New Delhi, Aug 19 : The demise of Indian billionaire Rakesh Jhunjhunwala has put an spotlight on the almost 4 billion dollars of shares held by the famous investor, Bloomberg reported.The man dubbed the Indian version of Warren Buffett died of a reported cardiac arrest on Sunday at the age of 62.The self-made investor invested in many different kinds of established companies and startups and was as the chairman of many Indian companies.
Jhunjhunwala was one of the most prominent market figures in Asia’s third largest economy, with an intense following among the nation’s growing number of investors who are retail.
His success in investing led to him having a cult-like fan base, with news of his trades often triggering stocks to exceed their daily limit, Bloomberg reported.
The man who was also known as “Big Bull” was a staunch supporter of the India growth story.
Jewelery retailer Titan was one of the biggest and best-returning investments made by the experienced trader and wife Rekha Jhunjhunwala.It accounted more than three-quarters of their assets, according to figures that was compiled by Bloomberg.
Other top holdings according to market value are Star Health, footwear maker Metro Brands and automaker Tata Motors.Jhunjhunwala owned stakes of more than 10 percent in Star Health, IT firm Aptech and videogame maker Nazara Technologies.
According to reports, Jhunjhunwala’s assets, including property and shares will be passed on to his wife and three children.
Jhunjhunwala’s investment company, Rare Enterprises – coined from the initial two letters of his and his wife’s names – will be managed by the present management team, led by Utpal Sheth and Amit Goela, according to reports.
“True to his character and unwavering eye for precision, he had planned and carefully carried out a smooth transition to preserve and build on his legacy.” Rare Enterprises Pvt Jhunjhunwala’s investment business announced in an announcement.
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