markets incessant rise has encouraged companies to raise funds
from the public
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got the biggest raises? Which company was most generous?
BUT NOT MARKET MOVERS
ones who did not have to tap the market to get the numbers
definitive list of India Incs richest
of the best paymasters
we estimated wealth and earnings of billionaires
money, will spend seems to be the motto of the elite. Arati
Menon Carroll narrates this tale of yachts, paintings, cars...
now we all know India Incs appetite for acquisition. In just
the first four months of 2007, merger and acquisition agreements
worth $43 billion were signed by Indian companies, according to
a joint study by consultancy firm A T Kearney and Knowledge@Wharton,
a steep spike from the $28 billion-worth deal that were signed by
Indian companies in 2006.
is today home to Asias biggest playground of billionaires.
The latest Forbes list of global billionaires throws up as many
as 36 Indian names in this cosy league of the world's wealthiest,
replacing Japan as Asias top breeding ground for the super-rich.
This is 14 more than the number of Indians who had made it to the
Forbes list last year.
billionaires, it turns out, are big spenders. The Indian markets
propensity to consume luxury just keeps growing and those brands
that missed out on the first wave of establishing themselves in
the market are now fighting over the mindshare and wishlists of
Indias super rich. Gucci, that debuted in India (Mumbai) last
month, already reports waiting lists for some of their merchandise.
honchos come in and buy three or four Gucci loafers (approximately
Rs 20,000 each) at a time, says a source. As Tikka Shatrujit
Singh, Louis Vuittons Indian advisor puts it , Luxury
is no longer a dirty word. The Bvlgari showroom has already
more than doubled its space in New Delhi, Ferragamo launches next
and red carpet brands are taking trunk shows to Chandigarh and Ludhiana
to chase the big spenders.
while the spending is unabashed, the flaunting of it is still reluctant.
Some extravagances are easier to hide than others. A purchase of
a limited edition Louis Vuitton Suhali handbag can go unnoticed,
but when youre spending upwards of $2 million on a yacht or
Rs 1.5 crore on a Lamborghini, its a little harder to conceal.
Unconfirmed reports have it that Rajeev Chandrashekhar attempted
to disguise a red Ferrari 575 M as a taxi in Thiruvananthapuram
until he was forced to accept its inherent inconspicuity.
Gulf Craft Majesty 66 yacht, bobbing in the waters off the
Taj Mahal hotel in Mumbai, is a nifty plaything to have. The owner,
a young player in the Indian financial services sector (A little
birdie says it might be Indiabulls CEO Sameer Gehlaut), remains
is 20 metres long from stem to stern, and will ply you down the
coast to Goa if you have Rs 12,000 to spend on fuel bills by the
hour. How ironic that something so boastful cannot be shown
off, Erwin Bamps, a senior executive with Gulf Craft, the
yachts manufacturer, had commented on a recent marketing jaunt
Mumbais first international boat show, the potential trigger
to jump-starting the countrys marine industry and the citys
waterfront, an estimated Rs 40 crore exchanged hands. Saurashtra
Cements Jai Mehta was seen evincing interest in a 72-feet
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