Not only did recently-public companies like Cello World, Stanley Lifestyles, TBO TEK debuted well on the bourses, their chiefs made bumper listings themselves – on the Hurun Rich List. These recent IPOs created a new brand of stars on the list.
Cello World’s Pradeep and Pankaj Ghisulal Rathod, Stanley Lifestyles' Sunil Suresh & family, TBO TEK’s Gaurav Bhatnagar and Ankush Nijhawan’s fortunes from the listings propelled them into the list of India’s richest.
HURUN RICH LIST: THE IPO STARS
Juniper Hotels’ Amit Saraf & family, 51, made their debut on the list with a wealth of Rs 3,600 crore. Their wealth has been attributed to the successful IPO of the company that specialises in developing and owning luxury hotels in India.
Stationery maker Cello World’s promoters Pradeep Ghisulal Rathod, 57, and Pankaj Ghisulal Rathod, 57, boast a net worth of Rs 9,700 crore and Rs 6,800 crore respectively. The company debuted on the exchanges with a 28 per cent premium.
Promoters of manufacturer and exporter of steel wires, Bansal Wire that saw its shares rise by 39 per cent on its debut, also made to the list. Arun Kumar Gupta and family, 66, have joined the rich list with a wealth of Rs 1,500 crore.
Furniture manufacturing, retail, and export company Stanley Lifestyles’ IPO debut propelled Sunil Suresh & family, 58, onto the list, with a wealth of Rs 2,200 crore. The company had debuted with a 34 per cent premium over the issue price of Rs 369 per share.
Global travel distribution platform TBO TEK, whose IPO was oversubscribed by 90 times, played a significant role in propelling Gaurav Bhatnagar, 45, and Ankush Nijhawan, 46, on to the rich list. Bhatnagar has wealth of Rs 3,800 crore and Nijhawan of Rs 2,400 crore.
Piping solutions company for oil and gas, power, and chemicals, DEE Development Engineers, saw its stock debut with a 67 per cent premium over the IPO price. This led Krishan Lalit Bansal & family, 69, to debut on the rich list with wealth of Rs 1,700 crore.
Power management solutions provider Exicom Tele-Systems’ Anant Nahata & family, 40, have wealth of Rs 3,400 crore, due to the listing of its shares at an impressive 86.6 per cent premium.