Thursday, August 12, 2004

(Sunil) Mittal, (Shiv) Nadar Capital’s wealthiest

Bharti Tele-ventures, which is ranked sixth in the market capitalisation sweepstakes on Indian bourses, has catapulted its promoter Sunil Bharti Mittal to the top of the Delhi rich list.

His shareholding in Bharti makes him worth over $2 billion. Using CMIE data, the Hindustan Times has put together a list of Delhi’s wealthiest based on the promoter’s shareholding and the market capitalisation of the company.

Tech visionary Shiv Nadar who lives in Sacremento emerges as the number two on the list through his shareholding in HCL Tech and HCL Infosystems. He is ranked second behind Mittal (Rs 10,437 crore) with personal wealth of Rs 8,226 crore. Brothers Malvinder Mohan and Shivender Mohan with the help of various investment companies emerge as number three followed by the Hero Group's Munjals.

Many of Delhi’s high-profile business families — Burmans of Dabur, O.P. Jindal family, Jaiprakash Gaur, Prithvi Raj Singh Oberoi and Gautam Thapar are all part of the A list. Some like Gaur and Oberoi have their registered offices outside Delhi, but reside in the capital.

Interestingly, the gap between the top three and the rest is extremely large. Assets are not part of the computation, as only the stockmarket's wealth has been considered for this exercise which is the global paradigm for this purpose.


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