Anil Agarwal to replace Mukesh as richest Indian

New Delhi, Aug 22: Anil Agarwal, mining magnate and the founder and chairman of the UK-based

, will emerge as the richest Indian.

The proposed takeover of Cairn Energy"s India business could see Anil Agarwal emerging as the richest promoter of a corporate house ahead of Mukesh Ambani, who has ruled the list for long.

After the acquisition of Cairn India and a proposed IPO of group firm Sterlite Energy, Anil Agarwal will have an estimated networth of close to Rs 1,67,000 crore, ahead of Mukesh Ambani at Rs 1,45,275 crore.

Anil Agarwal is a global leader in the metals and mining and now he is entering oil business through the Cairn India acquisition and his capacity to play to the size could now make competition intense in oil sector.

The $9.6 billion takeover of Cairn India has already pushed Vedanta group head Anil Agarwal to the second position after Mukesh Ambani in terms of family net worth, measured in terms of value of shares held as promoters in five listed group companies.

OneIndia News