Nayaka’s Falguni Nair net worth is 5 times more than Paytm’s Vijay Shekhar Sharma

According to the Forbes real-time billionaires list, Nair’s net worth is estimated to be around $5 billion. Former investment banker Falguni Nair quit her job in 2012 to start Nykaa, a retailer of beauty products.

Major investors in Nykaa include US private equity giant TPG Growth as well as billionaires Harsh Mariwala and Harry Banga. The company sells more than 1,350 beauty and personal care brands online and through its network of stores across the country.

In November last year, Nykaa hit the markets 2,018 per share, a premium of 79.37% over the issue price and its market capitalization exceeded 1 lakh crore on debut. However, the firm failed to maintain its profits and since then the stock has seen a steady decline. Shares are down more than 25% in 2022 so far (year-to-date).

Meanwhile, another tech giant and digital payments firm Paytm has seen havoc on exchanges, with the stock losing a whopping 71% since its November market debut.

Macquarie’s Suresh Ganapathy, who was the first to flag Paytm’s valuation and profitability concerns, further cut his price estimate to 450 ($5.90) 700 citing low valuations for fintech companies globally. It did not change its earnings or revenue estimates for Paytm, which it underperforms. stock went up 634.05 on Wednesday.

Due to the steep fall in the market value of Paytm, the wealth of its founder Vijay Shekhar Sharma has also been eroded. Sharma, who was once a startup icon to many in India, is just grabbing the straw in the Forbes billionaires list with a net worth of $1 billion.

The son of a schoolteacher from a small town in North India, Vijay Shekhar Sharma founded the rapidly growing mobile wallet Paytm in 2011. One of the biggest beneficiaries of India’s 2016 demonetisation, Paytm has 400 million users and 25 million transactions per day.