The issue
finally hit the market almost a year after its original schedule. The book
building pegged the price in the range of Rs 525-550 a share and the final
offer price was fixed at Rs 525. On July 5, DLF was listed at Rs 582, but
quickly slipped below the issue price. After testing the level of Rs 550-600
for almost two months, the stock touched an all-time high of Rs 989 on October
31.
Sunil
Mittal, the promoter of Bharti Airtel, is at number four with a net worth of Rs
73,429 crore.
Kushal Pal
Singh
The rising
rupee has made sure that this is not the best of times to be an IT Czar. Wipro
Chairman Azim Premji, who ceded the throne of the richest Indian last year, is
down to fifth this time as his net worth declined by almost Rs 5,000 crore –
the only one in the top five to see an erosion.
The more
absorbing sub-plots involve the lesser-known billionaires. When Sudip Dutta
first came to Mumbai at the age of 17, he joined a company that made pouches to
package medicines, at a salary of Rs 15 a day. He packed medicines, loaded them
on trucks and was also the delivery boy. He wouldn’t go home for weeks and
slept in the factory. At 35, Dutta and family are worth Rs 847 crore, thanks to
their 64.61 per cent equity holding in newly-listed Ess Dee Aluminium.
Wadhawan’s
realty firm HDIL has accumulated wealth on the foundation of its involvement in
slum rehabilitation projects. A commerce graduate from Mumbai University, he
has 30 years of experience in real estate and infrastructure, and a net worth
of Rs 8,843 crore.
Motilal
Oswal & Raamdeo Agarwal, the two equal partners in Motilal Oswal Financial
Services, are at number eight with a net worth of Rs 2,378 crore as on August
31, 2007. Pujit Aggarwal & Family, promoters of Orbit Corporation, occupy
the ninth position among IPO billionaires.
Sterling
post-listing performances have caused the net worth of 13 IPO billionaires to
more than double. In fact, three of the 46 joined the rich list after listing.
The net worth of P Kishore and associates of Everonn Systems rose 355 per cent
from Rs 60.36 crore to Rs 275 crore. Rishi Raj Agarwal of Gremac Infrastructure
saw his post-listing net worth rise from Rs 70.13 crore to Rs 259 crore. The
net worth of Dhilin H Mehta of Shree Ashtavinayak Cine Vision rose from Rs
77.91 crore to Rs 183 crore after the stock’s listing.
As many as
87 entered the list on the strength of the rise in the stock price of their
companies over the last one year. They saw their net worth increase by 164 per
cent compared with an average of 54 per cent for the entire list.
Founded in
1991, Temptation Foods was a loss-ridden company till last year. Although listed
in 1993, its trading was suspended till February this year for violating the
listing norms. In October 2004, the balance sheet was restructured and a
settlement with financial institutions hammered out. By March 2006, it was free
of debt – it still is.
KUSHAL PAL
SINGH of DLF, who made a grand entry into the club with a net worth of Rs
90,821 crore after listing, led the charge of the real estate brigade
Sunil
Mittal
Even after
an increase in wealth of over 100 per cent to Rs 73,429 crore, SUNIL MITTAL has
fallen from number THREE in the list to number FOUR
Azim Premji
AZIM PREMJI
has been the most prominent loser this year, with his net worth shrinking by 10
per cent (Rs 5,100 crore), to Rs 54,460 crore. His position has slipped from
number TWO to number FIVE
In February
this year, Temptation got listed again at the last traded price of Rs 1.45 a
share. By April 25, the price rose to Rs 78 a share. On November 5, its closing
price was Rs 230 a share, pegging its market capitalisation at Rs 578 crore.
