With wealth totalling ₹13,800 crore, Trident’s Rajinder Gupta is richest in Punjab
Punjab ranks 13th among 20 states and union territories in the country, in the recently unveiled IIFL Wealth Hurun India Rich List 2022; in all, seven industrialists belonging to Punjab figure in this list of 1,103 Indians across 122 cities in the country. Incidentally, all seven are from Ludhiana, the financial capital of the state.
Rajinder Gupta, founder and currently ‘chairman emeritus’ of the Trident Group, one of the leading textile groups in the state, is Punjab’s richest person with an estimated wealth of ₹13,800 crore. This was revealed in the recently unveiled IIFL Wealth Hurun India Rich List 2022.
In all, seven industrialists belonging to Punjab figure in this list of 1,103 Indians across 122 cities in the country. Incidentally, all seven are from Ludhiana, the financial capital of the state.
One must possess a minimum of ₹1,000 crore to make it to this list.
Punjab ranks 13th among 20 states and union territories in the country. Neighbouring Haryana is five ranks ahead, at the 8th position, with 29 industrialists from the state. As many as 18 of them are from Gurugram.
While Gupta, who recently stepped down from the board of directors of Trident Group citing health and family issues, ranks 127th in the country, SP Oswal of Vardhman textiles stands second in Punjab with wealth totaling ₹4,600 crore. Oswal ranks 349th in the country.
The third richest in Punjab is Paritosh Kumar and family of Happy Forgings with an estimated wealth of ₹3,900 crore. Happy Forgings has established itself as a prominent player in auto component business. Paritosh ranks 411 in the country as per the rankings.
Manufacturers and exporters of Steel Forgings -- RN Gupta & Co, owned by Ludhiana’s Avinash Gupta and family, with an estimated wealth of ₹2,800 crore, are the fourth richest in the state and 531st in the country. They are followed by Avon Cycles Group owned by Onkar Singh Pahwa and family with an estimated wealth of ₹1,700 crore.
Sharing the fifth spot with Avon Cycles are Shiv Prasad Mittal and Family of Aarti Steels, an integrated steel manufacturing company with estimated wealth of ₹1,700 crore. Both Avon and Aarti Steels rank 763rd in the country.
The only food and beverage manufacturing group from Punjab to feature in the list - Bector Foods, owned by Anoop Bector and Family is the seventh richest in state with an estimated wealth of ₹1,200 crore. Ranked 950th in the country, the group was founded by Rajni Bector who started her journey in the 1970s by making ice creams in her backyard. The company has now gone up to become an IPO-listed business entity.
Incidentally, Pankaj Munjal, chairman and managing director of Hero Cycles, with an estimated wealth of ₹9,000 crore ranks 197th among country’s richest persons. However, even as the unit manufactures cycles in Ludhiana, Munjal’s place of residence has now shifted to New Delhi and thus his name features on the Delhi list.
The list also identified the cities housing the highest number of rich persons and Ludhiana ranks 16th in the country with seven entries. Mumbai tops the cities with 283 rich listers, followed by Delhi with 185 included in top richest in country.
