When Nykaa co-founder made Mohnish Pabrai buy Kotak Mahindra Bank stock

NEW DELHI: Great salespersons are some of the biggest assets for any consumer-facing company. They not just deliver top line growth but also help build a brand image of the company.

A glimpse of this in action can be seen in an anecdote shared by value investor Mohnish Pabrai, whose current portfolio is valued at Rs 1,325 crore and includes names like Edelweiss Financial, Sunteck Realty and Rain Industries.

Pabrai, in a tweet on Tuesday, said in 1994 when he first invested in the Indian equity market, an impressive experience at Kotak Securities compelled him to buy the shares of Kotak Mahindra Bank. And the reason was co-founder Falguni Nayar who worked at the firm at that time.

“In 1994 when I first invested in the Indian equity markets, it was @falguninayar in @kotaksecurities London office who helped me open an NRE brokerage account with them. @falguninayar and her team were so impressive that I added a 4th stock - Kotak,” Pabrai tweeted. He also congratulated Nayar on the successful listing of her company on the bourses.
Nayar’s FSN E-commerce Ventures got listed last week with much fanfare. After an impressive listing gain, the stock continued to gain in the following sessions though an underwhelming September quarter numbers dented some of the enthusiasm.

The listing of the company also catapulted Nayar into one of the richest women entrepreneurs in India. The stake of her and her family is valued at Rs 57,000 crore.