Falguni Nayar, the online retailer founder and CEO, said the two companies would together build a multi-brand beauty retail business with Nykaa holding a 55% stake of the entity.
Nayar joined the rarefied ranks of self-made billionaire women this week as Nykaa went public and saw shares rise 96% on its first day of trading. Nayar's wealth is now almost $7 bn.
The sale received bids for 34.7 million shares against 26.5 million offered. Anchor investors bid 60 times more than the shares on offer for their category.
Nayar, a former investment banker, owns about half of the company with her husband and children. If the Nykaa IPO goes as planned, the value of their stake could exceed $2 bn.
Indians see West Asia as one uninterrupted wash of Islam, but the reality is more complex. For the Druze, support from Israel—where they are a recognised minority—is now critical.
Mini deal will likely see no cut in 10% baseline tariff on Indian exports announced by Trump on 2 April, it is learnt, but additional 26% tariffs are set to be reduced.
India-Russia JV is also racing to deliver 7,000 more AK-203 assault rifles by 15 Aug. These are currently being made with 50% indigenisation and this will surge to 100% by 31 December.
Public, loud, upfront, filled with impropriety and high praise sometimes laced with insults. This is what we call Trumplomacy. But the larger objective is the same: American supremacy.
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