 32,915 crore) earlier this month. However, now it has come down to $ 1 billion (about Rs 8,300 crore). According to Forbes' list of billionaires, this huge drop has come in just a fortnight (15 days). Her wealth as on the 12th of this month was approximately $ 4.08 billion.

Kiran Mazumdar-Shaw left behind India's richest self-made woman, 59-year-old Nayar surpassed 'biotech queen' and Biocon founder Kiran Mazumdar-Shaw (net worth Rs 24,800 crore) and featured in the IIFL Wealth Hurun India Rich List 2022 earlier this month. Became the richest self-made Indian woman.

Huge jump of 345 percent in assets

The 59-year-old Nayar wealth saw a massive jump of 345 per cent in the net worth. Due to this, she became second in terms of increasing wealth after Vedanta fashion businessman Ravi Modi. Last year, Nayar assets increased to Rs 30,000 crore and total assets stood at Rs 38,700 crore.

$1 billion wiped out from Nair's assets

Shares of Nyka or FSN E-commerce Ventures have been on a decline for the past few days and have fallen over 20 per cent in the last two weeks to hit a 52-week low of Rs 975.5 on Friday. This wiped out $1 billion from Nayar assets as her net worth was estimated at $3 billion at the end of Friday's session. The stock, which nearly doubled on the day of listing on November 10 last year, has now fallen nearly 62 per cent from its 52-week high at Rs 2,574. Moreover, IPO investors, who got the stock at the issue price of Rs 1,125, are now seeing a loss of 13 per cent.

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