(Bloomberg) – When Indian beauty retailer Nykaa opens its initial public offering to subscribers next week, it will catapult founder Falguni Nayar into the rarefied league of Indian women billionaires.

Selling the shares will value the company up to $ 7.1 billion, giving Nayar and her family a combined net worth of around $ 3.5 billion if she hits the target. FSN E-Commerce Ventures, the formal entity that operates Nykaa, on Friday set a price range of Rs 1,085 to Rs 1,125 per share.

Nayar’s Falguni Nayar Family Trust, the family’s Sanjay Nayar Family Trust and seven other related entities hold around half of the company’s shares, whose shares are expected to start trading on November 11. fertile ground for a series of successful announcements.

Savitri Jindal – who along with her sons controls the OP Jindal group – is the only Indian woman on the Bloomberg Billionaires Index, a ranking of the world’s 500 richest people. His net worth of $ 13.3 billion ranks No.10 in the country. There are three other women worth at least $ 2.5 billion, according to Bloomberg.

When Nykaa, backed by TPG and Steadview Capital, will be the first female-led Indian unicorn to debut in public markets.

Nayar, a former investment banker who helped bring a flow of Indian companies to the public market in this role, founded the beauty retailer in 2012, just months before her 50th birthday. The Mumbai-based company offers more than 2,500 makeup brands – everything from foundation and sheet masks, silky Indian kohl eyeliner and traditional body art called mehendi.

Its website, app and some 70 physical stores combined to give the company revenues of 24.5 billion rupees ($ 330 million) in the fiscal year ended in March, according to the filing of the company. The startup is profitable.

The sale of Nykaa shares opens for public subscription on Thursday and will close on November 1. Principal investors can place bids one day before the opening of the public sale. BofA Securities India Ltd., Morgan Stanley, Kotak Mahindra Capital Co. are among the bankers for sale.