UK Indian billionaires

Updated: Jun 1 2014, 15:44pm hrs
MittalThe Sunday Times Rich List published this week reaffirms the remarkable rise in the fortunes of several Indian and Indian-origin entrepreneurs in the UK whose names are barely known in India.
The Sunday Times Rich List published this week reaffirms the remarkable rise in the fortunes of several Indian and Indian-origin entrepreneurs in the UK whose names are barely known in India. There are, of course, the Hindujas who headed the list and dislodged ArcelorMittal chairman Lakshmi Mittal, plus the usual suspects such as Lord Swraj Paul, Anil Aggarwal, Naresh Goyal, Prakash Lohia and Ravi Ruia, but there are dozens of others who have either shown a mercurial rise or are promising new entrants. They include:

Anil Aggarwal: Not the Vedanta boss but a new entry on the list with the same name. He is the founder of iEnergizer, an Indian company offering back-office functions to blue-chip companies. Founded in 2000, it floated on Londons AIM exchange in 2010, and the man is already worth 404 m.

Rahul (Richie) Nanda: Rahul Nanda is global chairman of Topsgrup, Indias biggest security company, which, in 2012, completed a 100% acquisition of British security firm Shield Guarding Company for 19.5 m and has debuted on the Rich List with a fortune of 168 m. Called Richie by his friends, he lives in a mansion in South Buckinghamshire and owns a Bentley, Jaguar and a Land Rover. He owns 69.04% of the Mumbai-based Topsgrup that provides guards and secures cash and bullion in transit. The company has provided security to Bollywood superstars and during the Cricket World Cup in India. In the UK, Shield Guarding Company deploys security guards at Sothebys and Christies, among others.

Moni Varma: Varma is often referred to as the Basmati Baron. His company, Veetee Rice, imports rice and is worth 84 m. He hit the headlines for taking Lakshmi Mittal, his former close friend, to court over a Nigerian oil deal that went sour. The two settled out of court. Veetee Rice processes and supplies most of the rice sold in British supermarkets.

Bhupendra Kansagra: The London-based NRI holds 12.91% in SpiceJet. Kansagra bought a stake in SpiceJet, then known as ModiLuft, from SK Modi at R10 per share in 2000. The sagging airline was given a boost by Kansagra when he pumped in more money and rechristened it SpiceJet in 2005 but he was never the public face of the airline. The Kansagra family has promoted the Malwood Group which has investments in major international businesses in the UK, Kenya, Tanzania, Mozambique, Sudan, Nigeria and India. They also have interests in deep offshore exploration blocks in Nigeria, where they have collaborated with Chevron, Texaco.

Vikrant Bhargava: The former group marketing director of online casino operator PartyGaming, Bhargava comes from a banking background via IIM Kolkata and IIT Delhi. Bhargava headed the marketing efforts for PartyGaming from its inception and took it to revenues of over $1 billion. After leaving PartyGaming in May 2006, he is now involved with a number of Internet, media and real estate ventures as managing partner of his new company, Veddis Ventures, and has an estimated fortune of 250 m.

Nick Dhandsa: He left his job as a doctor in a hospital to set up his own healthcare business, Associated Nursing Services, in 1981, largely a care home business. Dhandsa sold the business to the private health care company, Bupa, for a reported 100 million in 2005. He and his brothers have re-invested the money in a number of diverse businesses and have properties in Dubai and Switzerland and is valued at 110 m.

Rajinder Chatha: At 18, Rajinder Chatha was running a corner shop and three years later, set up European Food Brokers (EFB), a wholesaling concern, before moving into the cash-and-carry trade. The Yorkshire-based family later expanded its retail operations and acquired Cheshire-based beer, wine and spirits retailer Wine Cellar in 2009. It then acquired John Stephenson & Sons, a wine and spirits brand, joining the groups existing portfolio of Shop2Go, Drink2Go and Whittalls Wines outlets. In 2011, Chatha rescued Oddbins, an off-licence chain that went bust. He took control of 37 outlets from the administrators and added them to his Whittalls Wine Merchant outlets. Turnover at Chathas EFB Holdings rose to 132 million for 2013. Chatha owns 75% of the business and is valued at 110 m.

Sanjay and Vipul Vadera: Literally the sweet smell of success. Sanjay and brother Vipul own a group of fragrance and perfume companies under the Per-Scent brand. They started off sourcing brands such as D&G and Hugo Boss from retailers who had excess stocks and sold them to secondary market retailers who were unable to deal directly with the brand houses. Per-Scent hit big time when it was given preferred supplier status by the Superdrug chain. Sanjay is CEO of a group of companies, which includes Per-Scent, The Fragrance Shop, Fragrance and Beauty and Perfume Point. The group now has a turnover of 110 million and over 800 employees.

Kirit Patel: Kirit and his brother Jayantibhai set up Day Lewis in 1975. That single store has grown to 186 pharmacies, making Day Lewis the largest independent pharmacy chain in the UK worth about 30 m. Kirit is a pharmacist by training and is spearheading a revolutionary concept known as the joint venture scheme to help first-time buyers and young pharmacists own a pharmacy.

Kuljinder Bahia: He is MD of the travel agency Southall Travel Group, one of the largest travel agencies in the UK. Southall Travel is a popular travel agency among Indians and boasts over 2,55,000 customers. In 2013, he was worth 230m. Bahia still goes to the annual London reunion of his Shimla school, Bishop Cotton.

Ajay Kalsi: The London-based Kalsi owns a string of companies in the oil and gas, real estate and commodity trading sectors. It was the float of his energy venture, Indus Gas, which brought him to London in 2008. Now he divides his time between Delhi and London and is worth an estimated 1.5 billion.

Surinder Arora: Having started as an office junior at British Airways (BA), while also moonlighting as a hotel waiter, Arora pushed the family savings into property, eventually developing a row of houses opposite Heathrow into bed-and-breakfast accommodation. From that emerged his first hotel and a deal with BA to accommodate its air crews. Arora Holdings, his family hotel operation, has helped him earn a 323 million fortune.

Sukhpal Singh Ahluwalia: A refugee from Idi Amins Uganda, he founded Euro Car Parts and has tuned it into Britains biggest distributor of parts for cars. He sold the company in 2011, pocketing an initial 225m fortune. He now devotes his time to his property-focused asset management firm, Dominvs Group, which he is building with his sons. He has a personal fortune of over 400 million.

Amit and Meeta Patel: He was 39 when Amit, along with his sister, founded the fast growing London-based pharmaceutical business Auden McKenzie to make generic versions of critical medicines. The success of the business, which has a turnover of 52.4 m, helped the Patels net worth rise to 400m.

Navin and Varsha Engineer. Navin Engineer and his wife, Varsha, own Chemidex Pharma, which specialises in developing new drugs and treatments. A trained pharmacist, Engineer made his fortune by starting his own chemist chain that he sold in 1999. They put the money into funding Chemidex, which is now worth 570 million.

Bhiku and Vijay Patel: They came to Britain with just 10 in their pockets and took up menial jobs to pay for school and college fees in Leicester. The brothers built a multi-million pound business empire, supplying medicines to hospitals and pharmacies through their pharmaceutical company, Waymade Healthcare. Last year, the company had a fortune of about 450 million.

Raminder Singh Ranger: The Patiala-born Rangers business interests flow from his principal company, Sun Mark Ltd, an international marketing and distribution company, with business interests in diverse fields ranging from shipping to beverage manufacturing to property development. He is also the chairman and managing director of Sea Air and Land Forwarding Ltd, where he worked as an employee of shipping cargo. The two companies have a combined turnover of over 150 million. His personal wealth is estimated at 95 million.

Mike Jatania: Mike and his three brothers run cosmetics giant Lornamead and top the list for the fifth year running. They came to Britain from Uganda in 1969 when Asians were expelled from that country by dictator Idi Amin. Mike Jatania and his family are worth 850 million, having built a business buying unwanted brands from the multinationals and relaunching them with a marketing push in new areas.