IPO, startup boom beneficiaries swarm IIFL Wealth Hurun rich list of 2021

As many as 229 new names appeared on the IIFL Wealth-Hurun India list of richest Indians for this year, and a glance at the tops names showed they are the direct beneficiaries of the recent IPOs and a rising number of unicorns in the country.

The IIFL Wealth Hurun India Rich List 2021 added a record 229 new faces from 34 industries and 48 cities. The chemicals & petrochemicals sector contributed the largest number of new entrants with 42 new additions, followed by software & & services (33) and construction & engineering (15). Many of them are new dollar billionaires.

Nakul Aggarwal and Ritesh Arora, founders of the startup BrowserStack, had wealth at Rs 12,400 crore each as per the list, making them the richest new entrants to the list.

BrowserStack, valued at $4 billion as of the latest funding round, claims to be the world’s leading software testing platform, powering over two million tests every day across 15 global data centers. It counts Microsoft, Twitter, Barclays and Expedia among its top clients.

Similarly, Neha Narkhede & family of Confluent, a streaming data technology company, emerged the second richest new entrants with wealth at Rs 12,200 crore. With similar wealth, G Amarender Reddy & family of GAR, which makes office buildings in South India, is another new entrant.

Among other names on the list are Naveen Tewar of InMobi, which may see an investment from Reliance Industries; Ashwin Damera of Eruditus Executive Education; Ajaykumar Mansukhlal Patel of recently listed Tatva Chintan Pharma Chem and Ashok Ramnarayan Boob & family of another Dalal Street debutant Clean Science and Technology.

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The Economic Times