Business Standard – Rishi Raj Agarwal

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.

- http://www.business-standard.com/special/bill07/bill07_02_2.htm