Anil Agarwal set to pip Mukesh Ambani as richest Indian

The proposed takeover of Cairn Energy's India business could see NRI billionaire Anil Agarwal emerging as the richest promoter of a corporate house ahead of Mukesh Ambani, who has ruled the list for long. After the acquisition of Cairn India and a proposed IPO of group firm Sterlite Energy, Anil Agarwal, as head of the promoter family, would command an estimated networth of close to Rs. 1,67,000 crore, ahead of Mukesh Ambani at Rs. 1,45,275 crore, a comparison of promoter family holding valuations for leading groups reveals.

However, Mukesh-led RIL is a wealthier group than Agarwal''s Vedanta, although both are behind the Tatas, whose market capitalisation in terms of listed entities is over Rs. 3,70,000 crore. However, in terms of promoters'' wealth, Tata group chief Ratan Tata hardly compares to either Mukesh or Agarwal.

In their own respective fields of business, Agarwal is a global leader in the metals and mining, while Mukesh is among the top-ranked international players in the fields of petrochemicals and largest private sector oil group in India. Agarwal is now entering oil business through the Cairn India acquisition and his capacity to play to the size could now make competition intense in oil sector.

At the same time, the acquisition would give the Agarwal family double the size of Anil Ambani group (whose promoter wealth currently stands at less than Rs. 80,000 crore). The $9.6 billion takeover of Cairn India has already pushed Vedanta group head Anil Agarwal to the second position after Mukesh Ambani in terms of family net worth, measured in terms of value of shares held as promoters in five listed group companies.

Add to this, the value of shares he holds in aluminium major Balco and IPO-bound group firm Sterlite Energy, the promoter family wealth of Anil Agarwal group could rise to nearly Rs. 1,66,938 crore. In comparison, the promoter family wealth of Mukesh Ambani group currently stands at Rs. 1,45,276 crore, based on the value of promoter holdings in two listed group firms Reliance Industries and Reliance Industrial Infrastructure.

Without Sterlite Energy, which has proposed an initial public offer of Rs. 5,100 crore, and Balco, where Vedanta group has 51 percent stake, the total promoter family networth of the Vedanta group currently stands at Rs. 1,38,465 crore. This includes the value of promoter shares in Sterlite, Hindustan Zinc, Sesa Goa (all listed in India) and that in UK-listed Vedanta Resources, as also the worth of proposed 60 percent stake in Cairn India proposed to be purchased from Scotland-based Cairn Energy.

The total networth would rise by over Rs. 28,000 crore if Balco is taken at par with its peer group company Nalco, which has a market cap of Rs. 25,830 crore, and the group offloads 25 percent stake in Sterlite Energy to raise Rs. 5,100 crore.