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DLF KP Singh displaces Premji as 4th richest Indian
By siliconindia
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Friday, 06 July 2007, 19:30 IST
Mumbai: With the shares of DLF Ltd debuting on the Bombay Stock Exchange at Rs 582 apiece, promoter and chairman Kushal Pal Singh becomes the fourth richest Indian. The listing was nearly 11 per cent above the issue price of Rs 525.
DLF is the first real estate company to become one of the top 10 Indian companies by market capitalisation and is ninth with a valuation of Rs 96,285 crore, based on the day's closing price of Rs 570. DLF's entry into the top 10 removes Bhel from the list.
By holding 87.43 percent of the equity, Singh's net worth is around 
84,968 crore, reported Business Standard. Singh displaces Wipro Chairman Azim Premji, who becomes fifth on the Indian rich list. On the National Stock Exchange, the DLF shares were listed at Rs 526, a Re 1 premium to the issue price.
With DLF's listing, India's ranking among Asia Pacific countries remained unchanged at sixth with a market capitalisation of $1.07 trillion. Japan tops the region with a market cap of $4.97 trillion, followed by Hong Kong ($2.09 trillion), China ($2.07 trillion), Australia ($1.16 trillion) and South Korea ($1.08 trillion).
India is likely to pip South Korea after the listing of a slew of new issues during the year. India's global ranking remains 16th, with a minuscule share of 1.55 per cent. The US tops the ranking with a market cap of $18.72 trillion.
84,968 crore, reported Business Standard. Singh displaces Wipro Chairman Azim Premji, who becomes fifth on the Indian rich list. On the National Stock Exchange, the DLF shares were listed at Rs 526, a Re 1 premium to the issue price.
With DLF's listing, India's ranking among Asia Pacific countries remained unchanged at sixth with a market capitalisation of $1.07 trillion. Japan tops the region with a market cap of $4.97 trillion, followed by Hong Kong ($2.09 trillion), China ($2.07 trillion), Australia ($1.16 trillion) and South Korea ($1.08 trillion).
India is likely to pip South Korea after the listing of a slew of new issues during the year. India's global ranking remains 16th, with a minuscule share of 1.55 per cent. The US tops the ranking with a market cap of $18.72 trillion.