- Ignatius Navil Noronha, CEO of Avenue Supermarts which runs D-Mart stores, has emerged as the wealthiest Indian CEO with more than Rs 3,100 net worth of crore.
- Aditya Puri, Managing Director of HDFC Bank, was second on the list of the richest non-promoter professionals, with a net value of Rs 943
If you are wondering that CEOs & CFOs of these swanky startups are the coolest and richest, I want you to take a breath and look carefully, the wealthiest Indian CEO comes from the traditional groceries and retail business. Not an alumnus of illustrious IIT+IIM combo or not a tech whizkid, Ignatius Navil Noronha, CEO of Avenue Supermarts which runs D-Mart stores, has emerged as the country’s richest professional with more than Rs 3,100 net worth of crore.
His boss Radhakishan Damani, the reclusive founder of Avenue Supermarts, is now the second-richest person in India with a net worth of $17.8 billion, next to Mukesh Ambani alone. Ramakant Baheti, DMart’s CFO with Rs 666 crore-value shares, is now India’s third-richest on the top professional list. The net-worth figures are, of course, purely based on the shares they own in the companies they run, and these estimates do not include salaries and other aspects of compensation.
Aditya Puri, Managing Director of HDFC Bank, was second on the list of the richest non-promoter professionals, with a net value of Rs 943. Ramakant Baheti, Chief Financial Officer (CFO)-Avenue Supermarts, with a net worth of Rs 666 crore, was the third on the list. CP Gurnani, Chief Executive Officer (CEO)-Tech Mahindra, ranked fourth on the Rs 594 crore net-value list, the report said.
Avenue Supermarts ‘ founder and promoter Radhakishan Damani is India’s second-wealthiest person. According to the Forbes Real-Time Billionaires List. With a total wealth of $17.9 billion, businessman and retailer Radhakishan Damani is just behind Reliance Industries Ltd. chairman Mukesh Ambani, who is not only the richest man in India but also Asia, according to Forbes ‘ Real-Time Billionaires List. Radhakishan Damani and his family saw a rise of about $96 million in their fortunes on Friday, an increase of 0.54 percent. Mukesh Ambani, by comparison, has a total net worth of $57.9 billion
Recently, Avenue Supermart approved a qualified institutional placement (QIP) to increase around Rs 4000 crores. Avenue Supermarts shares reached an all-time high on BSE on February 13, at Rs 2,559 apiece. On February 5th, the company had reported a share sale to institutional investors. The backers have said they’re going to sell up to 2.28 percent of the stake through a sales offer (OFS).
