As news broke that Indian businesswoman Falguni Nayar had become the country’s newest self-made billionaire thanks to her brand Nykaa, there was a familiar face that could be spotted at the celebrations.
Bollywood actress Katrina Kaif attended Nykaa’s IPO listing ceremony at the National Stock Exchange in Mumbai on November 10 alongside Nayar, the managing director and CEO of the beauty company.
That’s because Kaif, who is known for starring in movies such as ‘Tiger Zinda Hai’ and the newly released ‘Sooryavanshi’, has ties to Nykaa.
Talking to NDTV, Nayar said: “We own a brand jointly with Katrina Kaif called Kay Beauty. It’s a brand that we started together and she’s been very instrumental in helping us build the brand. She’s a joint owner and also she’s conceptualised the brand and we are building it together. She’s a business partner to Nykaa and that’s how she was here today.”
Founded by former investment banker Nayar in 2012, Nykaa became popular by selling cosmetics and grooming products from India as well as international brands before expanding into fashion, pet care and household supplies.
As Nykaa made its market debut on October 10, it hit a valuation of Rs1 trillion ($13.5 billion, Dh49.3 billion) in the first five minutes of trade. This tripled Nayar’s net worth and made her the country’s newest self-made billionaire in an ongoing IPO boom.
“I hope the Nykaa journey — an Indian-born, Indian-owned and Indian-managed dream-come-true — can inspire each of you,” Nayar said at the listing ceremony.
Apart from Kaif, Bollywood actress Alia Bhatt is also an investor.