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Rarefied Club of Billionaire Indian Women to Grow With Nykaa IPO

  • Nykaa’s initial share sale to run Oct. 28 through Nov. 1
  • Founder’s family may be worth over $3.5 billion at IPO value
Falguni Nayar in 2007.

Falguni Nayar in 2007.

Photographer: Rajkumar/The India Today Group/Getty Images

When India’s beauty retailer Nykaa opens its initial public offering to subscribers next week, it will catapult founder Falguni Nayar into India’s rarefied league of billionaire women.

The share sale will value the company at as much as $7.1 billion, giving Nayar and her family a combined net worth of about $3.5 billion if it meets the target. FSN E-Commerce Ventures, the formal entity that operates Nykaa, on Friday set a price range of 1,085-1,125 rupees a share.