Shrikant S Badve, promoter of Belrise Industries, joined the billionaire club on Tuesday as the company's stock surged to a record high. Badve owns 53,00,36,384 shares, representing a 59.56 per cent stake in the integrated automotive component manufacturer. At Tuesday's trading prices, his holdings were valued at Rs 8,480.19 crore, roughly equivalent to $1 billion at the current rupee-dollar rate. Advertisement

Belrise is a two-wheeler-focused auto ancillary company with largely engine agnostic products. It offers a portfolio of safety-critical systems and engineering solutions.

Badve's wife Supriya Shrikant Badve held 4,33,33,920 shares or 4.87 per cent stake in the company. His sons Sumedh and Swastid also own shares in the company, whose shares hit a record high of Rs 162.60 apiece e

See Full Page