Ranked 737 in the Forbes global billionaire list with personal wealth of $2.4 billion, Yusuffali's diversification does not stop here.
Becks Krishnan was saved by prominent NRI businessman and philanthropist M A Yusuffali who helped to pay his "blood money" amounting nearly Rs 1 crore.
Lulu Retail announced on Wednesday that its initial public offering (IPO) was oversubscribed 25 times across all tranches, excluding cornerstone investors, generating demand exceeding $37 billion-a record for a private sector IPO in the United Arab Emirates. The company is controlled by Kerala-based business tycoon MA Yusuff Ali. The final offer price for Lulu shares was set at AED 2.04 per share, raising a total of $1.72 billion (AED 6.32 billion), making it the largest IPO in the UAE in 2024 to date.
The mall in Kochi will have about two million square feet of retail area and following its completion, the group has plans to develop more malls across India gradually. Emke Group controls roughly a third of the UAE's organised retail market and is planning to invest 4.3 billion dirhams (Rs 57.19 billion) to expand its network of 75 supermarkets and hypermarkets to 100 within the next three years.
