Falguni Nayar loses $1 billion in a matter of days when Nykaa’s stock plummets.
- Falguni Nayar’s fortune is falling along with Nykaa’s share prices. Her value dropped from $4.08 billion on October 12 to $3 billion on Friday (October 28).
- On October 12, Forbes listed the 59-year-old self-made richest lady in India at $4.08 billion. Nykaa’s BSE shares fell 28% in a month, from Rs 1,376 to Rs 983.55.
- FSN E-Commerce Ventures, which owns Nykaa, dropped 7% on Friday to a record low of Rs 975.50.
- The stock, which nearly quadrupled on listing day last November 10, is currently down 62% from its 52-week high at Rs 2,574.
- Before the one-year lock-in period for pre-IPO investors expires, the company has been under selling pressure and lost its star position among freshly listed tech firms.