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IIFL-Hurun Rich List: 14 new billionaires make the cut; led by Nykaa’s Falguni Nayar, Vedant Fashions’ Ravi Modi

IIFL-Hurun Rich List: 14 new billionaires make the cut; led by Nykaa’s Falguni Nayar, Vedant Fashions’ Ravi Modi

Chemicals and petrochemicals emerged as the highest contributor, followed by financial services and software and services.

IIFL-Hurun Rich List: 14 new billionaires make the cut; led by Nykaa’s Falguni Nayar, Vedant Fashions’ Ravi Modi  IIFL-Hurun Rich List: 14 new billionaires make the cut; led by Nykaa’s Falguni Nayar, Vedant Fashions’ Ravi Modi

The IIFL Wealth Hurun India Rich List released for 2022 has had fourteen new entrants to the Top 100. While the more prominent names like Gautam Adani and Mukesh Ambani dominate the landscape, the surge in market capitalisation has helped a host of individuals. Their dominant shareholding in these companies has now seen the value of the investment take off quite sharply. Interestingly, it includes some companies, who have listed at the bourses in the recent past. 

Nykaa’s Falguni Nayar tops the list of new entrants with a whopping 345 per cent increase in wealth at Rs 38,700 crore, followed by Vedant Fashions’ Ravi Modi at Rs 32,400 crore or a 376 per cent increase in wealth. Another company, that listed recently, is Metro Brands, promoted by Rafique Abdul Malik, where the increase in wealth has been 240 per cent placing the total figure at Rs 18,700 crore.  

Among the promoters of more traditional companies that saw a spike in wealth included Pradip Burman of Dabur India, Anu Aga of Thermax, Leena Gandhi Tewari of USV, N K Parekh of Pidilite and Aloke Lohia of Indorama. The list is spread across sectors but the presence of those in the chemicals (including pharmaceuticals) business is one of the takeaways this year. This has names such as Vivek Kumar Jain of Gujarat Fluorochemicals, Mahendra Prasad of Aristo Pharmaceuticals and Vinod Saraf of Vinati Organics. “As an industry, the biggest gainer in the list is chemicals and is followed by pharmaceuticals,” states the report.      

Speaking of those who are “New to the List”, it added 149 faces from 32 industries and 36 cities. "The chemicals and petrochemicals sector contributed the greatest number of new entrants with 20 new additions, followed by financial services (17) and software and services (12),” the report mentions. Here, the prominent names include Asian Nehal Abhay Vakil, and Vivek Abhay Vakil of Asian Paints, Alla Ayodhya Rami Reddy of Ramky Group, Kishore R Chhabria of Allied Blenders & Distillers, Madhavkrishna Singhania and Raghavpat Singhania of JK Cement.  

Also read: Gautam Adani beats Mukesh Ambani to secure the top spot in Hurun’s Richest Indian List

Also read: Falguni Nayar pips Kiran Mazumdar-Shaw to become India’s richest self-made woman: IIFL-Hurun