Bhavish Aggarwal Tops IPO Rich List With Rs 2,010-Crore Net Worth Gain On Ola Market Debut

Ola Electric Mobility Ltd.'s Founder Bhavish Aggarwal's net worth surged by Rs 2,010 crore after the company's initial public offering on Friday, making this the most significant wealth creation among India’s prominent startups. This makes Aggarwal the most successful among his peers, in terms of immediate financial returns.

Falguni Nayar, the founder of FSN E-Commerce Ventures Ltd., operator of Nykaa, gained Rs 1,879 crore through her family trust when the beauty and wellness platform went public and crossed the psychological benchmark of having a Rs 1 lakh crore market capitalisation on the same day.

Zomato Ltd.'s Deepinder Goyal followed closely, with gains of Rs 1,847 crore on the day of the food delivery app's market debut.

Ghazal and Varun Alagh of Honasa Consumer Ltd., the parent company of Mamaearth, gained Rs 149 crore upon their company's listing on the bourses on Nov. 7, 2023. This can be attributed to the fact that Honasa's initial public offering was a relatively small one, seeking only Rs 1,701 crore.

However, not all founders have seen positive outcomes on listing day. Vijay Shekhar Sharma, founder of One97 Communications Ltd., saw a significant drop in his wealth, losing Rs 3,398 crore. The Paytm-operator's initial public offering was the largest at that time, and also one of the most anticipated. But it plunged 28% on debut, owing to a challenging market response, resulting in a substantial decline in share value on the first day of trading.