Four billionaires make post-IPO rich list debut

Four billionaires make post-IPO rich list debut

A robust market for initial public offerings in 2021 has made a fortune for many investors as more than 60 companies have been listed on exchanges during the year. Companies like Latent View Analytics and MapmyIndia were among the IPOs that brought huge profits to investors.

The bull run in Indian stocks that continued from mid-2020 till the end of 2021 has made many investors and promoters good money. Analysts say the IPO frenzy is over and may continue for some time.

β€œI think the market is flying, but not for every company, there is still enough demand for good companies because the overall market sentiment has changed. The IPO frenzy is now over as there has been a bit of mismatched expectations from promoters and investors who are asking for a fairly low valuation. Hence, promoters are wondering whether they should list now or wait,” said Yatin Shah, co-founder and joint CEO, IIFL Wealth.

β€œThat atonement factor that’s clearly seen in a lot of founders and promoters who were thinking about the next value, and they’re not getting it today. This is specifically for tech companies where there is not 100% new demand. This phase will continue for some time,” added Shah.

Data and analytics firm’s chairman registers β‚Ή5,500 crore wealth after stellar IPO profit

The IPO boom even helped LatentView Analytics Chairman and CEO AV Venkatraman, at the age of 52, enter the list of India’s richest people. Venkatraman is the richest new entrant in the software and services sector with a fortune of β‚Ή5,500 crore, according to the IIFL Wealth Hurun India Rich List 2022 report.

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

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

The head of a Surat-based company has become the richest man after going public

Another IPO star is Ashwin Desai aged 71, founder promoter and MD of Aether Industries, which launched in 2022, when the IPO frenzy was almost over. Desai debuted on the list of wealthy individuals with a net worth of β‚Ή10,300 crore.

The company managed to get listed on the Indian stock exchanges with a premium of 9.99% supported by positive market momentum. Headquartered in Surat, Gujarat, Aether Industries focuses on manufacturing advanced intermediates and specialty chemicals comprising complex, differentiated chemical and technological core competencies.

The founder of the digital map company is now among the richest people in India with a net worth of β‚Ή4,300 crore

Rakesh Kumar Verma, founder and MD of CE Info Systems, the parent company of MapmyIndia, has been ranked 371 in the IIFL Wealth Hurun India Rich List 2022. Verma has a wealth of β‚Ή4,300 crore.

Digital mapping pioneer MapmyIndia debuted on the stock exchanges last year at a 53% premium. The IPO received a strong response from investors as it was subscribed 154.71 times.

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

The first defense and aerospace entrepreneur to appear on the post-IPO richest people list

Rangarajan S, aged 64, managing director of Chennai-based Data Patterns, is the first defense and aerospace entrepreneur to appear on the list. Rangarajan registered a wealth of β‚Ή2,700 crore.

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

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Founded in 1985, Data Patterns is an integrated defense and avionics solutions provider catering to space, air, land and sea requirements.

Data Patterns is among the two largest players – in terms of profitability – providing solutions to the defense sector, the first being Bharat Electronics.

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