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Relaxo's Dua to PI's Singhal, 2019 billionaire club has 10 new entrants

10 promoters entered the billionaire list in 2019; Anil Ambani, Subhash Chandra among big names who left the club

Krishna Kant  |  Mumbai 

As the broader market swung from losses in the first nine months to gains in the last quarter, there was a big churn in India’s Billionaire Club. In all, 10 promoters entered the billionaire list in 2019, as share price of their companies rallied after the cut in corporation tax.

At the other end of the spectrum, 12 promoters exited the billionaire list this year, either due to a slump in their companies’ market capitalisation (m-cap) or stake sell by them due to debt issues. Ramesh Kumar Dua of Relaxo Footwears, Mayank Singhal of PI Industries, and Irfan Razack of ...

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First Published: Mon, December 30 2019. 21:01 IST
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