Harry Banga poised for 160X return on ‘angel’ Nykaa bet

• Billionaire Harindarpal Singh Banga is set to make a 160X return on his Rs 30-32 crore investment in Nykaa.
• Banga, known as Harry, was the top investor in Nykaa's first external funding round in 2014 and held an 8.6% stake at the time of its 2021 IPO.
• He has already cashed out Rs 2,000 crore from his investment, including Rs 852 crore last week.
• Nykaa's stock has surged 49% in the last six months, closing at Rs 227 on Friday.
• Banga still holds a 5% stake in Nykaa, valued at Rs 3,200 crore at current market cap.

Source: The Arc