2 from Telugu States find place in the list
Only two persons – one from Telangana and one from Andhra Pradesh – made it to the IIFL Wealth Hurun India 40 & Under Self-Made Rich List 2021, a ranking of the self-made entrepreneurs with a wealth of Rs 1,000 crore, aged forty years and under from India. Wealth calculations are a snapshot of September 15, 2021.
Hyderabad: Only two persons – one from Telangana and one from Andhra Pradesh – made it to the IIFL Wealth Hurun India 40 & Under Self-Made Rich List 2021, a ranking of the self-made entrepreneurs with a wealth of Rs 1,000 crore, aged forty years and under from India. Wealth calculations are a snapshot of September 15, 2021.
This list was released by IIFL Wealth and Hurun India on Monday. 35-year-old Sriharsha Majeti, from Vijayawada in AP, ranked 661 on the list in 2021's IIFL Wealth Hurun India 40 & Under Self Made Rich List, with net wealth of Rs 1,900 crore. He is the CEO and co-founder of Bundl Technologies, which is the parent company of popular online food delivery platform Swiggy.
Sriharsha is an engineering graduate in electrical and electronics and post-graduate in physics from Birla Institute of Technology and Science (BITS) in Pilani. He started Swiggy in 2014, and the company began attracting external investments from 2015. Bengaluru-headquartered firm is in talks to raise another $500 million in a new round that could value it at over $10 billion.
As per IIFL Wealth-Hurun India 40 - Under Self Made Rich List 2021, 34-year-old Varun Khaitan, from Hyderabad in Telangana, also made it to the list with net wealth of Rs 1,400 crore. He is the Co-founder and Director of online home services platform Urban Company. He is an electrical engineering graduate from Indian Institute of Technology (IIT) in Kanpur.
He co-founded UrbanClap in 2014 and is responsible for its marketing and product growth. The New Delhi-headquartered company has raised Series F funding of $255 million in April 2021. The latest round of includes a primary capital of $188 million and a secondary sale of $67 million by select angels and early investors.
Yatin Shah, Co-Founder and Joint CEO of IIFL Wealth, which manages an AUM (assets under management) of $38 billion, said: "The current economic landscape coupled with the power of technology and digital solutions has created an enabling environment for emerging entrepreneurs. Many young entrepreneurs are on their way to becoming unicorns."
Anas Rahman Junaid, Founder and MD, Hurun India said: "This list represents the hottest rising stars in business from India, and all of them have achieved the remarkable milestone of entering the IIFL Wealth Hurun India Rich List before the age of 40. The list rose whopping nine times in five years. I expect it to quadruple to 200 entrants in the next 5 years."
