Falguni Nayar has joined the rarefied ranks of self-made billionaire women after the Indian beauty start-up she founded went public and quickly doubled in her business debut. Now she’s encouraging more women to take control.
Ms Nayar heads Indian firm FSN E-Commerce Ventures, which raised 53.5 billion Indian rupees ($ 720 million) in its initial public offering on November 10 and saw shares rise 96% on the first day of trading. negotiation.
That makes Ms. Nayar, who owns about half of the company, worth nearly $ 7 billion, and India’s richest self-made billionaire woman, according to the Bloomberg Billionaires Index.
âWomen need to allow the spotlight of their lives to be on themselves,â Ms. Nayar said in an interview after her start in trading. “I hope more women like me dare to dream for themselves.”
Nayar founded his company, which runs e-commerce site Nykaa, in 2012 after working in investment banking and guiding other entrepreneurs through the IPO process.
At the time, most Indian women bought makeup and hair care products in the neighborhood’s “mom-and-pop” stores, where selection was scarce and trials unpublished. She saw an opportunity by giving customers easy online access to premium beauty items, complete with tutorials and testimonials.
âIndia is going to be a huge retail market,â Ms. Nayar said. âIndians will aspire to more, their purchasing power will increase and they will spend more and more on lifestyle brands and services. Nykaa is well placed.
The start-up has since grown into the nation’s leading beauty retailer, driving online sales with demo videos of glamorous Bollywood actors and celebrities, and more than 70 physical stores.
Nykaa, derived from the Sanskrit word for heroine, sells items such as exfoliating creams, essential bridal makeup products, and hundreds of shades of lipstick, foundation and nail colors for her. adapt to Indian skin tones, skin types and local weather.
Ms Nayar said there are many more opportunities to come. In the country of 1.3 billion people, men are also starting to spend on make-up and skin care products.
âWe have built the business for multi-year growth to meet a very large beauty and fashion e-commerce market in India,â she said.
While she is clearly pleased with the strong debut of the IPO, Ms Nayar said she was optimistic about the precise impact on her net worth.
âThe size of the award doesn’t really matter,â she said. âGetting rewarded for doing what I love to do is key. The stock price is the bonus.
Austrian billionaire Dietrich Mateschitz gets a one-off payment of 680.5 million euros ($ 762 million) after his Red Bull energy drink empire has grown steadily despite the pandemic hitting the global economy.
Red Bull GmbH, the holding company overseeing sales of the canned caffeine beverage, achieved net sales of 6.3 billion euros in 2020, 4% more than a year earlier , according to the group’s annual report published in the Austrian company register.
Sales grew more than 12% in the United States and 3.4% in Europe, compared to lower revenues in the rest of the world. The company has also saved on marketing costs as the pandemic has hit some of the sporting events it sponsors.
This generated net income of 1.18 billion euros, an increase of 29% compared to 2019.
Red Bull pays half of the year’s distributable profit plus â¬ 500 million in retained earnings to Mr Mateschitz and his co-shareholders, the Thai Yoovidhya family, which controls 51% of the company, according to an attached shareholders resolution at the annual meeting report.
Mr Mateschitz receives an additional dividend of 165 million euros on top of his prorated amount, according to the resolution, which gives no reason for the different treatment. Chalerm Yoovidhya also receives an additional 3.2 million euros.
The increase in retained earnings will bring Red Bull’s total dividend to more than double the amount paid to shareholders last year.
Reliance Industries, which runs one of India’s largest treasury operations, has embarked on a spree to buy local five-year bonds just weeks before a crucial central bank policy meeting, people say knowing the subject.
The company, controlled by Asia’s richest man Mukesh Ambani, bought around $ 270 million in government bonds from a single state bank, according to one of the people, others adding that the total purchases may have exceeded $ 1 billion in the past few days. based on brokerage orders and trade transactions reported on the central bank platform. People have requested not to be identified as the details are private.
Reliance buys exploded in Mumbai trading rooms, helping the five-year sovereign bond outperform as banks and brokerage houses sought to fill orders. They could reflect a company attempt to find the safest part of the yield curve as expectations grow that the Reserve Bank of India will tighten monetary policy soon.
A spokesperson for Reliance Industries did not immediately respond to an email request for comment.
The company, which was buying a mix of sovereign and local debt maturing in 2026, bought debt on the central bank’s trading platform as well as through direct deals with holders, the companies said. residents.
Reliance had cash and equivalent assets worth Rs 2.6 trillion as of September 2021, according to its financial presentation. Last year, Reliance took a similar bet on corporate bonds of the same maturity.
The purchases precede an RBI meeting on December 8, which will be closely watched by investors to see what steps the central bank is taking to normalize pandemic-era policy settings after suspending bond purchases last month.
IDFC Asset Management said last month it was “heavily overweight” to maturities of around five years, expecting it to be less affected by rate hikes.
Billionaire Anil Agarwal’s Vedanta has said he intends to streamline its structure and is considering options, including separate listing of its aluminum, iron and steel, and oil and gas units.
The latest restructuring plan for the Mumbai-listed commodities major comes a year after Mr. Agarwal’s failed efforts to privatize the company. Increased control of the cash-rich company would help the billionaire reduce the debt of his holding group.
The restructuring is aimed at unlocking value for all stakeholders and could include options such as splits, splits and strategic partnerships, Vedanta said in an exchange brief, adding that the board has formed a committee to evaluate the plan. He did not give a timeline for the proposed restructuring.
The reshuffle will allow the units to benefit from “tailor-made capital allocation and strategic flexibility to drive long-term growth,” Agarwal said. The move will also speed up the company’s plans to cut emissions, he said.
âThe structure of the Vedanta group has always been viewed as complex and simplification will certainly be a positive,â said Prashanth Kumar, analyst at Dolat Capital Market.
âCurrently, many funds may not like investing in Vedanta because the aluminum company’s carbon footprint is higher. Having separate entities can attract a growing range of investors to their other businesses. “
The company’s shares have more than tripled in the past year as commodity prices have rallied and demand for metals has exploded globally.
Updated: November 28, 2021, 5:09 am