Nykaa appoints former Kotak Mahindra MD Dipak Gupta to board

FSN E-Commerce Ventures Limited (Nykaa) announced the appointment of Dipak Gupta as an additional independent director to its board, effective October 1, 2025. Gupta, former managing director and chief executive of Kotak Mahindra Bank Limited, will serve for a term of five consecutive years, from October 1, 2025, until September 30, 2030, pending shareholder approval. This appointment was made following a recommendation from the nomination and remuneration committee.

Gupta brings over three decades of experience in the financial services sector, having retired from Kotak Mahindra Bank in December 2023. His extensive background includes overseeing various functions and businesses, and he played a key role in establishing the retail business post-transformation of Kotak Mahindra Finance Limited into a bank. He is also a professor of practice at IIT Bombay, holding a graduate degree in electronics engineering from IIT (BHU), Varanasi, and a PGDBM from the Indian Institute of Management, Ahmedabad.

Falguni Nayar, executive chairperson, founder, and chief executive of Nykaa, emphasized that Gupta's financial services knowledge and strategic acumen would be invaluable as Nykaa scales and diversifies. Nykaa's board, effective October 1, 2025, will comprise 11 members, with independent directors making up nearly 55% of the composition.