Paytm stock crash: Nykaa boss Falguni Nayar now 5 times richer than Vijay Shekhar Sharma

New Delhi: Paytm share price tanked by more than 23% in the last five days after the Reserve Bank of India ordered Paytm Payments Bank to stop opening new accounts amid "material supervisory concerns" observed in the lender. With Paytm stock plummeting, the net worth of the company’s CEO Vijay Shekhar Sharma crashed so much that he was no longer a billionaire for a brief period, according to media reports. Moreover, in terms of net wealth, Nykaa founder Falguni Nayar is now five times richer than the Paytm boss. 

Nayar, who is the wealthiest Indian self-made woman billionaire, is also the latest entrant in Hurun’s Global Rich List for 2022. Her personal wealth has soared manifold in the past few years, especially after the initial public offering (IPO) of the ecommerce platform in November 2021.

According to Hurun’s Global Rich List for 2022, Nayar’s personal wealth stood at  $4.9 billion. Moreover, according to Forbes’ real-time billionaires list, she was ranked at the 556th spot. 

According to Forbes ‘The Real-Time Billionaires List’, Vijay Shekhar Sharma’s net wealth is $1 billion. On the other hand, Falguni Nayar’s personal wealth is about $5.0 billion. 

On Wednesday, March 17, Paytm share price closed at 594.25, with a fall of 6.28%. In contrast, the share price of Nykaa’s parent company FSN E-Commerce Ventures ended the day with a jump of 3.80% to Rs 1,553 on March 17, 2022. 

FSN E-Commerce Ventures is backed by several private equity firms such as TPG and Fidelity. Indian Bollywood stars such as Alia Bhatt and Katrina Kaif have also financially backed the cosmetics-focussed ecommerce brand. Also Read: Samsung launches Galaxy Book2, Book2 Business, Book Go in India; price starts at Rs 38,999

Nayar had become India's wealthiest self-made female billionaire last year after the shares of the company made a dream debut at Indian bourses. The shares had a dream debut by listing at over 79 per cent premium. Also Read: Sensex jumps over 1,000 points, Nifty breaches 17,200

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