A really cool unheard story of Nykaa and the founder Falguni Nayar!
Mr. Uday Kotak speaks of Falguni Nayar's stint at Kotak -
"We had started a consulting division in KMFL. A year after she joined us, Sanjay Nayar, her husband, who was working in Citibank, was posted to London
Like a typical Indian wife, she wanted to join him. So, we took a view - We said, 'Falguni if you go to London, we will set up a London office. We want to do sales and trading in equities and in GDRs. Why don't you set it up?
So, Falguni set up our London office. Kotak Mahindra (UK) happened because of Falguni. After two years, Sanjay was transferred to New York. We said, Great! Falguni set up New York: By then, we had already set up a JV with Goldman.
I asked her to work for 6 months at the Goldman Sachs office. Then we set up our separate office in New York. When Sanjay returned to India as Country Head, Citibank, we brought her back as Head of our equities business in India.
She headed Kotak Investment Banking, a subsidiary of KMB.
In 2012, Falguni told me, 'Uday, I am happy with what I have been doing. I have done well, but I want to do something different. I won't compete with you.
I asked, 'What are you going to do?' She said, 'I am passionate about doing something in Internet and beauty"
While Mr. Kotak was surprised, he understood her desire to create something from scratch.
That's how Falguni, investment banker, who had traversed continents working with Kotak Mahindra for nearly two decades, started her entrepreneurial venture, Nykaa - the Indian retail outlet of beauty, wellness, and fashion products.
Damn cool, Right?
From the book - How Uday Kotak built a valuable Indian Bank
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Korean car maker Hyundai Motor wants to sell around 17% of its Indian arm through an IPO.
This will be India’s biggest IPO ever!
Here are some thoughts on why this will be an important one to watch -
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The Big daddy of all Indian IPOs -
- This will be India’s biggest IPO after LIC’s Rs 21008 Cr IPO
- They are planning to raise Rs 25,000 Cr (around $3 billion) at a valuation of Rs 1.5 Lakh Cr/18 Bn $ (as per reports even 20-25 Bn $ valuation on cards)
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This IPO is the first by an automaker after over 20 years since Maruti Suzuki went public in 2003
Hyundai is the country's second-biggest carmaker after Maruti Suzuki India
With this, 4 major PV makers in India will be listed - Maruti, M&M, TaMo and now Hyundai India
Eldercare is an exciting theme playing out in India
India’s elderly population (aged 60 Yrs and above) of ~14.5 Cr people is growing - both in population size and wallet size!
A thread on the sector's attractiveness, do retweet -
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- Fastest growing age group in India – from 14 Cr (8% of the population) to 20% by 2050
- Expected demand for senior residences is expected to be 12X of current supply
- Elderly population to grow by 40% in 2021-31 v/s 8% growth for the General population
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- More than 1 Cr older adults aged 60 or over in India may have dementia (many lifestyle changes led to this)
– Significant underreporting also (cultural and societal issues)
- Memory care is also underdiagnosed and underreported – 17% of the population by some estimates
India generates ~20% of the global data but in terms of Data Center capacity, it has a share of just 3% 💾
The Indian Data Centre (DC) opportunity and stocks + a summary of around 7 Data Centre reports that I read 📚
A thread, do retweet 🧵👇
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Some Facts -
- India now has the highest DC capacity in the APAC region, surpassing major countries like Australia, Hong Kong SAR, Japan, Singapore, and Korea
- In 2023, there was an addition of 255 MW of new supply, resulting in a total stock of 1,030 MW
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- India is expected to record the highest capacity addition of 850 MW during the 2024-2026 period, higher than major APAC countries
- India generates ~20% of the global data but in terms of Data Center capacity, it has a share of just 3%
100 Years ago, life expectancy in India was 25 Yrs and in US around 50 Yrs
Today it is 70 yrs and 78 yrs respectively
Good news - We will live longer
Bad news - Folks want to retire early so the risk is not having enough income during old age!
How to combat this? A thread -
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People will retire at the age of 50-55 and then need a portfolio to help them survive for the next 20-30 years atleast
3 important things in my view
A good Sized corpus, Margin of Safety and Medical Insurance
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A Good Corpus -
- Assume you are aged 45 today
- Your yearly expenses are 10L a year (in today's value)
- You want to retire in 10 Years (Age 55)
- Assuming 7% inflation, this will double in 10 years, so you will need Rs 20L a year
- You will need Rs 3.2 Cr