It’s official now: Gautam Adani has beaten Mukesh Ambani to become Asia’s richest person.
We will share how this happen.
But at the same time, the Adani Wilmar IPO had a pretty weak opening, before stabilizing a bit.
More details here..
Gautam Adani Beats Mukesh Ambani
As per the latest data from Bloomberg Billionaires Index, Adani Group owner Gautam Adani has now become richer than Reliance MD Mukesh Ambani.
As per the Bloomberg Billionaires Index, 59-year old Gautam Adani has a wealth of $88.5 billion, compared to $87.9 billion of Mukesh Ambani, thereby becoming the richest person in India and Asia.
Gautam Adani witnessed a massive jump of $12 billion in his wealth, in the last 12 months, which makes him the fastest growing billionaire in India.
Besides coal, Adani Group has now ventured into renewable energy, airports, data centers and defense contracting, thereby pushing the boundaries and generating more wealth for owner Gautam Adani.
Due to Adani Group’s focus on green energy and infrastructure, some of the stocks of Adani Group have grown more than 600%, showcasing the investor’s confidence and trust.
Adani Wilmar IPO Sees Weak Opening
Adani Wilmar, the much awaited IPO from the Adani Group proved to be an anti-climax, as the shares debuted on Tuesday at Rs 227, a discount of 1% compared to the original IPO price of Rs 230.
Investors were expecting a massive jump in the opening price to book profits, but that didn’t happen.
However, later, investors jumped in, and the share prices jumped to Rs 250 per share.
Santosh Meena, Head of Research, Swastika Investmart Ltd said, “The tepid listing of Adani Wilmar can be attributed to weak market sentiments otherwise fundamental and valuations were good for this IPO. Those who applied for listing gain can maintain a stop loss of 200 while long-term investors should hold it. New investors can also look at buying opportunities at initial weakness,”
We will keep you updated, as more details come in.
Comments are closed, but trackbacks and pingbacks are open.