Singh has joined Mukesh Ambani and his younger brother Anil in the elite club of India's rupee trillionaires, whose wealth measured in terms of their promoter holdings in various group companies also rose to about Rs 1,61,000 crore (Rs 1610 billion) and Rs 1,05,000 crore (Rs 1050 billion) respectively.
Following a 4.07 per cent jump in the share price of DLF, which today settled at Rs 673.05 at the Bombay Stock Exchange, Singh's net wealth rose to approximately Rs 1,01,250 crore (Rs 1012.50 billion) at the end of today's trading session.
According to the information available with the stock exchanges, the total promoter holding in the New Delhi-based DLF, represented by Singh, currently stands at 88.24 per cent.
Singh's stake has appreciated by over Rs 22,000 crore (Rs 220 billion) since the company's listing, while DLF's market cap has grown by over Rs 25,000 crore (Rs 250 billion) in the same period.
DLF was listed on the bourses on July 5 on a strong note, with the company's market cap crossing the Rs 1,00,000 crore (Rs 1000 billion) mark on the very first day in the intra-day trade.
However, the company achieved a closing market cap of Rs 1,00,000 crore only on July 12. Prior to the listing, Singh's stake was worth about Rs 79,000 crore (Rs 790 billion), based on an offer price of Rs 525 per share, at which the company sold its shares in its Rs 9,187.5 crore (Rs 91.87 billion) public issue, which is India's biggest IPO so far.
In dollar terms, Mukesh Ambani's net worth has risen to about 39.9 billion dollars, with most of it coming from his group's flagship company Reliance Industries, the country's most valued firm with a market cap of about Rs 2,66,300 crore (Rs 2663 billion). Besides, his direct and indirect holdings in RPL, IPCL and Reliance Industrial Infrastructure have also been considered.
Anil Ambani follows at second position with a net worth of about 26 billion dollars, by virtue of his stakes in companies like Reliance Communications, Reliance Energy, Reliance Capital, Reliance Natural Resources Ltd and Adlabs Films.
The two Ambanis are followed by Singh at the third position with a net worth of 25.1 billion dollars in the US currency terms, followed by Sunil Mittal of Bharti Airtel at fourth with over Rs 22 billion dollars and Wipro's Azim Premji at fifth with close to 14.6 billion dollars.
A sharp rally in the stock market, whose benchmark Sensex has appreciated by close to 55 per cent in the past one year, has added significant wealth to the kitty of investors with promoters of large bluechips garnering a significant portion by virtue of their holdings in these companies.
Earlier in March, US-based business magazine Forbes had ranked Mukesh Ambani as richest in India with a net worth of 20.1 billion dollars, Anil at second with 18.2 billion dollars, Premji at third with 17.1 billion dollars, Singh at fourth with 10 billion dollars and Mittal at fifth with 9.5 billion dollars of wealth.
Based on current market value of the group companies of the five billionaires, their collective net worth stands at about 127.7 billion dollars - representing a gain of over 70 per cent from about 75 billion dollars mentioned by Forbes.
Their collective wealth of about Rs 5,15,000 crore (Rs 5150 billion) represents over 11 per cent of the total investor wealth in the Indian equity market of about Rs 45,00,000 crore (Rs 45000 billion).
