Bajaj Housing Finance debut boosts Bajaj Group’s market capitalisation

A stellar market debut of Bajaj Housing Finance  Ltd (BHFL) on Monday helped the Bajaj Group reduce its market capitalisation (mcap) gap with the Adani group. BHFL’s mcap stood at Rs 1.37 trillion on Monday, more than double its initial public offering price-based valuation of around Rs 58,300 crore. This added more than 10 per … Read more

Billionaire Mukesh Ambani to open family office in Singapore

Asia’s second-wealthiest man, Reliance Industries Ltd. Chairman Mukesh Ambani, is setting up a family office in Singapore, according to people familiar with the move. The Mumbai-based billionaire has picked a manager to hire staff for the new entity and get it running, the people said, asking not to be identified because the matter is private. … Read more

The Mukesh Ambani-Gautam Adani rivalry is about to get intense

Mukesh Ambani and Gautam Adani tiptoed around each other for years to reach the top two rungs of Asia’s wealth ladder. While one of them built an empire in telecom and retail, the other established a lock on transport and energy distribution. Increasingly, though, the two billionaires from India’s Gujarat state are starting to overlap, … Read more

Billionaire Gautam Adani overtakes Mukesh Ambani as Asia’s richest person

Gautam Adani, the Indian billionaire who turned a small commodities trading business into a conglomerate spanning ports, mines and green energy, is now Asia’s richest person. The 59-year-old mogul’s net worth reached $88.5 billion on Monday, according to the Bloomberg Billionaires Index, eclipsing fellow countryman Mukesh Ambani’s $87.9 billion. With an almost $12 billion jump … Read more