Sun Pharma Dilip Shanghvi is richest Indian |
Dilip Shanghvi , the 59-year-old Promoter of Sun Pharma, may have overtaken Mukesh Ambani of Reliance Industries Ltd as the richest Indian if one reckons the promoter holdings in the listed companies of the two groups. On February 19, 2015, at the close of trading on India`s stock exchange, BSE, the Gujarat-born and Kolkata-educated Shanghvi, by virtue of his over 63% holding in three group companies — Sun Pharma, Advanced Research and Ranbaxy Labs — is worth about Rs 146,000 crore or US $23.42 billion. In comparison, Ambani, through his 45% holdings in two group companies — RIL and Reliance Industrial Infrastructure — was worth Rs 132,000 crore or US $21.2 billion. If one adds the 23% stake in wind energy major Suzlon, that Shanghvi and his family is in the process of acquiring, his wealth would be higher at nearly Rs 148,000 crore or US $23.7 billion. Bloomberg`s Billionaire Index still ranks the RIL boss as the richest Indian and 33rd globally with a net worth of $21.9 billion, and Sanghvi as the second richest Indian and 39th globally at $19.7 billion. In the last one year the Sun Pharma stock has gained 50% to become the most valued pharmaceuticals company in India and one of the top five in the world. As a result Shanghvi, who started the company in 1982 with a seed capital of Rs 10,000, has become the richest drug maker in the world. His fortunes were also boosted by his acquisition of Ranbaxy Labs from its Japanese owners and sharp gains in Sun Pharma Advanced Research, the group drug R&D arm that was hived off as a separate company from the group`s flagship a few years ago.
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