Birth

Rakesh Jhunjhunwala was born on 5 July 1960 and grew up in a Rajasthani family, in Bombay, where his father (Radheshyam Jhunjhunwala) worked as an Income Tax officer.

Education

Mr. Jhunjhunwals is a graduate from Sydenham College of Commerce and Economics (Bombay) and thereafter enrolled at the Institute of Chartered Accountants of India (ICAI).

Occupation

By profession, Rakesh Jhunjhunwala is a Chartered Accountant and a stock market trader and investor.

Stock Market Journey

With a keen interest in the stock market, Mr. Jhunjhunwala started investing with INR 5000 capital in 1985.

The first big profit of Rakesh Jhunjhunwala was INR 5 lakh in the year 1986, where he bought 5000 shares of Tata Tea Ltd at INR 43 per share. In just 3 months of his buying Tata Tea share price surged from INR 43 to INR 143 odd levels.

Between 1986 and 1989, he earned almost INR 20 to 25 lakh of profit.

But, Rakesh Jhunjhunwala made his biggest fortune out of Titan share, where he first bought shares of Titan Ltd in the year 2002-2003 at a price of INR 30 to 32 per share. Since then, he keep purchasing and selling Titan shares. Jhunjhunwala owned Titan shares worth of INR 11,000 Cr plus with a stake of 5.10% or 4,48,50,970 shares in the company as per last quarter.

Rakesh Jhunjhunwala managed his own portfolio as a partner in his asset management firm, RARE Enterprises. Currently, stocks like Nazara tech, Tata Motors, and Titan besides many are found in rakesh jhunjhunwala portfolio

During his carrier, Mr. Jhunjhunwala has served as the chairman of Aptech Limited and Hungama Digital Media Entertainment Pvt. Ltd.

He also sat on the board of directors of Bilcare Limited, Concord Biotech Limited, Geojit Financial Services, Nagarjuna Construction Company Limited, Prime Focus Limited, Praj Industries Limited, Provogue India Limited, Viceroy Hotels Limited, and Tops Security Limited.

Akasa Air is the recent and last start-up by Mr. Jhunjhunwala where he co-founded the airlines with former Jet Airways CEO Vinay Dubey.

According to the Forbes data, rakesh jhunjhunwala net worth is estimated at INR 40,000 Cr (5.5 Billion USD) as of July 2022 and he is the 36th richest man in India.

Personal Life

Rakesh Jhunjhunwala married Rekha Jhunjhunwala on 22 February 1987 and there is a daughter Nishtha and twin sons Aryaman and Aryaveer in rakesh jhunjhunwala family.

Demise

On 14 August 2022 morning, Mr. Jhunjhunwala admitted to Breach Candy Hospital (Mumbai) due to uneasiness in health and later on declared died. Doctors at the hospital reported that he suffered from kidney and cardiac related issues.

RIP the legend!

The person who teaches us all to be optimistic about the India Growth Story and be bullish and bold at all times…. Mr. RJ

Also Read: Nifty prediction for August 2022

Disclaimer: The contents and data presented here are just for your information & personal use only. While much effort is made to provide the information, I (Vishal Dalwadi) or “FinBlab” do not guarantee the accuracy, correctness, completeness or reliability of any information or data displayed herein and shall not be held responsible.

The post Rakesh Jhunjhunwala: The Big Bull of India appeared first on Upcoming ipos: Latest news on stocks, economy & finance.

IPO Opening & Closing Date: metro brands ipo date fixed as Dec 10, 2021 to Dec 14, 2021.

Metro Brands Limited: Profile & Business

The Company opened its very first store under the Metro brand in Mumbai in the year 1955, and since then evolved into a one-stop-shop for all footwear needs, by retailing a large range of branded products for the men, women, kids, and unisex, and for every occasion including formal and casual events.

Metro Brands mainly targets the mid-segment and premium segments in the footwear market which have a much higher presence of organized players and growth in the overall footwear industry.

The company follows the COCO (company-owned and company-operated) model of retailing through its own MBOs (Multi Brand Outlets) and EBOs (Exclusive Brand Outlets), to manage its stores.

Metro Brands has been supported by Rakesh Jhunjhunwala as an investor since 2007.

Metro Brands Limited: BRANDS

Some of the company’s popular brands include Da Vinchi, Mochi, Metro, Walkway, and J. Fontini, as well as certain third-party brands such as Crocs, Clarks, Skechers, Fitflop, and Florsheim.

Metro Brands also offer accessories such as bags, belts, masks, socks, and wallets, at their all stores.

The Company also retails shoe-care and footcare products at its stores via its joint venture with M. V. Shoe Care Private Limited, making the company a complete ‘one-stop-shop’ for all footwear and related accessories to its customers.

Company Network

As of March 31, 2021, Metro Brands operated through its 586 Stores across 134 cities spread across 29 states and union territories (UTs) in India.

Important Read: MapmyIndia Limited IPO Review

Company Strength

One of the largest footwear retailers in India

An inclusive range of products and brands

Asset-light business model

The experienced management team and strong promoter background

Strong track record of profitability and growth

Company Promoters

Rafique A. Malik,

Farah Malik Bhanji,

Alisha Rafique Malik,

Rafique Malik Family Trust, and

Aziza Malik Family Trust

IPO Details – Price, Minimum Bid and Other

CONCLUSION

Considering company’s financial parameters, valuation, and future business prospect FinBlab recommends SUBSCRIBE ratings (keeping a long-term view) on Metro Brands Limited IPO

Disclaimer: The contents and data presented here are just for your information and personal use only. While much effort is made to provide the information, FinBlab or I (Vishal Dalwadi) do not guarantee the accuracy, correctness, completeness or reliability of any information or data displayed herein and shall not be held responsible.

The post Metro Brands Limited IPO – Review appeared first on Upcoming ipos: Latest news on stocks, economy & finance.