The 38-year year old founder of Ola Electric, Bhavish Aggarwal, who recently made headline of the IPO and the listing of his company in the the Indian headline indices, is poised to enter the rank of the world's youngest billionaire.
Aggarwal's Net Worth
Following the recent listing of his company (August 9), according to the Bloomberg Billionaires Index, Aggarwal's net worth is expected to surge to a staggering USD 2.6 billion, that is approxmately Rs 2,18,28,56,00,000 ( around Rs 21,828.56 Crore), making him one of the wealthies enterpreneurs under 40 globally.
Prior to the public issue, Aggarwal held a 36.94 per cent stake in Ola Electric Mobility Limited, totaling over 1.36 billion shares. But after the IPO listing in the India headline indices on Friday, even after selling a portion of his shares, his remaining stake is valued at Rs 11,816 crore which is approximately USD 1.44 billion.
This sudden boost in the stock price after the listing of the company added a whopping USD 1.2 billion to his wealth, marking his position among India's billionaire elite, as per reports.
About the IPO - That Changed Everything
Aggarwal led Ola Electric IPO was held from August 2 to August 6. The company got listed in the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on August 9.
On NSE, the stock quoted Rs at a price of Rs 76 apiece and on BSE it was listed for Rs 75.99 each, with a 0.01 per cent discount.
Despite the cautious start, the stock quickly maintained a momentum. During the early trading hours, the shares of the company surged by 16 per cent, pushing Aggarwals net worth to USD 2.6 billion.
Aggarwal’s Place Among the World’s Youngest Billionaires
This rapid ascent in wealth placed him in an exclusive club of billionaires under 40 and is now one of onlu seven individual globally to achieve the status before turning 40.
As per reports, his net worth is now pegged at USD 2.6 billion.
About Ola Electric Mobility
Founded in 2017, Ola Electric quickly rose to prominence in the electric vehicle (EV) sector, which is seen as many as one of the emerging market now-a-days.
