For its Mumbai International Airport Ltd. (MIAL), Adani Airports Holdings Limited (AAHL) was able to obtain $1 billion in funding through a project finance framework.
AAHL is the biggest private airport operator in India and a fully owned subsidiary of Adani Enterprises Ltd. Adani Airport Holdings is the parent company of MIAL.
According to the statement, a group of long-term backers and affiliates of Apollo-managed funds contributed $750 million to Mumbai International Airport Ltd. Adani claims that the $750 million notes that mature in July 2029 will be issued as part of the deal and used for refinancing.
A provision to raise an extra $250 million is also included in the financing structure, making a total of $1 billion in funding possible. According to reports, this is the first private bond offering in the airport infrastructure sector in India to receive an investment-grade (IG) rating.
Apollo-Managed Funds Lead the Round
The deal, which was spearheaded by Apollo-managed funds and involved a syndicate of top institutional investors and insurance firms, including Standard Chartered and BlackRock-managed funds, demonstrated international trust in India’s infrastructure potential and Adani Airports’ operational framework.
The notes are anticipated to be rated BBB-/stable, supported by MIAL’s steady cash flows and asset base, as well as its operational efficiency. By continuing to invest in modernisation, capacity growth, digitalisation, and technology integration, AAHL is steadfast in its long-term goal of revolutionising the airport’s infrastructure.
Additionally, by accelerating its sustainability programme, the deal will help MIAL reach its 2029 net-zero emissions target. This issue comes after AAHL received $750 million in funding from a group of international banks.
This most recent deal is further evidence of Adani’s capacity to draw top-tier investors to India’s next-generation infrastructure platform and its access to diverse international finance markets.
Investors Showing Great Confidence in AAHL-Bansal
According to Arun Bansal, CEO of Adani Airports Holdings Ltd., this successful issue demonstrates the resilience of Mumbai International Airport’s foundation, the robustness of Adani Airports’ operating platform, and AAHL’s dedication to sustainable infrastructure development.
He went on to say that the company is pleased to expand its access to international capital pools with the help of Apollo-managed funds and top institutional investors. AAHL’s ability to get one of the biggest private investment-grade project finance issuances, he added, shows its dedication to long-term value development, capital efficiency, and financial discipline.
The investors were advised by Milbank LLP and Khaitan & Co., while MIAL was represented by A&O, Shearman, and Cyril Amarchand Mangaldas. In addition to managing the Navi Mumbai International Airport, a strategically placed project on the outskirts of Mumbai that is soon to open, Adani Airport Holdings already runs eight airports around India.
One of the most merciless days for India’s capital markets in almost a year turned out to be April 7. The BSE Sensex plummeted 2,227 points to hit 73,137.90, and the Nifty fell 742.85 points to end at 22,161.60. Both indices shed nearly 3% around closing time. Investors are clearly worried that the intense global trade conflict between the U.S. and its trading partners could trigger a worldwide economic slowdown.
Ambani, Adani See Fortunes Shrink in Hours
Mukesh Ambani, the richest man in India and chairman of Reliance Industries, saw his net worth drop to $88.4 billion after losing a staggering $2.9 billion in one day. He lost it when the company shares sank, along with a number of others, in what appeared to be a broadly based selling job. The steepest drops among Reliance properties seemed to have occurred in the energy sector, but the company’s telecom-related holdings probably also played a part.
Right behind him, Adani Group chairman Gautam Adani saw his wealth take a hit to the tune of $2.8 billion, which brings his net worth down to $57.6 billion. Shares of several of Adani’s companies, including Adani Enterprises and Adani Ports, were among the worst hit on Dalal Street.
Not only do their losses show the market’s close in deep red, but they also reveal investors’ fears about being highly exposed to sectors like infrastructure, energy, and international trade.
Wealth Erosion Across India’s Billionaire Club
Although Ambani and Adani triggered the decline, other Indian billionaires also had their fortunes take a hit. Savitri Jindal lost $2.3 billion, Kushal Pal Singh saw a decline of $988 million, and Shiv Nadar saw a fall of $902 million. Altogether, the total wealth that has been wiped out from the top five Indian billionaires stands at $9.89 billion, according to the Forbes Real Time Billionaires index.
The major part of the Sensex closed lower, but they managed to escape only Hindustan Unilever, which closed higher. Laggards included name brand stocks we often discuss here, such as Tata Steel, Infosys, and Kotak Mahindra Bank, along with HCL Technologies. Together, those stocks account for a huge sum of money, part of what’s called the “breadth” of the stock market. And the “breadth” is that part of the stock market that was selling off yesterday.
Uncertainty Looms, but Fundamentals Remain Intact
Even though there was a selloff prompted by panic, the analysts keep urging calm. They insist India’s trade with the US, which constitutes a mere 2% of GDP, could keep the country insulated from the worst of the global tariff storm.
While known for their long-term plays, Mukesh Ambani and Gautam Adani may suffer reductions in fortune due to recent events. Yet, the foundations of their businesses seem solid. Still, if international instability persists, valuations across the spectrum, including those of India’s richest businessmen, could take another hit.
Adani Green Energy Ltd. (AGEL), in order to build the largest solar-wind hybrid renewable cluster in India in Rajasthan, said it had successfully refinanced its first construction facility with an outstanding balance of USD 1.06 billion from 2021. The biggest renewable energy provider in India, AGEL, revealed this development on 3 March, stating that it has reached yet another significant milestone in its Capital Management Journey. Additionally, the long-term financing obtained to refinance its construction facility includes a 19-year door-to-door tenor and a fully amortised debt structure that mimics the life of the underlying assets. This innovation marks the effective completion of AGEL’s capital management program for the underlying asset portfolio, which entails obtaining long-term facilities that are precisely in line with the portfolio’s cash flow lifecycle.
How Refinancing is Expected to Improve Company’s Portfolio?
The new refinance plan has a fully paid-off debt structure that is tailored to the underlying asset’s lifespan and a 19-year door-to-door tenor. The facility has received an AA+/Stable rating from three domestic rating agencies: ICRA, India Ratings, and CareEdge Ratings. AGEL’s capital management program for the underlying asset portfolio, which seeks to obtain long-term facilities in line with the cash flow lifetime of the portfolio, is now complete thanks to this refinance. According to the corporation, this strategy secures substantial sums of money over an extended period of time and offers advantages through access to a variety of capital pools. With a goal of reaching 50 GW by 2030, AGEL now manages a 12.2 GW renewable portfolio spread across 12 Indian states. In Khavda, Gujarat, the business is building what it claims is the largest renewable energy plant in the world, covering 538 square km. In order to strengthen AGEL’s financial stability as it pursues its growth trajectory in the renewable energy industry, the refinance is a calculated decision.
The Instability Surrounding Adani Green’s Bond
Following the arrest of senior officials, including Chairman Gautam Adani, by the US Department of Justice (DOJ) on suspected bribery allegations, Adani Green had previously cancelled its planned $600 million bond issue in November 2024. Adani and others were charged by the DOJ with arranging payments to Indian government representatives in order to obtain contracts for solar energy. Shortly after pricing, the bond issuance was terminated due to growing legal and regulatory issues. Adani Green withdrew its bond offering for the second time in as many months; the first effort was cancelled because of adverse market circumstances. The group’s US dollar bonds saw a sharp decline as a result of the accusations, indicating market apprehension over governance and regulatory risks. The Adani Group responded to the charges by denying the accusations, calling them baseless, and promising to pursue all available legal options. The group reaffirmed its dedication to upholding strict governance, transparency, and regulatory compliance requirements in every jurisdiction.
The US authorities in the bribery investigation have not accused Adani Group chairman Gautam Adani of corruption, the company announced on 27 November, but he is facing three other charges, including wire fraud and securities.
Adani, his nephew, and a number of other people were indicted by a US court a week ago for allegedly offering INR 2,029 crore in bribes to Indian state government officials in order to obtain solar power contracts between 2020 and 2024. Given the series of events, there are now concerns regarding the US’s future course of action, Adani’s alternatives, and potential consequences for the ports-to-energy conglomerate.
When executives’ firms conduct business in the United States, the legislation permits prosecutors to charge them with international bribery. Additionally, the law grants sweeping jurisdiction over transactions that occur through financial institutions in the United States. Additionally, the authorities claimed that Adani misled American investors by concealing the purported bribery. These allegations were made by the US Securities and Exchange Commission (SEC) against the Adani Group.
What is Anticipated to Happen Next? | The Adani Bribery Case
The investigation into the case has only just begun. An arraignment, where the accused is formally charged and requested to enter a plea, usually follows the issuance of an indictment. Pre-trial motions and discovery, in which the defense and the prosecution exchange evidence, may come next. A jury will hear the evidence and determine whether or not the defendants are convicted if the matter moves forward to the trial stage. Furthermore, in the event that any of the accused are abroad, such as in India, the US government may seek extradition.
The extradition process will be handled by an Indian court, which will have to take into account a number of considerations, including whether the US offense is a crime that can be prosecuted in India, whether the charges are politically motivated, and whether he would be subjected to cruel treatment in the US.
What Alternatives Does Adani Have Going Forward? | The Adani Bribery Case
Adani and his colleagues listed in the indictment have a number of legal options at their disposal to protect themselves. They can try to refute the evidence or contend that the facts do not support the claims of securities fraud and bribery.
The accused and US authorities may be able to come to a plea agreement. Pleading guilty to specific crimes in exchange for shorter sentences or other concessions may be the terms of a plea agreement. The accused may challenge extradition if they are not in the US, particularly if they argue that the alleged offences are not crimes in both India and the US (the dual criminality principle).
Adani’s attorneys are limited to contesting the indictment on procedural grounds, such as asserting that US prosecutors lack the jurisdiction to accuse him until Adani appears in the US court. Following Adani’s court appearance, his attorneys may contest the indictment’s main points by saying that certain claims are either factually incorrect or legally flawed.
Prosecutors point to a lengthy paper trail of cell phone and messaging app records, as well as in-person meetings with Indian authorities, as proof of the alleged offenses mentioned in the indictment.
For Which Provisions of the FCPA are the Defendants Accused of Violating?
In order to secure or maintain business, US corporations, individuals, and international organisations listed on US stock markets are prohibited from bribing foreign government officials under the Foreign Corrupt Practices Act (FCPA). There are two main provisions under the FCPA:
The anti-bribery clause forbids giving, funding, or approving the funding of bribes to foreign officials in order to sway commercial decisions.
In order to prevent bribery, accounting provisions mandate that businesses keep accurate books and records and put internal controls in place.
The Adani Group and its executives are accused of breaking these rules in this case by bribing Indian government representatives in order to get power purchase agreements (PPAs) for solar power projects.
Gautam Adani might spend decades behind bars if found guilty of the claimed allegations. Depending on the court presiding over the case, he may also be subject to monetary fines and any sentence, the agency said. According to the source, Adani may appeal a decision against him in the US, where a 12-person jury would need to vote unanimously to find him guilty.
Even if Adani is extradited or surrendered in the United States, he may still face a lengthy trial. His attorneys would have the right to dispute the admission of evidence and other legal issues prior to the start of a trial, much as the attorneys for his seven co-defendants, who could want separate trials. According to the news agency, Adani is entitled to a speedy trial under US law within 70 days, but he would probably forego that right to give his attorneys more time to contest the charges.
What Impact Does the US SEC’s Complaint Have on the Accusations Made Against Executives of the Adani Group?
The complaint from the US Securities and Exchange Commission (SEC) identifies a number of infractions that bolster the case against the management of the Adani Group.
According to the SEC’s accusations, executives of the Adani Group deceived investors about the company’s compliance with anti-bribery regulations in order to obtain substantial investments.
The SEC’s lawsuit highlights the ways in which US investors who bought bonds on thebasis of inaccurate information were impacted by the false representations on anti-corruption procedures. Everything about this case gets more complicated because of this.
The Adani bribery case involves allegations that the Adani Group offered bribes to secure energy contracts by misleading investors, with charges filed by the U.S. SEC for violations of anti-corruption laws.
What is the anti-bribery policy of Adani?
Adani Group’s anti-bribery policy ensures compliance with laws, promoting ethical practices and transparency while preventing corruption.
What is the charge against Adani?
The Adani Group faces charges of bribery and corruption for allegedly paying bribes to secure contracts and misleading investors, violating anti-corruption laws
The Adani group is an Indian multinational conglomerate with a revenue of about $37 billion from FY2024. The company is headquartered in Ahmedabad, Gujarat, India. Adani is a leading global integrated infrastructure player that includes diverse businesses like coal trading, coal mining, ports, power generation, multi-model logistics, renewables, gas distribution, and transmission. The Adani has always been known for its growth and vision for building the nation.
It is the largest port developer and operator in India with Mundra being the country’s largest commercial port. Having multiple ports, branches, manufacturing units, and corporate offices at various locations, Adani Group is one of the largest business units. In all this business group has around 36,000 plus employees with more than 900 third-party contractors involved in incorporating various work orders across 25 plus business units.
In April 2014, it added the fourth unit of 660 megawatts at its Tiroda Thermal Power Station, making Adani Power India’s largest power producer. In 2015, Adani was ranked India’s most trusted infrastructure brand by The Brand Trust Report 2015. The group operates mines in India, Australia, and Indonesia and supplies coal to Bangladesh, China, and other countries in Southeast Asia. In January 2018, Adani Ports and SEZ Limited added equipment and machinery to become the largest dredger fleet in India.
Adani Enterprises Limited is run by Gautam Adani, the enterprise handles the mining, trading, gas distribution, solar, and agribusiness divisions of the Group. This company also owns a subsidiary called Adani Gas which is a wholly owned subsidiary that executes the gas distribution business. Its real estate activities are managed by Adani Infrastructure and Developers Private Limited. The current incubation portfolio includes Mining Services, Integrated Coal Management, Road, Rail, Airports, Data centers, and Defense.
Adani Ports and SEZ Limited
Adani Ports and Logistics Logo
Adani Ports and Special Economic Zone Limited (APSEZ) is the largest private port company and special economic zone in India. The Company is headed by Karan Adani, CEO of APSEZ. The operations of the company are Logistics and Port management and operates ports Dahej, Mundra, Hazira, Dhamra, Kattupalli, and Vizhinjam.
Along with that, the Adani Group manages terminals at the ports of Mormugao, Ennore, Vishakhapatnam, and Kandla. The logistics were initially promoted by the Mundra Port Infrastructure Development Company Limited, as an enterprise of the Government of Gujarat and Adani Port Limited.
Adani Power Limited
Adani Power – Adani Group of Companies List
The company is run by Gautam Adani, Rajesh S. Adani. The company develops and maintains power projects in India. The firm has a combined installed capacity for developing and maintaining power projects across India. The company runs the following subsidiaries of 10440 MN with four thermal power projects across India.
The following subsidiaries are Adani Power Maharashtra Limited and Adani Power Limited. In 2014 Adani Power Ltd’s thermal power plant at Mundra in Gujarat is the world’s first coal-fired plant to receive carbon credit from the United Nations Framework Convention on climate change.
Revenue of Adani Power Limited from FY 2016 to FY 2024
Adani Transmission Limited
Adani Transmission
Integrated in 2013, Adani Transmission Limited handles the commissioning, operations, and maintenance of the electric power transmission system. The holding company holds operations and maintains 8511 circuit kilometers of transmission lines that range from 400 to 765 kilovolts.
The company has the following subsidiaries; Maharashtra Eastern Grid Power Transmission Company Limited, Maru Transmission Services Service Company Limited, Hadoti Power Transmission Limited Service Limited, Raipur Rajnandgaon Warora Transmission Limited, Sipat Transmission Limited, and Chhattisgarh WR Transmission Limited.
Adani Green Energy Limited
The process of creating the world’s largest single-location solar power plant
Largest listed pure-play renewable power producer in India with a portfolio of solar and wind assets of 2545 MW operational capacity. It is the largest listed renewable company in India and aims to scale up its infrastructure to produce 18 GW by 2025 and 25 GW by 2030.
Adani Gas Limited
It is India’s largest city gas distribution company mainly serving Industrial and Residential customers in Gujarat.
Adani Wilmar Limited
Adani Wilmar
Adani Wilmar Limited (AWL) is an Indian food and beverage company based in Ahmedabad. It started in 1999 as a joint venture between Adani Enterprises and Wilmar International. AWL is the largest palm oil processor in India. As of September 2024, it has 23 plants in 10 states across India and exports its products to the Middle East, Africa, and Southeast Asia.
The Adani Group has multiple business units and ports at various locations. Managing employees’ attendance and timing from a central place is critical for them. Due to diversified businesses, they have different time attendance policies at different locations. It is very challenging to capture the time-attendance rules of an organization. This is because of the diversity in timing, attendance, and leave policies concerning various locations, departments, and people.
Along with automated time attendance solutions, they want to control access at their premises for safety and security concerns. For certain exceptional situations, they need immediate notifications via SMS. As remote sites are there, they want different connectivity options for devices. The integration of SAP is required which is one of the challenges. By introducing an automatic system, the company wants to make manual interventions to reduce errors and fraud.
Gautam Adani was charged in New York for his involvement in an alleged bribery and fraud scheme worth billions of dollars, according to US prosecutors on November 20, 2024, and because of this Adani Group faced a loss of $55 billion.
In 2023, Adani’s businesses lost $150 billion in market value after a report by short-seller Hindenburg Research accused the group of major corporate fraud. The report claimed that Adani Group had been involved in stock manipulation and accounting fraud for many years.
Managing numerous workers’ attendance.
Eliminate fraudulent and inaccurate payment of wages at contractors’ end.
Monitoring each work order status determining its progress and segregating them.
Verifying the number of workers allotted to each task under a contractor against the respective contractors’ report.
Capturing accurate and diverse time attendance data of all workers.
Generating customized reports to make swift decisions and timely and error-free payroll processing.
Allotting workers to each work order based on the requirements and skills of the workers.
Ensuring approved and proper induction of each worker at a defined level.
A philanthropist is a term related to a person who is capable of helping the needy with the resources they have, especially money. Philanthropists help needy people create a better world and, so to say, improve the economy of a country. The constant effort to promote human welfare makes a person an actual philanthropist.
India is a country that has umpteen slums in every city. People living in such slums are so poor and needy that our industrialists and rich heads come forward to help them during their hard times. In the recent times, these philanthropists donated as much as they could. Here is the top philanthropists’ list in India:
Shiv Nadar, the founder of a multi-billion company (HCL Technologies) donates a huge amount of his earnings through the foundation named after him, Shiv Nadar Foundation. The foundation’s focus is empowering individuals through education to bridge the socio-economic divide.
He is widely regarded as the biggest philanthropist in India and believes that every person should be well educated thus has the aim to establish institutions and schools in the underdeveloped and rural areas of our country. Some of his famous institutions are the SSN Institution, VidyaGyan & Kiran Nadar Museum of Art. Shiv Nadar donated 5% more than FY2023 with a total of INR 2153 crores making him the top philanthropist in India for 2024.
Mukesh Ambani and Family
Name
Mukesh Ambani
Company
Reliance Industries
Donation
INR 407 Crores
Primary Cause
Healthcare
Mukesh Ambani – Famous Philanthropist in India
Mukesh Ambani, one of the richest people in the world is also a big philanthropist who founded the Reliance Foundation, a non-profit organization in 2010. This Foundation‘s objective is to promote sustainable growth in India.
The Reliance Foundation is run by Mrs. Nita Ambani who has a focus on rural transformation, health, education, and sports for development. Every year the foundation donates an amount of approximately INR 407 crores to such programs and NGOs. Mukesh Ambani and his family are second in the top 10 philanthropists of India for 2024.
The Bajaj family, Indian philanthropists, has made notable contributions and has been actively involved in philanthropic activities in the country where they have established their business. Their charitable endeavors have demonstrated a commitment to giving back to society and have had a significant impact on the communities they serve.
Their contribution of INR 352 crore to the cause is a testament to their unwavering commitment to charity and social welfare. This achievement marks their first appearance on the prestigious list since its inception and highlights their dedication to making a tangible impact through their acts of kindness. Bajaj Family is the third in the top 10 philanthropists of India for 2024.
Kumar Mangalam Birla and Family
Name
Kumar Mangalam Birla
Company
Aditya Birla
Donation
INR 334 Crores
Primary Cause
Education
Kumar Mangalam – Famous Philanthropist in India
The chairman of Aditya Birla Group, Kumar Mangalam Birla donated a huge amount of his profits to the PM CARES FUND and helped actively people during the COVID-19 pandemic times to do the needful.
His focus is on the poor who don’t have enough financial resources to pay their hospital bills and get proper treatment. He frequently visits the Aditya Birla Memorial Hospital to check up on its welfare and services. He is one of the top philanthropists in India for 2024.
Gautam Adani
Name
Gautam Adani
Company
Adani Group
Donation
INR 330 Crores
Primary Cause
Education
Gautam Adani – Famous Philanthropist in India
Gautam Adani is a true entrepreneur in every sense. He has businesses in almost every sector. He believes a lot in helping and is always donating finances through the Adani Foundation to the needful.
Adani Foundation is based on the Gandhian Philosophy of Trusteeship. The main motive is to facilitate quality education, enable youth with skills, and promote society through infrastructural development. He also donated an amount of INR 88 Crores during the COVID-19 period to the PM Cares Fund. With a donation of INR 330 crore, Gautam Adani is the 5th in the top 10 philanthropists in India for 2024.
Nandan Nilekani is the co-founder of Infosys. In 1978, he started his career at Infosys, and now he is one of India’s biggest entrepreneurs and a big philanthropist. He and his wife started donating small amounts of their income to poor people, and in 2017, both of them decided to donate 50% of their wealth to an NPO, which is operated by Bill Gates Foundation.
Krishna Chivukula – Famous Philanthropist in India
Krishna Chivukula, chairman of INDO-MIM, has donated INR 228 crore to IIT Madras. This is the largest donation the institute has ever received. The money will be used for fellowships for top BTech students, sports programs, and important research projects. He is now ranked 7th on the list of top donors.
Anil Agarwal
Name
Anil Agarwal
Company
Vedanta
Donation
INR 181 Crores
Primary Cause
Healthcare
Anil Agarwal – Famous Philanthropist in India
Anil Agarwal founded the Vedanta foundation on 15th September 1992, to help in creating more employment for sustainable development. Vedanta Foundation aims to achieve development through programs in the form of initiatives with a broad focus mainly on education, nutrition, and livelihood. He is one of the top philanthropists in India for 2024.
Their main objective is to focus on the school children, to provide them with proper nutrition, training, and knowledge about the digital world, which helps them to grow and grab better job opportunities.
Susmita and Subroto Bagchi
Name
Susmita and Subroto Bagchi
Company
Mindtree
Donation
INR 179 Crores
Primary Cause
Education
Susmita and Subroto Bagchi – Famous Philanthropist in India
Mindtree founder Subroto Bagchi and his wife Susmita are now in the top 10 donors list. They donated INR 179 crore, 63% more than last year. They focus on education and started the Bagchi School of Public Health at Ahmedabad University in 2023.
Rohini Nilekani
Name
Rohini Nilekani
Company
Rohini Nilekani Philanthropies
Donation
INR 154 Crores
Primary Cause
Ecosystem Building
Rohini Nilekani – Famous Philanthropist in India
Rohini Nilekani, a philanthropist in India, has been a beacon of hope for those in need with her consistent and generous donations of INR 15470 crore in 2024. Her unwavering dedication towards philanthropic causes is evident from her pledge to donate half of her wealth to noble works through the ‘Giving Pledge.’ She has been actively involved in various initiatives and programs aimed at uplifting society and making a positive impact on the lives of people. Her philanthropic efforts have touched the lives of many, and she continues to inspire others to follow in her footsteps.
Azim Premji
Name
Azim Premji
Company
Wipro
Donation (FY 2023)
INR 1,774 Crores
Primary Cause
Education
Azim Premji – Famous Philanthropist in India
Mr. Azim Premji is one of the most respected Indian Business tycoons, and also a top Indian philanthropist as he’s been donating his time, money, and experience to the people who are in the utmost need.
Recently, he has donated most of his wealth to all other philanthropists so they can pass on the resources to the right place at the right time. He has a trust named Azim Premji Foundation, which gives grants to non-profit organizations that work for the most vulnerable people in our society by providing them with the essential services required to carry out a healthy life. He is considered one of the most famous philanthropist in India.
Ajay Piramal
Name
Ajay Piramal
Company
Piramal Group
Donation (FY 2023)
INR 200 Crores
Primary Cause
Healthcare, Women’s Empowerment, Education
Ajay Piramal – Famous Philanthropist in India
Ajay Piramal, who owns a business of 460 crores, is a well-known philanthropist and also believes in donating for the good. He started his philanthropic career in 2006 by forming a group named the Piramal Foundation. His main objective was healthcare. As he became a pharmaceutical company he realized the need for a better healthcare system in India.
Presently the foundation works in four areas that are: Healthcare, Education, Better Livelihood, and Youth empowerment. Ajay donates around INR 200 crores every year to India’s needy population and is counted as one of the biggest philanthropist in India.
Shrichand Hinduja – Famous Philanthropist in India
Following the legacy left by his father, Shrichand Hinduja is one of the leading businessmen and a big philanthropist in India. Hinduja Foundation was founded in 1970 with the objective of ending poverty in the country.
The foundation has done various initiatives to identify and enhance the efficiency of water usage in rural areas. They also focus on the healthcare facilities available to remote areas and help in the sustainable development of small villages and towns.
Sudhir Mehta
Name
Sudhir Mehta
Company
Torrent
Donation (FY 2023)
INR 81 Crores
Primary Cause
Community Healthcare, Education, and Knowledge Enhancement
Sudhir Mehta – Famous Philanthropist in India
Sudhir Mehta is a well-known philanthropist in India, owning the Torrent group, which deals in the gas and power business. He donates a lot to the Gujarati community and the Jain people. Sudhir helps the people by giving the poor children a proper source of education and healthy meals to eat. He dreams of achieving a 100% literacy rate in India.
Cyrus and Adar Poonawalla – Famous Philanthropist in India
Cyrus S. Poonawalla and Adar Poonawalla, who represent the Serum Institute of India, have made an outstanding contribution of INR 179 crore to the India Philanthropy List 2023. The Poonawalla brothers have been particularly focused on the healthcare industry, which reflects a remarkable 60% increase in their donations from the previous year.
Their continued support of charitable activities related to the healthcare sector is further illustrated by their additional contribution of $19.08 million from Serum Inc. and Serum Institute Life Science-UK. All these contributions from famous philanthropists are a testament to their unwavering commitment to improving the healthcare sector in India.
The nation requires philanthropists in India who give their best efforts to make the country a better place to live. Such people who are capable of helping others should be appreciated as they are the people who can transform India by filling the gaps that others cannot. The above list of philanthropists in India highlights individuals who have made significant contributions to society through generous donations, particularly in areas like education, healthcare, and research.
FAQs
Who is the greatest philanthropist in India?
Shiv Nadar is considered one of the greatest philanthropists in India, as he has donated around ₹2,153 crores in 2024.
Who is a philanthropist?
A philanthropist is a person who donates his/her time, money, experience, and skills to help create a better world.
What is an example of philanthropy?
An example of philanthropy would be giving money to charity or volunteering.
Who is India’s most charitable person?
Azim Premji, one of India’s most respected business tycoons, is widely regarded as the country’s most charitable person for his extensive philanthropic contributions.
Gautam Adani, one of the world’s richest individuals and the founder of the Adani Group, has built a vast business empire across sectors like energy, infrastructure, and media. However, his journey has faced significant challenges, including allegations of corporate fraud, a massive stock market crash, and a recent US indictment accusing him of involvement in a $265 million bribery scheme.
Adani and his wife, Priti Adani, run the Adani Foundation as philanthropists. His philanthropic organization is headed by his wife, of which he is the President.
According to media reports, Gautam Adani’s net worth in November 2024 is projected to be around $69.8 billion. According to Forbes, he is the world’s 22nd richest person and India’s second-richest person behind Mukesh Ambani.
In this StartupTalky story, let us learn about Gautam Adani’s success story, personal life, life story, journey to success, education, Adani Group, philanthropy, and more.
Gautam was born in Ahmedabad, Gujarat, to a Jain family. Shantilal, his father, was a textile entrepreneur. He, along with seven of his brothers, mother, and father, lived in the northern part of Gujarat.
He and Priti Adani have a son, Karan Adani, who is the CEO of Adani Ports & SEZ Limited. His wife, a dentist, is the Managing Trustee of the Adani Foundation. Gautam was previously nobbled and released without accruing the money in 1998. He managed to avoid the 2008 Taj Hotel Mumbai attacks by hiding in the basement.
From an early age, he was driven and determined. As a teenager, he dropped out of school due to his lack of interest in academics. He went on to Gujarat University after that but did not finish his degree. He had no intention of entering his father’s textile company, despite his interest in the business.
Gautam Adani – Education
He graduated from Ahmedabad’s Sheth Chimanlal Nagindas Vidyalaya school with a bachelor’s degree. He then went on to Gujarat University to obtain a bachelor’s degree in commerce. However, after completing his second year of college, he dropped out.
Gautam Adani – Professional Life
Gautam was fascinated by entrepreneurship, but not his father’s textile company. He began working at a very young age. When he was 18, his entrepreneurial energy led him to leave Ahmedabad and relocate to Mumbai. The young man was eager to make it big despite having very little money. He worked at Mahendra Brothers in 1978 as a diamond sorter. He opened his own diamond brokerage company in Mumbai’s Zaveri Bazaar after working there for 2-3 years.
His company prospered, and by the age of 20, he had amassed a million-dollar fortune. His elder brother had recently purchased a plastic plant in Ahmedabad and asked Gautam Adani to assist him in its operation. Adani moved back to Ahmedabad and began working with his brother. Gautam expanded his empire into global trade by importing polyvinyl chloride. In 1985, he started commodity trading by importing Polyvinyl Chloride (PVC), a main raw material for plastic manufacturing, and traveled to South Korea to make a deal.
Gautam Adani – Timeline of Business ventures
Gautam Adani – Adani Group
Gautam Adani founded the Adani Group in 1988 and serves as its Chairman. The company is based in Ahmedabad, Gujarat, India. It is a commodity trading business with the flagship of Adani Exports Limited. The diverse business of the Group includes energy, resources, logistics, real estate, financial services, agribusiness, defense, and aerospace.
He has a 32.90% stake in Adani Ports & SEZ Limited, a 36.86% stake in Adani Power, a 50.29% stake in Adani Enterprises, and a 75% stake in Adani Transmission Limited. The Group holds an annual revenue of about INR 3.09 lakh crore (US$37 billion) for 2024, operating in 50 countries across 70 locations.
Adani Logo
Gautam Adani – Adani Enterprise Limited
Gautam established Adani Exports Limited in 1988, which has since evolved into Adani Enterprises Limited, the Adani Group’s holding company. Initially, the firm dealt with agricultural and power commodities.
In 1991, he began trading metals, textiles, and agro-products in order to expand his company. The shift in trade came as a result of the start of economic liberalization policies, and it proved lucrative for the group. Adani was able to quickly grow his company due to a favorable market climate.
Gautam Adani – Adani Ports & SEZ Limited
In October 1998, the business opened its doors at the Mundra Port. In February 2001, the group was given the right to operate and expand the Mundra Port, which is located on the Navinal Island in the Kutch area, for 30 years through a Concession Agreement with the Gujarat Government and the Gujarat Maritime Board. Mundra Port surpassed JNPT in August 2020 to become India’s largest container port.
Currently, the company is the largest private multi-port operator in the world. The port has a cargo capacity of 210 million tonnes per year, making it India’s largest private-sector port.
Karan Adani, the Chief Executive Officer of APSEZ, is in charge of the venture. Port management, logistics, and the special economic zone are among the company’s activities. Mundra, Dahej, and Hazira in Gujarat; Dhamra in Odisha; Kattupalli in Tamil Nadu; and Vizhinjam in Kerala are the ports where the business runs.
Gautam Adani – Adani Power Limited
Gautam created Adani Power Limited, another Adani Group portal, in 1996. With a capacity of 4620 Mega Watt, Adani Power is the country’s largest private thermal power plant operator. He bought Abbot Point Port in Australia and Carmichael Coal in Queensland between 2009 and 2012.
It is a privately owned thermal power plant with a capacity of 12,450 megawatts (MW). It also runs a 40-megawatt solar plant in Naliya, Bitta, Kutch, Gujarat. Jharkhand is home to Adani Power, which is building a 1,600 MW plant. The governments of Gujarat, Maharashtra, Haryana, Rajasthan, Karnataka, and Punjab have signed long-term power purchase agreements with the company totaling 9,153 MW.
Adani Power made a cumulative profit of INR 634.64 Crore in the 4th quarter, which ended on March 31, 2019. The company posted a consolidated net loss of INR 653.25 Crore in the previous financial year.
The business has received several honors and accolades. At IPPAI’s 18th Regulators & Policymakers Retreat in 2017, it was awarded ‘the Most Innovative Young Power Professional’. In Singapore, CSR Works International rewarded the firm for best sustainability reporting in Asia, with the support of the British Chamber of Commerce and the Canadian High Commission.
Gautam Adani – Adani Transmission
Adani Transmission Limited, headquartered in Ahmedabad, India, is a power transmission company. It is currently one of the largest private-sector power transmission companies in India. The company operates a total network of 12,200 circuit kilometers as of July 2020, with more than 3,200 circuit kilometers under construction at various points.
Gautam Adani created Adani Transmission in December 2015 after separating his ten-year-old transmission company from Adani Enterprises. The company became the primary custodian for over 3800 circuit kilometers of transmission lines originating from the Mundra Thermal Power Station, linking Mundra–Dehgam, Mundra–Mohindergarh, and Tirora–Warora, at the time of its establishment.
Gautam Adani – Adani Green Energy
Adani Green Energy Limited was formed on January 23, 2015, under the Companies Act 2013. AGEL and Inox Wind collaborated to construct a 20 MW wind power project in Lahori, Madhya Pradesh, during the company’s early days. AGEL also purchased Inox Wind’s 50 MW wind energy project in Kutch’s Dayapar village. The project was conceived by the latter after it won capacity bids for wind power projects linked to the National Grid from the Solar Energy Corporation of India.
With a total project portfolio of 13,990 MW, Adani Green Energy Limited (AGEL) is one of India’s largest renewable energy companies. AGEL is part of the Adani Group’s promise to give India a richer, safer, and more environmentally friendly future.
The Company creates, installs, owns, operates, and maintains utility-scale grid-connected solar and wind farm projects, all of which are driven by the Group’s philosophy of “Growth with Goodness.” The electricity produced is distributed to federal and state government agencies, as well as government-backed businesses.
Gautam Adani was charged in New York for his involvement in an alleged bribery and fraud scheme worth billions of dollars, according to US prosecutors on November 20, 2024.
Adani, who leads a large business empire in sectors like coal, airports, cement, and media, has faced serious allegations of corporate fraud and a major stock crash in recent years.
In 2023, Adani’s businesses lost $150 billion in market value after a report by short-seller Hindenburg Research accused the group of major corporate fraud. The report claimed that Adani Group had been involved in stock manipulation and accounting fraud for many years.
Gautam Adani – Philanthropist
Gautam is the president of the Adani Foundation, which he established in 1996. The Adani Group funds the organization, which is active in Maharashtra, Himachal Pradesh, Chhattisgarh, Rajasthan, and Odisha.
The Adani Foundation, which is run by the Adani Group, is active in a lot of philanthropic work. In addition to Gujarat, the foundation works in several states, investing in education, sustainable economic resources, and expanding rural development, among other things. Priti Adani runs the Adani Vidya Mandir in Ahmedabad, a school that accepts only children whose parents earn less than INR 1 lakh per year.
The foundation has a special program to assist fishermen, and it offers financial assistance to 500 fishermen from the coastal taluka for the purchase of fishing equipment. The children of the fishermen are given educational opportunities.
In the year 2012, Adani Foundation Group partnered with IndiaSkills, vocational education joint venture, and City & Guilds, one of the best brands of work-related evaluation and qualifications, to open a skills training site in Gujarat that would offer courses in commerce, hospitality, defence, renovation, and engineering.
Gautam Adani also donated INR. 100 Crore to the Prime Minister CARES FUND through the Adani Group’s portal to combat the Coronavirus crisis. He made a donation of INR 5 Crore to the Gujarat Chief Minister’s Relief Fund and INR 1 Crore to the Maharashtra Chief Minister’s Relief Fund.
Thank you @IndianEmbRiyadh. Indeed, actions speak louder than words. We are on an urgent mission to secure oxygen supplies from across the world. This first shipment of 4 ISO cryogenic tanks with 80 tons of liquid oxygen is now on its way from Dammam to Mundra. (1/3) https://t.co/BLZ0SbQ499pic.twitter.com/lFKnx0hIhX
Four ISO cryogenic tanks loaded with 80 metric tonnes of liquid medical oxygen were imported from Dammam, Saudi Arabia, to Mundra, Gujarat, by Gautam Adani’s diversified conglomerate Adani group. Linde Saudi Arabia has agreed to provide the community with 5,000 medical-grade oxygen cylinders. Adani said on Twitter that his company provides 1,500 cylinders of medical oxygen per day to wherever they are required in Gujarat’s Kutch.
Conclusion
Adani’s knack for business can be seen in all of his endeavors. He has his hands in almost every industry imaginable and has become the very best in them be it logistics or real estate. He had his mind set on being an entrepreneur from a very young age – in his actual teenage years at a time when it wasn’t regarded as being cool. And he came from a very ordinary family and carved himself a very extraordinary life indeed. There’s a lot to learn from his business moves!
Gautam Adani is an Indian businessman and philanthropist who founded the Adani Group, a multinational conglomerate specializing in port development and operations in India.
What is the net worth of Gautam Adani?
Gautam Adani’s net worth is estimated at $69.8 billion as of November 2024.
When was the Adani Group founded?
Adani established the Adani Group in 1988, which is headquartered in Ahmedabad, India.
What is Gautam Adani education?
Gautam Adani was educated at Sheth Chimanlal Nagindas Vidyalaya School in Ahmedabad. He then enrolled for a bachelor’s degree in Commerce at Gujarat University. However, Adani dropped out after the second year because he was interested in doing business there in his father’s textile business.
How many Gautam Adani founded organizations are there?
Adani Group consists of 10 publicly listed entities.
The Kenyan government has confirmed that the conglomerate will construct power transmission lines, according to a report by a renowned media house. This comes even though the transfer of management of the country’s primary airport to the Adani Group, which is led by Gautam Adani, has been met with opposition and protests from unions up until recently.
According to the report, Kenya Electricity Transmission Company (Ketraco) has awarded a concession for a public-private partnership to construct power transmission lines to India’s Adani Group and an entity of the African Development Bank. This information was provided by a presidential economic advisor.
One of the key economic advisors to President William Ruto, David Ndii, announced in a post on X (which was formerly known as Twitter) that the concession is worth $1.3 billion.
The Post on X
For the purpose of constructing new transmission lines, Adani and Africa50 have been granted public-private partnership concessions by the government, as stated by Ndii in the post that was published on X. Their project teams are now being recruited. “We are not required to take out loans in order to cover the cost of these transmission lines, which is $1.3 billion,” he said.
The African Development Bank is the organisation that oversees Africa50, which is an investment platform that focuses on expanding infrastructure.
The Deal and Its Detail
The proposal made by the Kenyan government to lease the country’s primary international airport to the Adani Group has resulted in strong opposition from the general population and a walkout by those employed in the aviation industry. The Adani Group would be able to lease Jomo Kenyatta International Airport for a period of 30 years, according to the report, and the company would also invest 1.85 dollars in the expansion of the airport.
The firm owned by Adani, which is responsible for the operation of seven airports in India, has been subjected to constant criticism from opposition parties in India. These parties have accused the corporation of profiting from favouritism directed by the government. Government officials in India and representatives of the Adani Group have repeatedly refuted these allegations.
At the moment, Kenya is wrestling with a substantial amount of debt that has been acquired over the course of several years of major investments in infrastructure. A proposal made by the government to raise taxes in an effort to generate funds for debt repayment was met with violent protests earlier this year, which ultimately resulted in the implementation of the idea being withdrawn by the administration.
Adani Ports and Special Economic Zone Limited (APSEZ) is India’s largest multi-port operator. Currently, the Key Managerial Personnel at APSEZ is Karan Gautambhai Adani who serves as the Chief Executive Officer (CEO), and Kamlesh Prabhudas Bhagia who serves as the Company Secretary. The Board of Directors of Adani Ports and Special Economic Zone includes Karan Gautambhai Adani, Nirupama Rao, Avantika Singh Aulakh, and seven other members. APSEZ is India’s largest private port operator with the country’s largest SEZ at Mundra.
Operating as India’s largest private port Adani Ports and Special Economic Zone Ltd. is also an end-to-end logistics provider. Their 12 strategically located ports and terminals represent their vision of readiness, ability, and willingness to serve the country’s core needs. Their ports are present and functional at –
Krishnapatnam Port
Mundra Port, Gujarat
Tuna Terminal, Gujarat
Dahej Port, Gujarat
Hazira Port, Gujarat
Mormugao Port, Goa
Vizjhinjam Port, Kerala
Ennore Terminal, Tamil Nadu
Vizag Terminal, Andhra Pradesh
Dhamra Port, Odisha
Dighi Port
Kattupalli Port, Tamil Nadu
Business in Numbers
Adani Ports Share Analysis
The last five years of business for Adani Ports and Special Economic Zone Ltd. have been a bit of a curveball, which will the Covid-19 pandemic putting a giant wrench in business operations. In 2018, APSEZ recorded a total income of INR 8141.14 crore to recording INR 7679.28 crore in 2019, INR 7546.25 crore in 2020, INR 6643.46 crore in 2021, and INR 6725.53 up to now in the current year of 2022.
History of Adani Ports and Special Economic Zone Limited
It was incorporated as Gujarat Adani Port Ltd (GAPL) on May 26, 1998, and promoted by Adani Port Limited and Gujarat Port Infrastructure Development Company Ltd, a Government of Gujarat undertaking. Its main aim was to develop a private port at Mundra on the west coast of India. It was later changed to Mundra Ports and Special Economic Zone Limited to reflect its nature of business and then changed back to Adani Ports and Special Economic Zone Limited in 2012. A detailed growth timeline constitutes a better explanation of its business operations and expansions.
Time Line of Adani Ports and Special Economic Zone Limited
Adani Ports Revenue and Net-Profit Growth
Adani Ports and Special Economic Zone Limited currently operates 12 ports in India comprising 45 berths and 14 terminals across 6 states. Its journey across more than 2 decades can be explained through a detailed timeline.
October 2001 – The company begins commercial operations as Gujarat Adani Port Ltd. (GAPL).
May 2002 – Signs an agreement with Guru Govind Singh Refineries Ltd. (GGSRL) for crude oil handling at Mundra.
October 2002 – Signed an agreement with Indian Oil Corporation (IOC) to set up a Single Point Mooring (SPM) facility and crude oil handling at Mundra.
November 2002 – Signs an agreement with Indian Railways for integrating the Mundra-Adipur railway line with the national rail network.
January 2003 – Signs a sub-concession agreement for a container terminal.
July 2003 – Container Terminal I becomes operational.
April 2004 – The company enters into a shareholders agreement with Kutch Railway Company Ltd., for Gandhidham – Palanpur gauge conversion.
June 2005 – Adani Port Ltd. is amalgamated with the company with effect from April 1, 2003.
December 2005 – Single Point Mooring (SPM) becomes operational.
April 2006 – Mundra Special Economic Zone Ltd and Adani Chemicals Ltd are amalgamated with the company.
July 2006 – Gujarat Adani Port Ltd is renamed as Mundra Ports and Special Economic Zone Ltd (MPSEZ) to reflect the nature of business.
March 2007 – The company commissions two additional berths for bulk cargo operations at Terminal II.
April 2007 – The company signed Port Services Agreement with Tata Power promoted power generation company for handling imported coal cargo.
October 2007 – The company comes out with an Initial Public Offering (IPO).
November 2007 – Shares are listed on the National Stock Exchange and the Bombay Stock Exchange.
February 2008 – Company signs Port Services Agreement with Maruti Suzuki India Ltd. for handling car exports.
January 2009 – Adani Auto Terminal began terminal operations.
Entire 2009 & 2010 – The company incorporates Adani Murmugao Port Terminal Pvt Ltd, Adani Hazira Port Pvt Ltd, and Mundra International Airport Pvt Ltd as wholly owned subsidiaries. Adani Petronet (Dahej) Port Pvt. Ltd. (a joint venture between MPSEZ and Petronet LNG Ltd (PLL) ) became a subsidiary.
Between 2010 and 2011 – The company incorporates Adani Vizag Coal Terminal Pvt Ltd, Adani International Container Terminal Pvt Ltd, Mundra Port Pty Ltd Australia, and Mundra Port Holdings Pty Ltd Australia as subsidiary companies.
September 2010 – Promoter entities of the company merge with Adani Enterprises Ltd (AEL).
December 2010 – Mundra Port West basin commences its commercial operations with the berthing of its first cargo vessel M.V. CSK Beilun and with this, the port is poised to become the world’s largest coal import terminal.
January 2012 – Mundra Port and Special Economic Zone Ltd., changes its name to Adani Ports and Special Economic Zone Ltd.
July 2012 – APSEZ subsidiary Adani Kandla Bulk Terminal Pvt. Ltd., signs a concession agreement with the Kandla Port Trust to set up a dry bulk terminal on a build, operate and transfer basis.
July 2013 – APSEZ announces a joint venture with Switzerland-based MSC Mediterranean Shipping Company to operate a new container terminal at Mundra Port.
December 2013 – APSEZ announces completion of INR 400 crore steam coal import terminal at Vishakhapatnam – eight months ahead of schedule.
May 2014 – APSEZ announces a definitive agreement with L&T Infrastructure Development Projects Ltd., and Tata Steel Ltd., to acquire Dharma Port located in Odisha, east coast of India for an enterprise value of INR 5500 crore.
July 2014 – APSEZ receives environment and coastal regulation zone clearance from the Union Ministry of Environment and Forests for its Special Economic Zone at Mundra which is spread across 8481 hectares and includes Mundra Port.
February 2015 – APSEZ announces the commissioning of a bulk terminal at Tuna Tekra Kandla Port.
December 2015 – APSEZ formally begins the development of an international transshipment project in Vizhinjam, Kerala.
The year 2016 – The company announces that all ports and townships are being prepared to run on 100% renewable energy – a combination of solar and wind.
September 2016 – Abbot Point Operations Pty Ltd., an Australian subsidiary of APSEZ acquires ownership of Abbot Point Bulk Coal Pty Ltd.
April 2017 – Adani Logistics Ltd., a subsidiary of APSEZ announces the beginning of commercial operations at its Multimodal Logistics Park at Kilaraipur Ludhiana, Punjab.
April 2017 – APSEZ announces the commissioning of a new container terminal at Mundra Port in a joint venture with CMA Terminals for jointly operating the terminal for 15 years.
May 2017 – Mundra International Gateway Terminal Pvt. Ltd., is incorporated as a wholly owned subsidiary to develop, operate and maintain ports and related infrastructure.
April 2018 – Adani Logistics Ltd, a wholly owned company subsidiary buys Blue Star Realtors Pvt. Ltd.
March 2019 – The company owns 58 subsidiary companies (including step-down subsidiaries) 2 joint ventures and one associate company.
The year 2020 – The company acquires a 70% controlling stake at Krishnapatnam Port Company Ltd.
March 2020 – The company owns 67 subsidiary companies (including step-down subsidiaries), 2 joint ventures, and one associate company.
March 2021 – Board of Directors approves the Composite Scheme of Arrangement between Adani Ports and Special Economic Zone Ltd, Brahmi Tracks Management Services Pvt. Ltd., Adani Tracks Management Services Pvt. Ltd., Sarguja Rail Corridor Pvt. Ltd and their respective shareholders and creditors – – The amalgamation of Brahmi with APSEZ with effect from the appointed date – 1st April 2021 – The amalgamation of Adani Tracks with Sarguja with effect from the appointed date – 1st April 2021 – Transfer of the Divestment Business Undertaking (Mundra Rail Business) as a going concern on a slump sale basis with effect from the appointed date – 1st April 2021 by APSEZ to Sarguja for a lumpsum consideration
2020 – 2021 – Company issues and allots 30000 Rated Listed Secured Redeemable Non-Convertible Debentures (NCDs) of FV INR 10/- lakhs each aggregating to INR 3000 crore on a private placement basis listed on the Wholesale Debt Market Segment of BSE Ltd.
March 2021 – The Company has 77 subsidiaries and 7 joint ventures.
March 2021 – Completes 75% acquisition of the Krishnapatnam port and enters into a definitive agreement for the purchase of the balance 25% at an enterprise value of INR 13675 crore.
March 2021 – Private Equity Firm Warburg Pincus acquires 0.49% stake in Adani Ports for INR 800 crores.
June 2021 – Completes acquisition of the Dighi Port for INR 705 crore and announces the acquisition of Sarguja Rail Corridor and Gangavaram Port (INR 6200 crore acquisition).
June 2021 – Adani International Port Holdings Pte Ltd., is incorporated as a wholly-owned subsidiary.
April 2022 – Adani Harbour Services Ltd., a subsidiary, acquires a 100% stake in the Indian third-party marine service provider Ocean Sparkle Ltd.
July 2022 – Adani Ports seal Israel’s Port of Haifa bid with Gadot for INR 118 crore with Adani Ports holding 70% and the balance 30% shares held by Gadot.
September 2022 – Adani Port secures INR 310 crore port project in Eastern India.
Funding for Adani Ports
The total funding amount that Adani Ports and Special Economic Zone Ltd. has raised is INR 6580 crore. Most of this funding was raised in 2017.
2017 Funding:
APSEZ raises over INR 3400 crore by issuing foreign currency denominated bonds for funding SEZ project.
Raises INR 1000 crore through allotment of non-convertible debentures on a private placement basis.
Raises INR 1600 Crore by allotment of rated, listed, secured, redeemable, non-convertible debentures on a private placement basis.
Future of APSEZ & Conclusion
By April 27, 2022, the APSEZ stock reached its all-time high of INR 924 and the company aims at becoming India’s largest integrated transport utility company by 2030. Towards this end, APSEZ is working to strengthen its capabilities in all logistics segments like ports, CTO, warehousing, last-mile delivery, ICDs, etc.
FAQs
Who controls Adani port?
Karan Gautambhai Adani as CEO(KMP) and Kamlesh Prabhudas Bhagia as Company Secretary are the key managerial personnel at Adani Ports And Special Economic Zone Limited.
Which is the largest private port in India?
Mundra Port is the largest private port in India located in the Kutch district, Gujarat.
What is the incorporation year of APSEZ?
Adani Ports and Special Economic Zone Limited went into business in 1998.
What is Adani Ports’ business model?
(APSEZ) provides Dredging and Reclamation solutions, primarily for port and harbor construction.
India is home to some insanely wealthy families and individuals well-known across the globe. India has the third largest group of rich people after the US and China. In 2022, the combined wealth of India’s 100 richest increased by $25 billion to touch $800 billion. StartupTalky has compiled an exhaustive list of the top richest people in India . Their net worth is based on the data from 2022 available on their respective Forbes profiles.
Founder – Adani Group Net Worth – $150 Billion Industry – Diversified
Gautam Adani, Founder of Adani Group | Top Richest Indians
Gautam Adani is an Indian billionaire industrialist and stands in the first position on the list of the top richest Indians in 2022. He is the chairman and founder of the Adani Group. The Adani Group is an Ahmedabad-based conglomerate involved in port development and operations in India. He is also the president of the Adani Foundation which operates to nurture communities in four chosen areas—education, healthcare, sustainable livelihood, and rural infrastructure development.
The Adani Group was formed in 1988 and has business interests in the resources, logistics, energy, agriculture, defence, and aerospace sectors. Gautam Adani holds a 66% stake in Adani Ports & SEZ Limited, a 75% stake in Adani Enterprises, a 73% stake in Adani Power, and a 75% stake in Adani Transmission. He was ranked as the 4th most powerful person in India by India Today Magazine in 2017.
Gautam Adani was born on 24 June 1962 in a Bania family in Ahmedabad, Gujarat. He did his schooling at Seth CN Vidyalaya in Ahmedabad. He is a B.Com dropout from Gujarat University. The Adani group’s venture into Australia after a nine-year wait is expected to bring huge windfalls for the billionaire.
Mukesh Ambani
Chairman – Reliance Industries Net Worth – $88 Billion Industry – Diversified
Mukesh Ambani – Chairman and Managing Director of Reliance Industries | Top Richest Indians
Mukesh Ambani is an Indian billionaire businessman and stands in the second position on this list, as of 2022. He is the chairman and managing director of Reliance Industries Limited (RIL). Reliance Industries mainly deals in refining, petrochemicals, and activities in the oil and gas sector. Mukesh Ambani has diversified his reach in the Indian market through several ventures, racing ahead in his net worth and influence exerted over India’s developing economy. Reliance Retail—which offers foods, groceries, apparel, footwear, lifestyle, home improvement products, electronic goods, and farm implements—is one of his group’s recent offerings. The Ambani family is also the owner of Mumbai Indians, an IPL franchise. Mukesh Ambani also owns Reliance Jio Infocomm Ltd. which took the telecom sector in India by storm and toppled the monopoly of the oldest players in the domain.
He was ranked 13th on the list of the world’s richest people as of May 2019. He has a stake of approximately 50% in Reliance Industries. Ambani surpassed Jack Ma, founder and executive chairman of Alibaba Group, to become Asia’s richest person with a net worth of $44.3 billion in July 2018. Mukesh Ambani is known to make headlines every now and then for the right reasons—Saudi Arabia-based Aramco buying a 20% stake in RIL for a whopping $15 billion, and him completing a 100% acquisition of Hamleys through Reliance Brands, a subsidiary of Reliance Industries.
Mukesh Ambani’s Life, Biography, and History
Mukesh is the oldest son of Dhirubhai Ambani and has a younger brother, Anil Ambani, whose downhill journey to oblivion is known to all. Mukesh Ambani was born on 19 April 1957 in Aden, Yemen and brought up in Mumbai. He graduated in Chemical Engineering from the Institute of Chemical Technology. He is an MBA dropout from Stanford University. Mukesh is a fan of Bollywood movies and watches three movies a week. He quips, “You need some amount of escapism in life.”
Radhakishan Damani
Founder – DMart Net Worth – $27.6 Billion Industry – Retail, Investments
Radhakishan Damani, Founder of DMart | Top Richest Indians
Radhakishan Damani founded the DMart chain of supermarkets. His retail chain accounts for more than 90 stores across India and is the third biggest in the industry. He has the ownership of a 65.2% stake in Avenue Supermarts, the parent company of DMart. His investment company, Bright Star Investments, holds another 16% stake.
Radhakishan Damani is known as Mr. White for his simplistic way of life coupled with high thinking. He is also a stock investor, broker, and trader. Radhakishan is well-known for his acumen and shrewdness as an investor.
Damani was born in 1945 in a Marwari family in Bikaner, Rajasthan. He enrolled for a bachelor’s degree in commerce but dropped out after the first year.
Cyrus Poonawala
Chairman – Poonawalla Group Net worth – $21.5 Billion Industry – Healthcare
Cyrus Poonawalla, Chairman of Serum Institute of India | Top Richest Indians
Cyrus Poonawalla is a self-made Indian tycoon. He is the founder of the Poonawalla Group. Cyrus comes from a family that is deeply connected with horse breeding. However, his keen interest in the field of medicine led him to create one of the world’s largest vaccine manufacturing and biotech companies – Serum Institute of India.
Cyrus Poonawalla was awarded the Padma Shri for his work and contributions made in the field of medicine. He was also awarded the Life Time Achievement award by the then-Prime Minister Of India, Dr. Manmohan Singh. With a net worth of $8.3 billion, Cyrus Poonawala is the 170th richest person on earth.
Shiv Nadar
Founder – HCL Net worth – $21.4 Billion Industry – Software Services
Shiv Nadar, Founder of HCL | Top Richest Indians
Shiv Nadar is the Chairman Emeritus and founder of HCL and established the Shiv Nadar Foundation. He is a prominent industrialist and philanthropist. Nadar has committed more than $1 billion to philanthropy. He is ranked 5th in the Forbes list of richest persons in India (2022).
Nadar founded HCL in 1976. Nadar was honoured with the third highest civilian award, Padma Bhushan, by the Government of India in 2008. Madras university conferred upon Shiv Nadar an honorary doctorate degree in the year 2007. He was present in Forbes’ 48 Heroes of Philanthropy in the Asia Pacific in 2011.
Nadar was born on 14 July 1945 in Tamil Nadu. He currently lives in New Delhi. He pursued his degree in Electrical and Electronics Engineering from Coimbatore. Nadar is called “Magus” by his friends (meaning ‘wizard’ in Persian).
Savitri Jindal
Chairperson – O.P. Jindal Group Net Worth – $16.4 Billion Industry – Metals and Mining
Savitri Jindal, Chairperson of O.P. Jindal Group | Top Richest Indians
Savitri Jindal is the Chairperson Emeritus of the Jindal group that deals with steel, power, mining, and the oil and gas domains. The Jindal group is well-known in the manufacturing industry (every Indian knows about Jindal Steels). Savitri took over the company after the death of her husband OP Jindal in 2005 who founded the Jindal Group. After taking charge as the chairperson, the revenue of the company quadrupled.
Savitri Jindal is the richest woman in India. She was the world’s 453rd richest person in 2016. She is also the world’s seventh-richest mother. Savitri was a Minister in the Haryana Government and a member of the Haryana Vidhan Sabha from Hisar constituency.
She was born in Tinsukia, Assam and presently lives in Hisar, Haryana. She holds a diploma degree in Education. Her son Naveen is constantly in the limelight for his success as a businessman. She has nine children with Om Prakash Jindal.
Dilip Shanghvi
Founder – Sun Pharmaceuticals Net Worth – $15.5 Billion Industry – Healthcare
Dilip Sanghvi, Founder of Sun Pharma | Top Richest Indians
Dilip Sanghvi is the founder of Sun Pharmaceuticals which manufactures and sells pharmaceutical formulations and active pharmaceutical ingredients (APIs) primarily in India and the United States. He started the company in Vapi in 1982 with a capital of Rs. 10,000. Sun Pharma is the largest pharmaceutical company in India and the fifth largest in the world. Its drugs have always been in high demand with the major markets being India, the USA, and Japan.
Dilip Sanghvi was honoured with the Padma Shri in 2016. He is also a trustee of the Rhodes scholarship programme at Oxford University. He was appointed by the Indian government to the RBI’s 21-member central board committee.
Dilip Sanghvi was born on 1 October 1955, in Amreli, Gujarat. He pursued B.Com from the University of Calcutta. He did his schooling and graduated from J. J. Ajmera High School and Bhawanipur Education Society College respectively. Dilip Sanghvi is unanimously considered the richest businessman in the drug and pharma sector.
Hinduja Family
Ownership – Hinduja Group Net Worth – $15.2 Billion Industry – Diversified
Hinduja Family, Hinduja Group | Top Richest Indians
The Hinduja Group is one of the biggest Indian businesses with a strong international presence. Founded by Parmanand Deepchand Hinduja, the company is now run by his sons Shrichand, Gopichand, Prakash, and Ashok. Though the Hindujas are Indians, they have soaked in success while staying outside the country. The company headquarters is situated in London. This is also the reason behind the Hinduja Group featuring among the wealthiest companies in Britain.
Kumar Managalam Birla
Chairman – Aditya Birla Group Net Worth – $15 Billion Industry – Diversified
Kumar Birla, Chairman of Aditya Birla Group | Top Richest Indians
Kumar Birla is an Indian industrialist and the chairman of the Aditya Birla group. He is an educationist as well. Kumar Birla is the chancellor of the Birla Institute of Technology & Science (BITS). He is the chairman of IIT Delhi, IIM Ahmedabad, and the chairman of the Rhodes India Scholarship Committee for Oxford University. Kumar serves on the Asia Pacific Advisory Board of the London Business School and is an honorary fellow of the London Business School.
Kumar Mangalam Birla handed over the reins of the Birla Group at the age of 28 after the demise of his father in 1998. Under him, the company expanded from being valued at $3.33 billion in 1995 to $41 billion in 2015. He was felicitated with the “CEO of the Year” award by the International Advertising Association, and the Economic Times’ “Business Leader Award” in 2003 and 2013.
He was born on 14 June 1967 in Calcutta and brought up in Mumbai. He studied B.Com from the HR College of Commerce and Economics, has an MBA degree from the London Business School, and is a chartered accountant from the ICAI (India).
Bajaj Family
Ownership – Bajaj Group Net worth – $14.6 Billion Industry – Diversified
Bajaj Family Owners of Bajaj Group | Top Richest Indians
The Bajaj Group owns 40+ companies and the group’s flagship company—Bajaj Auto is ranked as the fourth largest two- and three-wheeler manufacturer in the world. The Bajaj Group is involved in industries such as home appliances, lighting, iron and steel, insurance, travel, and finance.
Bajaj Group was founded by a Rajasthani Marwari businessman, Jamnalal Bajaj, in 1926. Rahul Bajaj, the grandson of Jamnalal Bajaj, the late patriarch and former chairman, shared the family fortune with cousins. Following the passing of the patriarch in February 2022, Rajiv Bajaj, Rahul Bajaj’s older son, now leads Bajaj Auto, while Sanjiv Bajaj, Rahul Bajaj’s younger son, manages Bajaj Finserv—the family’s most significant asset.
Sanjiv Bajaj, Chairman and MD of Bajaj Finserv, leads the financial conglomerate within the Bajaj Group with 9M consolidated revenue of over Rs 58,447 crore ($7.14 billion)* and Rs 4,648 crore ($568 million)* profit after tax for FY2022-23. Under his leadership, Bajaj Finserv has emerged as a leading diversified financial services company in India, offering lending, insurance, and wealth advisory solutions.
Sanjiv Bajaj chairs Bajaj Finance, Maharashtra Scooters, Bajaj Finserv Asset Management, and Bajaj Housing Finance, among others. His contributions to the financial services sector have been widely recognized, including being honored as AIMA’s Transformational Business Leader 2023, among other prestigious honors.
Founder – Bharti Enterprises Net Worth – $14.5 Billion Industry – Telecom
Sunil Mittal, Founder of Bharti Enterprises | Top Richest Indians
Sunil Mittal is the founder of Bharti Enterprises, which has diversified interests in telecom, insurance, real estate, education, malls, hospitality, agriculture, and food. He was among the early birds who identified the potential in the mobile telecom business and came up with Airtel; Sunil dominated the telecom segment in India through Airtel until Mukesh Ambani stepped in with Jio. Bharti Airtel, a subsidiary of Bharti Enterprises, manages Airtel and is currently focusing on Asia and the African regions.
Sunil Mittal was awarded the Padma Bhushan in the year 2007. He was then elected as chairman of the International Chamber of Commerce in 2016. He is no stranger to laurels and recognition, having been the recipient of awards like Telecom Person Of The Year by Telecom Asia Awards, and Business Leader Of The Year by Economic Times to name a few.
Born on 23 October 1957 in Ludhiana, Punjab, he completed his education at Arya College and Punjab University. At the age of 18, he started his first business by borrowing Rs. 20000 from his father. His father was an MP from Ludhiana.
Uday Kotak
Founder – Kotak Mahindra Bank Net Worth – $14.3 Billion Industry – Finance and Investments
Uday Kotak, Founder, MD, and CEO of Kotak Mahindra Bank | Top Richest Indians
Uday Kotak is the founder, MD, and CEO of Kotak Mahindra Bank Ltd. Kotak Mahindra Bank. Anand Mahindra lent Rs. 1 lakh to Uday Kotak to start a financial services firm 30 years ago.
He was recognized as the “Most Powerful Person in The Financial World” by Forbes in May 2016. India Today magazine ranked him 8th in India’s most powerful person list of 2017. He was also the Ernst and Young World Entrepreneur of the Year in 2014.
Born on 15 March 1959 in Mumbai, Uday Kotak was brought up in an upper-middle-class Gujarati-Lohana joint family. He pursued his bachelor’s degree from Sydenham College of Commerce and Economics and holds an MBA degree from Jamnalal Bajaj Institute. He is a math wizard and topped his university in B.Com.
Shapoor Mistry and Family
Chairman – Shapoorji Pallonji Group Net Worth – $14.2 Billion Industry – Diversified
Shapoor Mistry, Chairman of Shapoorji Pallonji Group | Top Richest Indians
After the death of Pallonji Shapoorji Mistry and his younger son, Cyrus Mistry earlier in 2022, Shapoor Mistry (Pallonji Shapoorji’s elder son) now runs the Shapoorji Pallonji Group. He serves as the Chairman of the Shapoorji Pallonji Group. The family holds also holds an 18.4% stake in Tata Sons.
Shapoor Mistry, the patriarch’s older son and group Chairman, now oversees the family’s $14.2 billion fortune, which is primarily derived from a minority stake in the sprawling Tata conglomerate.
Godrej Family
Ownership – Godrej Group Net Worth – $13.9 Billion Industry – Diversified
Adi Godrej, Chairman Emeritus of Godrej Group | Top Richest Indians
The Godrej company has existed since 1897 and is present in almost every imaginable sector of the Indian economy. The company was founded by Pirojsha and Ardeshir Godrej. The empire is now run by their grandsons Adi, Nadir, and Jamshyd. Adi Burjorji is the head of the Godrej family and the chairman of the Godrej Group. He has been the chairman of the Indian School of Business since April 2011.
Ardeshir decided to make locks after seeing the crime rates in 1897. His brother joined him in his venture and the rest is history. Smita Godrej is a third-generation heir of the Godrej family. On a lighter note, almost every family in India still has a Godrej almirah that’s at least 20 years old!
Lakshmi Mittal
Chairman – ArcelorMittal Net Worth – $13.8 Billion Industry – Metals and Mining
Lakshmi Mittal, Founder and Chairman of ArcelorMittal | Top Richest Indians
Lakshmi Niwas Mittal is an Indian steel magnate, Founder, and Chairman of ArcelorMittal. He is the owner of Karrick Limited and the co-owner of Queens Park Rangers F.C. He is popularly known as the King of Steel. In 2007, he became the richest Asian in Europe. His empire has been subjected to a minor slowdown after the acquisition of an Italian company but Lakshmi Mittal continues to grow every day with his companies consistently reporting double-digit growth year in, and year out.
Lakshmi Niwas Mittal is on the board of directors of the European Aeronautic Defence and Space Company. He is a member of the independent board of directors at Goldman Sachs since 2008. He is also associated with several charities and firmly supports the development of Indian athletes.
Lakshmi Mittal was born on 15 June 1950 in Sadulpur, Rajasthan to a traditional Marwari family. He currently resides in London. He pursued his B.Com degree from St. Xavier’s College, Calcutta. Mittal is known for his lavish lifestyle and incredible success statement; the steel tycoon spent approximately $60 million on his daughter Vanisha Mittal’s nuptials. The spectacle features in Forbes’ top ten most outrageous billionaire weddings.
Madhukar Parekh
Chairman – Pidilite Industries Net Worth – $12.6 Billion Industry – Manufacturing
Madhukar Parekh, Chairman of Pidilite | Top RIchest Indians
Madhukar Balvantray Parekh is the chairman and executive director of Pidilite Industries, an organization dealing in adhesives and construction chemicals. Fevicol, Dr. Fixit, M-Seal, Fevikwik, and Fevistik are some of the big names in the Pidilite chain.
Parekh serves as the Chairman, executive director, and MD of Vinyl Chemicals India Limited. He is also an independent non-executive director of Excel Industries Limited. Under his leadership, the company won many prestigious awards such as the ‘Most Promising Company of the Year’ at CNBC, and the 11th India Business Leader Awards.
Madhukar was born in 1945 in Mumbai. He currently lives in Mumbai. Parekh is a Gold medalist holder from the Institute of Chemical Technology (ICT), a leading chemical technology research institute in India. His father Balvantray Kalyanji Parekh was the founder of Pidilite Industries. Balvantray was popularly known as ‘India’s Fevicol Man’.
Burman Family
Ownership – Dabur India Net Worth – $9.6 Billion Industry – Consumer Goods
Burman Family, Dabur | Top Richest Indians
The Burman family is responsible for giving us Indians Dabur Chyawanprash, a health product that graces the kitchen shelf of every other Indian. An Ayurvedic practitioner Dr. S.K. Burman started the business in the 1880s. His son then went on to set up a research and development facility and also began the mass production of medicines in 1884. Dabur Ltd. is presently handled by the fifth generation of the Burman household. However, Fresenius SE which is based out of Germany controls more than 73.3% of Dabur Pharma Ltd.
Azim Premji
Founder – Wipro Net Worth – $9.3 Billion Industry – Technology
Azim Premji – Founder of Wipro | Top Richest Indians
Azim Premji is referred to as the Czar of the Indian IT Industry. He is an Indian billionaire, business tycoon, investor, philanthropist, and the founder of India’s third-largest software company—Wipro Limited. Wipro Limited is an India-based IT, consulting, and business process services (BPO) company headquartered in Bengaluru, India. Azim Premji is also the richest person in Karnataka.
The Government of India honoured Azim Premji with Padma Bhushan in 2005 and awarded him the Padma Vibhushan, the second highest civilian award, in 2011 for his excellent work in the field of trade and commerce.
Premji was born on 24 July 1945 in Mumbai and currently resides in Bangalore. Premji pursued Electrical Engineering (equivalent to a Bachelor of Engineering) from Stanford University, USA. He took over his family’s cooking oil business after the death of his father in 1966. He is also the first Indian to sign up for The Giving Pledge, a campaign led by Bill Gates and Warren Buffett. The Giving Pledge focuses on encouraging the wealthiest individuals to give away most of their money to philanthropic causes.
Kushal Pal Singh
Former Chairman – DLF Ltd. Net Worth – $8.8 Billion Industry – Real Estate
Kushal Pal Singh, Chairman Emeritus of DLF | Top Richest Indians
Kushal Pal Singh is the former CEO and chairman of DLF Limited. DLF Ltd. (Delhi Land and Finance) is India’s largest commercial real estate developer. DLF Limited was founded by his father-in-law Chaudhary Raghvendra Singh.
Singh was honoured with Padma Bhushan Award on 26 January 2010 by the Government of India. He was recognized by Forbes magazine as the richest real estate baron and the eighth richest person in the world on 24 March 2008.
KP Singh was born on 15 November 1931 in Uttar Pradesh. He did Aeronautical Engineering in the UK and was also selected for the Indian Army by the British Officers Services Selection Board, UK. An Autobiography named ‘Whatever the Odds: The Incredible Story Behind DLF’ was launched in 2011.
Ashwin Dani
Non-Executive Director – Asian Paints Ltd. Net worth – $8.4 Billion Industry – Manufacturing
Ashwin Dani, Non-Executive Director of Asian Paints | Top Richest Indians
Ashwin Dani is a businessman and the non-executive Director of India’s largest paint company, Asian Paints Ltd. His full name is Ashwin Suryakant Dani. He won the Color Society Lifetime achievement award in the year 2012.
Ravi Jaipuria
Chairman – RJ Corp Net worth – $8.1 Billion Industry – Manufacturing
Ravi Jaipuria, Chairman of RJ Corp | Top Richest Indians
Ravi Jaipuria is an Indian billionaire businessman and Chairman of RJ Corp. Under RJ Corp, he manages Devyani International which operates many large beverage and fast food brands like KFC, Pizza Hut, and more.
Varun Beverages, the other listed company under RJ Corp, is the second-largest bottling partner for PepsiCo’s soft drink brands. Ravi is famously known as India’s cola king.
Kuldip Singh & Gurbachan Singh Dhingra
Owners – Berger Paints India Net worth – $6.8 Billion Industry – Manufacturing
Kuldip Singh (left) and Gurbachan Singh Dhingra, Berger Paints | Top Richest Indians
The brothers control India’s second-largest paint maker company, Berger Paints. Kuldip Singh and Gurbachan Singh bought Berger from Vijay Mallya. Kuldip Singh serves as the Chairman and Gurbachan Singh Dhingra serves as the Vice Chairman of Berger Paints India.
Vikram Lal
Founder – Eicher Motors Net Worth – $6.6 Billion Industry – Automotive
Vikram Lal, Founder and Former CEO of Eicher Motors | Top Richest Indians
Vikram Lal is the founder and former CEO of Eicher Motors which manufactures motorcycles and commercial vehicles. He is also the president of Common Cause, a public interest NGO pursuing major issues relating to reform, governance, and the enforcement of the law.
Eicher Motors is the parent company of Royal Enfield, a manufacturer of middleweight motorcycles. Eicher Motors holds a majority stake of 60% in Royal Enfield. His son Siddharth Lal is the current CEO of Eicher Motors and Royal Enfield.
Lal was born in 1942 in Delhi and presently lives in Delhi. He pursued his Bachelor’s in Mechanical Engineering from Technical University Darmstadt in West Germany. He is also on the board of directors of ‘The Doon School’. His NGO, Goodearth Education Foundation (GEF), has been working with state governments and other NGOs in primary education for more than 10 years.
Mahendra Choksi
Company – Asian Paints Net worth – $6.5 Billion Industry – Manufacturing
Mahendra Choksi is the son of one of the four co-founders of Asian Paints. Family patriarch Ashwin Choksi, under whom the fortune was previously listed, died in September 2018. Mahendra is the late Ashwin Choksi’s brother. Mahendra’s son, Manish, is the company’s non-executive vice chairman.
Murali Divi
Founder – Divi’s Laboratories Net Worth – $6.45 Billion Industry – Healthcare
Murali Divi, Founder of Divi’s Laboratories | Top Riches Indians
Murali Divi is a U.S.-trained scientist who founded generics maker Divi’s Laboratories 30 years ago as a drug research firm. Today, Divi’s Laboratories is among the world’s top suppliers of active pharmaceutical ingredients. The company’s revenue is estimated to be $1.2 billion in 2022.
Sudhir & Samir Mehta
Owners – Torrent Pharma Net worth – $6.4 Billion Industry – Healthcare
Sudhir and Samir Mehta, Torrent Pharma | Top Riches Indians
Sudhir Mehta and Samir Mehta changed the fortunes of a struggling Trinity laboratory by manifesting it into Torrent Pharma. Torrent has a solid presence in Russia, Brazil, and many other European countries. The Torrent group also tried its hands at generating electricity; today, Torrent Power has a 2,101 Mw generation capacity and distributes power to 2.76 million customers in parts of Gujarat.
Vinod & Anil Rai Gupta
Owners – Havells India Net worth – $6.3 Billion Industry – Manufacturing
Anil and Vinod Rai Gupta, Havells | Top Richest Indians
Havells was founded by Qimat Rai Gupta. Anil Rai is the son of Vinod Gupta (wife of the late Qimat Gupta). Together they own 60% of Havells India, their primary source of wealth. Havells makes everything—from electrical equipment and lighting products to washing machines and refrigerators. The company’s products are available in more than 60 countries in the world.
Hasmukh Chudgar
Founder – Intas Pharmaceuticals Net worth – $6.2 Billion Industry – Pharmaceuticals
Hasmukh Chudgar, Founder of Intas Pharmaceuticals | Top Richest Indians
With a net worth of $6.3 billion, Chudgar is placed at 28th position on the list of India’s richest persons. Hasmukh Chudgar founded the generics maker Intas Pharmaceuticals in 1977. Intas bought the Irish and UK assets of Israeli firm Teva Pharmaceuticals for $764 million in October 2016.
Benu Gopal Bangur
Chairman – Shree Cement Net Worth – $6 Billion Industry – Manufacturing
Benu Gopal Bangur, Chairman of Shree Cement | Top Richest Indians
The Bangur business empire came into existence in the year 1979. Gopal Bangur is the owner of Shree Cement, the leading cement producer in India. He is also the Chairman of the board of NBI Industrial Finance Co. Ltd. and the director of Khemka Properties Pvt. Ltd. Gopal is ranked 29th on the list of richest people in India by Forbes.
Benu Bangur holds a 65% stake in Shree Cement. Shree Ultra Ordinary Portland Cement, Shree Ultra Jung Rodhak, Bangur Cement, and Tuff Cemento 3556 are the crown jewels of Shree Cement.
Bangur was born in 1931 in Kolkata to a Marwari business family. He is a widow with two children and currently resides in Kolkata. Benu has a Bachelor’s degree in Commerce from Calcutta University. He runs a Sanskrit school to promote Indian heritage and culture.
Rekha Jhunjhunwala
Company- Rare Enterprises Net Worth – $5.9 Billion Industry – Finance and Investments
Rekha Jhunjhunwala | Top Richest Indians
After Rakesh Jhunjhunwala’s (popularly referred to as the Indian Warren Buffet and the Big Bull of the Indian Share Market) death in August 2022, his wife, Rekha Jhunjhunwala replaced him on the list of India’s richest people. She inherited a valuable stock portfolio from her late husband and stands in the 30th position on Forbes India’s rich list. Their portfolio includes popular names like Titan, Star Health and Allied Insurance, Crisil, and more.
Murugappa Family
Company- Murugappa Group Net Worth – $5.8 Billion Industry – Diversified
M M Murugappan, Chairman of Murugappa Group | Top Richest Indians
The Murugappa family owns and manages the Murugappa Group, a conglomerate founded in 1900. The Group was founded by Dewan Bahadur A. M. Murugappa Chettiar. Murugappa Group is involved in diversified businesses like engineering, agriculture, financial services, and more. At present, M M Murugappan serves as the Chairman of the Group.
Harsh Mariwala
Chairman – Marico Net worth – $5.7 Billion Industry – Consumer Goods
Harsh Mariwala, Chairman of Marico | Top Richest Indians
Harsh Mariwala started Marico, the consumer goods company which deals in health and beauty products. Popular hair products like Set Wet, Livon, and Nihar are some of Marico’s offerings. Harsh Mariwala is also the founder of Kaya skincare Ltd. Mariwala’s net worth is $5.7 billion and he has been ranked as the 32nd wealthiest Indian by Forbes.
Vijay Chauhan
Chairman – Parle Products Net worth – $5.5 Billion Industry – Food and Beverage
Vijay Chauhan, Chairman of Parle Products | Top Richest Indians
Vijay Chauhan is the patriarch of the family that controls Parle Products. He serves as the chairman of the company. Parle Products Company was founded in 1929 by Mohanlal Chauhan. The company is famous for its most popular product, Parle G glucose biscuits. At present, he, along with Raj Chauhan and Sharad Chauhan, controls and manages the company.
Founders – Macleods Pharmaceuticals Net Worth – $5.45 Billion Industry – Healthcare
Girdhari Lal (in picture), Rajendra Agarwal, and Banwari Lal Bawri, Macleods | Top Richest Indians
Girdhari Lal Bawri, Rajendra Agarwal, and Banwari Lal Bawri belong to a family that owned a pharmacy in Jaipur and made anti-TB medicines. The privately held company, Macleods Pharmaceutical, now produces generics for a range of diseases, including asthma, osteoporosis, and diabetes. Agarwal, the youngest sibling, is a qualified doctor and the company’s managing director. Older brothers Girdhari Lal and Banwari Lal are chairman and joint managing director respectively.
M.A. Yusuff Ali
Founder – LuLu Group International Net worth – $5.4 Billion Industry – Fashion and Retail
M.A. Yusuff Ali, Founder of LuLu Group International | Top Richest Indians
M.A. Yusuff Ali is the founder and MD of LuLu Group International. The Lulu Group owns various malls and hypermarkets all around the world. After completing his studies, Yusuff shifted to Abu Dhabi and joined his uncle in his business. He launched the first Lulu store in 1990 and hasn’t looked back since then. The business tycoon is aggressively expanding his chain of malls in India with states like Kerala being the entry point.
Vakil Family
Company – Asian Paints Net worth – $5.2 Billion Industry – Manufacturing
Nehal Vakil (in picture) Vakil Family, Asian Paints | Top Richest Indians
Abhay Vakil, the son of Arvind Vakil (one of the co-founders of Asian Paints), was an Indian billionaire businessman and a non-executive director of Asian Paints Ltd. Brothers Abhay and Amar Vakil passed away in the year 2021, and now the third generation of the Vakil family runs Asian Paints. Nehal Vakil, Abhay Vakil’s daughter, became a non-executive director of the company after her father’s demise.
The Vakil Family stands at the 36th position on the Forbes list of the richest Indians in 2022.
Mangal Prabhat Lodha
Founder – Macrotech Developers Net worth – $5.1 Billion Industry – Real Estate
Mangal Prabhat Lodha, Founder of Macrotech Developers | Top Richest Indians
Mangal Prabhat Lodha is an Indian businessman and politician. He founded Lodha Group, now Macrotech Developers, a Mumbai-based real estate developer in 1980. He started the group by building middle-class homes in Mumbai’s suburbs.
He is the Minister of Ministry of Tourism, Ministry of Skill Development and Entrepreneurship, Maharashtra. He was also the president of the Bharatiya Janata Party’s Mumbai unit.
Kapil & Rahul Bhatia
Company – InterGlobe Enterprises Net worth – $4.9 Billion Industry – Service
Kapil and Rahul Bhatia (in picture), IndiGo Airlines | Top Richest Indians
Rahul Bhatia is the co-founder and non-executive director of IndiGo airlines. He is also the group managing director of InterGlobe Enterprises. It is a privately held firm which has vested interests in the airline, travel, and hotel segments. He won awards such as the Ernst & Young Entrepreneur of the Year Award and the Economic Times Entrepreneur of the Year award. Kapil Bhatia is Rahul Bhatia’s father and the joint owner of InterGlobe Aviation. The father-son duo’s net worth is $4.9 billion, as of 2022.
Pavan and Vivek Jain
Company – INOX Group/ INOXGFL Group Net worth – $4.55 Billion Industry – Manufacturing
Pavan and Vivek Jain, INOX | Top Richest Indians
In 2021, Devendra Jain divided the family’s assets in Inox Group between his two sons, Pavan and Vivek Jain. Pavan is the elder son and serves as the Chairman of the Inox Group, which includes medical gas maker Inox Air Products and movie theatre chain Inox Leisure Ltd. Vivek on the other hand is chairman of the InoxGFL group which includes chemical maker Gujarat Fluorochemicals; Inox Wind and wind farm maintenance company Inox Green Energy Services.
Singh Family
Company – Alkem Laboratories Net worth – $4.5 Billion Industry – Healthcare
Singh Family, Alkem Laboratories | Top Richest Indians
The Singh family inherited a majority stake in Alkem Laboratories after its founder Samprada Singh passed away in July 2019. Alkem Laboratories is one of the top generics companies in India with more than 20 factories across India and the US. At present, Basudeo Narain Singh, Singh’s cousin is the Executive Chairman of the company.
N.R. Narayana Murthy
Company – Infosys Net worth – $4.3 Billion Industry – Technology
N.R. Narayana Murthy, Infosys | Top Richest Indians
N.R. Narayana Murthy is one of the founders and chairman emeritus of the Indian multinational information technology company, Infosys. He served as the CEO, Chairman, President, and chief mentor of the company before his retirement. Time magazine and CNBC have described Murthy as the “father of the Indian IT sector” for his great contribution to outsourcing in India.
He has also been honoured with the Padma Vibhushan and Padma Shri, the prominent civilian awards of the Republic of India.
Ramesh Juneja
Company – Mankind Pharma Net worth – $4.2 Billion Industry – Healthcare
Ramesh Juneja, Chairman of Mankind Pharma | Top Richest Indians
Ramesh Juneja co-founded Mankind Pharma, one of the leading pharmaceutical companies in India, with his brother Rajeev Juneja in 1995. He is currently the Chairman of Mankind Pharma. Ramesh Juneja has held different positions in many pharmaceutical companies in India, like KeePharma Ltd., Lupin, etc.
He is now one of the richest Indians, ranking 42nd on the Forbes List of the Top 100 Richest Indians, 2022.
P.P. Reddy
Chairman – Megha Engineering & Infrastructure Net worth – $4.1 Billion Industry – Engineering and Infrastructure
P.P. Reddy, Chairman of Megha Engineering & Infrastructure | Top Richest Indians
Megha Engineering & Infrastructure was founded in 1989 by P.P. Reddy, a farmer’s son, to make small pipes for the municipality. P.P. Reddy later expanded his business to build infrastructure projects. His nephew, P.V. Krishna Reddy, who joined P.P. Reddy in 1991, runs the company.
Falguni Nayar
Founder – Nykaa Net worth – $4.08 Billion Industry – Beauty and Lifestyle
Falguni Nayar, Founder and CEO of Nykaa | Top Richest Indians
Falguni Nayar is an Indian businesswoman who is famously known as the founder and CEO of Nykaa, the leading beauty and lifestyle retail company in India. Nayar founded Nykaa in 2012 with $2 million of her own money, and by 2020, it had become India’s first unicorn startup led by a woman. Nykaa opened its IPO in October 2021, which made Nayar the first Indian woman to lead the public listing of a startup.
Falguni has a net worth of $4.08 billion (2022) and is one of the two self-made female Indian billionaires, the other being Kiran Mazumdar Shaw.
Muthoot Family
Company – Muthoot Finance Net Worth – $4.05 Billion Industry – Financial Services
Muthoot Family | Top Richest Indians
Muthoot Group was founded in 1887. India’s leading lender against gold, Muthoot Finance, is managed and controlled by the Muthoot family. Shri George Jacob Muthoot is the current group chairman of the Muthoot Group of companies.
Chandru Raheja
Company – Mindspace Business Parks REIT (backed by K Raheja Corp.) Net Worth – $4 Billion Industry – Real Estate
Chandru Raheja, Chairman of K Raheja Corp. | Top Richest Indians
Chandru Raheja is an Indian billionaire businessman and the chairman of K Raheja Corp. He formed K Raheja Corp. in 1996, which is involved in the development of IT parks, hotels, and malls, as well as the operation of department store chains such as Shoppers Stop. The company’s important projects include JW Marriott in Mumbai, Inorbit Mall, Mindspace, etc.
Yusuf Hamied
Non-Executive Chairman – Cipla Net worth – $3.9 Billion Industry – Pharmaceuticals
Yusuf Hamied, Non-Executive Chairman of Cipla | Top Richest Indians
Cipla was founded in 1935 by Yusuf’s father Khwaja Abdul Hamied, who passed away in 1972. Yusuf Hamied and his brother then took over the family business. In 2020, Cipla launched a range of drugs to treat Covid-19, including a generic version of Remdesivir manufactured under a license from Gilead Sciences.
Sridhar Vembu and Siblings
Company – Zoho Corporation Net worth – $3.8 Billion Industry – Technology
Sridhar Vembu (in picture) and Siblings, Zoho Corporation | Top Richest Indians
Sridhar Vembu is the founder and CEO of Zoho Corporation, a technology company that makes computer software and web-based business tools. Sridhar owns a majority stake in Zoho with his siblings.
Vembu was awarded the Padma Shri, the fourth-highest civilian award of the Republic of India, in 2021.
Pankaj Patel
Chairman – Zydus Lifesciences Net worth – $3.77 Billion Industry – Pharmaceuticals
Pankaj Patel, Chairman of Zydus Lifesciences | Top Richest Indians
With the title of “Best Pharma Man of the Year 2003” under his belt, Pankaj Patel undoubtedly deserves the respect he gets. Pankaj is popularly known as a “pharma magnate.” He is the current chairman of Zydus Lifesciences Limited, the leading pharmaceutical company in India. He is also the founder and chairman of Zydus Hospitals.
Ravi Modi
Company – Vedant Fashions Net worth – $3.75 Billion Industry – Fashion and Retail
Ravi Modi, Founder of Vedant Fashions | Top Richest Indians
Ravi Modi founded Vedant Fashions, a manufacturer of Indian ethnic wear, in 2002, and the company went public in 2022. He serves as the Chairman and Managing Director of the company. The company’s flagship brand, Manyavar, is famous all over India and is the category leader in the branded Indian wedding and celebration wear market.
