Nykaa owner: Falguni Nayar’s family trusts hold 52.07% of parent FSN E-Commerce Ventures
Nykaa's parent FSN E-Commerce Ventures is controlled by Falguni Nayar's family through six trusts holding 52.07%. Mutual funds hold 16.72% and foreign institutions 15.65%.
Nykaa is owned by founder Falguni Nayar’s family through six family trusts that hold 52.07% of its parent, FSN E-Commerce Ventures, as of the September 2026 quarter. The rest is held by mutual funds (16.72%), foreign institutions (15.65%), retail and other investors (10.59%) and other domestic institutions (4.98%), according to Upstox’s shareholding data on 4 November 2026. 12
Who owns Nykaa? Promoter trusts
| Promoter trust | Stake |
|---|---|
| Sanjay Nayar Family Trust | 21.03% |
| Falguni Nayar Family Trust | 21.03% |
| Adwaita Nayar Family Trust | 3.44% |
| Anchit Nayar Family Trust | 3.44% |
| Anchit Nayar – Sanjay Nayar Family Trust | 1.55% |
| Adwaita Nayar – Sanjay Nayar Family Trust | 1.55% |
| Total promoter group | 52.07% |
The trusts hold the shares through trustees Falguni Nayar and Sanjay Nayar, so the couple controls the promoter stake. The percentages come from the company’s quarterly shareholding filings and the aggregated tables on Trendlyne. 134
Who founded Nykaa?
Falguni Nayar founded Nykaa in 2012, and the company’s parent was incorporated on 24 April 2012 as FSN E-Commerce Ventures Private Limited. Her husband Sanjay Nayar and their children Adwaita and Anchit are part of the promoter group. See our Nykaa company page. 56
Who else owns Nykaa?
The largest public holder in the filing is the SBI Contra Fund with 3.66%, followed by the ICICI Prudential Large and Mid Cap Fund with 1.54% and HDFC Life Insurance with 1.39%. Before the 2021 IPO, TPG Growth, Lighthouse India Fund and JM Financial were investors, and they sold part of their stakes through the offer for sale along with Sanjay Nayar Family Trust. 67
Has the Nayar family reduced its stake?
At the time of the IPO filing the family held about 53.5%, and it held 52.12% in March 2025. The stake has moved only slightly, from about 53.5% before the IPO to 52.07% in 2026. Foreign and domestic institutions have raised their shares as the company grew. 89
How much is the Nayar family’s stake worth?
Nykaa’s share price was ₹355.50 on 4 November 2026. At that price each of the two main trusts, with 602 million shares apiece, held about ₹21,400 crore of stock, and the whole promoter group about ₹53,000 crore, by our arithmetic from the filed share counts. These values move daily with the share price. 139
How much is Nykaa worth?
In the Hurun ranking of self-made companies in December 2025, Nykaa was valued at ₹67,500 crore, led by Falguni Nayar and her daughter Adwaita Nayar, who at 34 was the youngest woman entrepreneur on the list. For the wealth of India’s founders, see our guides to the richest woman in India and self-made billionaires in India. 10
What happens next
The next shareholding pattern is due after the December 2026 quarter. For other consumer companies, read who owns Swiggy and who owns DMart.
Frequently asked questions
Who is the owner of Nykaa?
Nykaa is owned by public shareholders, with founder Falguni Nayar’s family controlling 52.07% through family trusts as promoters.
Who founded Nykaa?
Falguni Nayar founded Nykaa in 2012.
What is Nykaa's shareholding pattern?
Promoters hold 52.07%, mutual funds 16.72%, foreign institutions 15.65%, retail and others 10.59% and other domestic institutions 4.98%.
Is Nykaa listed?
Yes. FSN E-Commerce Ventures, which operates Nykaa, listed on the stock exchanges in 2021.
