M A I N   N E W S

Mukesh Ambani topples Premji as India’s
richest person

New Delhi, October 15
In a double-treat of sorts, Reliance Industries’ emergence as India’s most valued firm has also catapulted its Chairman and Managing Director Mukesh Ambani right on to the top of the country’s richest list.

After toppling state-run energy giant ONGC as India’s largest corporate house among listed entities after more than four years, RIL’s market cap has further swelled to over Rs 1,65,000 crore taking Mukesh Ambani’s net worth based on his shareholding in group companies to more than Rs 70,000 crore.

Ambani’s elevation to the top of the country’s richie-rich club has pushed Wipro’s Azim Premji to the second position with a net worth of about Rs 64,700 crore.

The younger Ambani brother Anil’s net worth has also soared after the recent record-breaking rally in the stock market. Anil Ambani maintains his position as the country’s third richest person with a net worth of over Rs 61,000 crore based on his shareholding in-group companies.

The combined market value of Mukesh Ambani group companies - RIL, Reliance Petroleum (RPL), IPCL and Reliance Industrial Infrastructure Ltd (RIIL) has soared to about Rs 2,04,000 crore.

The cumulative market capitalisation of Anil Dhirubhai Ambani Group companies - Reliance Communications, Reliance Capital, Reliance Natural Resources and Reliance Energy- currently stands at about Rs 1,08,500 crore.

While Wipro has also witnessed a sharp rally in its share price over the recent past, Azim Premji’s net worth has not risen much due to the fall in the total promoter stake in the company.

Wipro’s market capitalisation currently stands at about Rs 80,000 crore, which puts Premji’s net wealth based on his 80.94 per cent holding in the company at Rs 64,723 crore.

Promoters, including Mukesh Ambani, hold a total stake of 49.92 per cent in RIL, which is estimated to be worth about Rs 82,800 crore based on the company’s current share price.

Total promoter stake in four Mukesh Ambani group companies-RIL, RPL, IPCL and RIIL-is worth more than Rs 1,00,000 crore, excluding the 5 per cent stake held by US energy major Chevron in RPL, while that of four ADAG companies is estimated to be around Rs 68,000 crore. — PTI