Four billionaires debut on rich list after IPOs

• The bull run in Indian equities that continued from mid-2020 up until late 2021 made good money for many investors and promoters along the way.
• Companies like Latent View Analytics, MapmyIndia were amongst IPOs that made huge profits for investors.
• Promoters of these firms added to their wealth through the successful IPOs and are now among India’s richest squad.

The robust market for initial public offerings in 2021 has made fortunes for many investors as over 60 companies got listed on exchanges during the year. Companies like Latent View Analytics, MapmyIndia were amongst IPOs that made huge profits for investors.

The bull run in Indian equities that continued from mid-2020 up until late 2021 made good money for many investors and promoters along the way. Analysts say the IPO frenzy is over and may remain still for some time.

“I think the market flies but not for every company, for good companies there is still enough demand because overall sentiment of the market has changed. The IPO frenzy is now over as there has been a bit of mismatched expectations of promoters and investors who are asking for a fairly low value. Therefore promoters are thinking if they should list now or wait,” said Yatin Shah, co-founder & joint CEO at IIFL Wealth.

“This reconciliation factor, which is clearly seen among many founders and promoters which were thinking of the next value and today they are not getting that. This is specially for tech companies where 100% new demand is not there. This phase will continue for some time,” added Shah.

Chairperson of data and analytics company registers a wealth of ₹5,500 crore post stellar IPO listing gains

The IPO boom helped even chairperson and executive director, AV Venkatraman of LatentView Analytics aged 52 to enter the list of India’s richest man. Venkatraman is the richest new entrant in this software & services sector with a wealth of ₹5,500 crore, as per IIFL Wealth Hurun India Rich List 2022 report.

For those who don’t know, shares of Latent View Analytics made a strong listing on the National Stock Exchange (NSE) and BSE as it more than doubled investors' money by listing at 169% premium over the issue price. Interestingly, the company’s IPO witnessed one of the highest subscriptions by 326 times.

The 15-year old company provides analytics services such as data and analytics consulting, business analytics and insights, advanced predictive analytics, data engineering, and digital solutions.

Surat based company’s boss becomes richest man post IPO listing

Another IPO star is Ashwin Desai aged 71, founding promoter and MD of Aether Industries, which was launched in 2022 when the IPO frenzy was almost over. Desai debuted on the list of rich individuals with a wealth of ₹10,300 crore.

The company managed to get listed on the Indian exchanges at a 9.99% premium supported by positive market momentum. Aether Industries — which is based out of Surat, Gujarat — focuses on producing advanced intermediates and specialty chemicals involving complex, differentiated chemistry and technology core competencies.

Founder of digital maps company now among richest people in India with ₹4,300 crore wealth

Rakesh Kumar Verma, founder & MD of CE Info Systems the parent company of MapmyIndia secured the 371 spot in IIFL Wealth Hurun India Rich List 2022. Verma has a wealth of ₹4,300 crore.

MapmyIndia, a pioneer in digital maps debuted on exchanges last year with a 53% premium. The IPO received strong response from investors as it was subscribed 154.71 times.

The company is one of its kind that builds digital map data, telematics services, location-based software-as-a-service (SaaS) and geographic information system (GIS) services.

First defence and aerospace entrepreneur to feature in the list of richest people after hit IPO

Chief executive director of Chennai-based Data Patterns, Rangarajan S aged 64 is the first defence and aerospace entrepreneur to feature in the list. Rangarajan has registered a wealth of ₹2,700 crore.

Data Patterns, an electronic solutions provider for the defence and aerospace segment, also made a strong debut on exchanges last year. The company’s shares were listed at 40% premium on exchanges after getting subscribed 119 times by investors.

Incorporated in 1985, Data Patterns is an integrated defence and aerospace electronics solutions provider that caters to requirements across space, air, land and the sea.

Data Patterns is among the top two players — in terms of profitability — providing solutions to the defence sector, first being Bharat Electronics.


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