From Zepto's Kaivalya Vohra to Kedaara Capital's Manish Kejriwal: Key Highlights from Hurun India Rich List 2023

Hurun India and 360 ONE Wealth today released the 360 ONE Wealth Hurun India Rich List 2023 on Tuesday. A notable addition to this year’s 360 Wealth Hurun India Rich List is Manish Kejriwal of Kedaara Capital, the first Indian private equity fund manager to enter the list. The youngest on the list is 20-year-old Kaivalya Vohra, who founded Zepto.

With a net worth of Rs 3,000 crore, Manish Kejriwal, the founder and managing partner of Kedaara Capital, has achieved the distinction of being the first India-based fund manager to be included in the 360 ONE Wealth Hurun India Rich List.

In the 360 ONE Wealth Hurun India Rich List 2023, the Industrial Products sector emerged as the top performer, welcoming 33 new entrepreneurs and witnessing a staggering 87 per cent increase in cumulative wealth compared to the previous year.

However, the 'funding winter' and its ripple effects led to startup founders on the 360 ONE Wealth Hurun India Rich List experiencing a collective wealth dip of Rs 85,000 crore, according to the report.

Among the IPO stars, Ramesh Kunhikannan entered the 360 ONE Wealth Hurun India Rich List 2023 with Rs 8,200 crore, driven by Kaynes Technology's strong stock market debut. The Mysore-based company surged with a 32.5 per cent premium, excelling in integrated electronics manufacturing and ESDM with end-to-end and IoT solutions

Are you wondering where these billionaires live? According to the report, Mumbai is the preferred city for India’s biggest wealth creators, followed by New Delhi and Bengaluru. Mumbai registered a net increase of 14 individuals followed by Hyderabad which registered a net increase of 23.

Industries that added the greatest number of new entrants to the list were Industrial Products, Metals and Mining and Textiles, Apparel and accessories. The Industrial Products industry saw the maximum wealth creation at 87 per cent, possibly due to the post-pandemic demand and listing gains. It added 34 new faces to the list.

The report also said that more than 85 per cent of the billionaires on the list are above the age of 50 with the majority of them, 34 per cent in the age group of 61-70. 9 per cent of the entrepreneurs are in the age group of 41-50, while 4 per cent of the list belongs to the age group of 31-40. Only 0.5 per cent of the rich on the list are below the age of 30.

This is the 12th annual ranking of the richest individuals in India. Wealth calculations are a snapshot as of August 30, 2023.