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Suzlon Energy's promoter Tulsi R Tanti has emerged the fourth richest Indian with a net worth of Rs 15,086 crore, displacing Shiv Nadar of HCL Technologies. Nadar, with a net worth of Rs 13,907 crore, is now in the fifth position.
Suzlon Energy went public in September through a 100 per cent book-built issue carrying a price band of Rs 425 to Rs 510 a share. The issue was oversubscribed 51 times and Suzlon was listed on October 19 at Rs 692.
On the day of listing, Tanti's 69.78 per cent holding in Suzlon was valued at Rs 13,901 crore. At today's price of Rs 750 a share, the market value is over Rs 15,000 crore.
Tanti, a textile baron, had commissioned a wind energy solution for his company a decade back. Convinced about the economics of the deal, he later decided to venture full-steam into the business.
A commerce graduate and a diploma holder in mechanical engineering, Tanti, 47, has built an empire in the wind energy business. Suzlon Energy is the sixth largest wind energy company in the world and the largest in Asia.
Azim Premji, adjudged the richest Indian by the Business Standard Billionaire Club on November 9, continues to top the list with a net worth at Rs 47,456 crore at today's market price of Wipro. The Ambanis remain at the number two slot with a net worth of Rs 43,458 crore while the Bharti group's Sunil Mittal, with his current net worth of Rs 31,120 crore, occupies the number three position.
Dilip Shanghvi of Sun Pharma has slipped to the number six position and Naresh Goyal of Jet Airways to the seventh slot.
Malvinder and Shivinder Singh of Ranbaxy Laboratories, who were ranked seventh, have exited the list of the top 10 richest Indians.
Sterlite Industries' Anil Agarwal, with a net worth of Rs 7,177 crore, has climbed to the eighth position from ninth. Kumar Mangalam Birla is down by a notch to the ninth position.
Rahul Bajaj remains at the number 10 slot among the richest Indians.
