Raamdeo Agrawal is an Indian businessman, stock market investor, co-founder and chairman of Motilal Oswal Group.
Wiki/Biography
Raamdeo Agrawal was born on Friday, 5 April 1957 (age 66; as of 2023) in a village near Raipur, Chhattisgarh. His zodiac sign is Aries. After completing his studies in Raipur, he moved to Mumbai to pursue higher education. There, he pursued a bachelor’s degree in commerce from the University of Mumbai. He completed his Chartered Accountancy qualification in 1983.
appearance
Height (approximately): 5′8″
Hair color: black
Eye color: black
family
Raamdeo Agrawal was born into a middle-class Marwari family in Rajasthan.
Parents and siblings
Ramdeo Agrawal’s father’s name was Ramgopal Agrawal. He has five brothers: Karoon Ramgopal Agarawal, Vinay R. Agrawal, Sukhdeo Ramgopal Agarawal, Govinddeo R. Agarawal and Satish Agrawal and two sisters: Anita Anandmurthy Agrawal and Suman Agrawal. Sukhdeo Agarwal is a marine engineer.
wife and children
Raamdeo Agrawal is married to Sunita Agarwal. They have a son named Vaibhav Agarwal, a fund manager at Motilal Oswal Asset Management and founder of Teji Mandi. Vaibhav is married to Vedika Karnani (Agarwal).
Raamdeo Agrawal’s wife Sunita Agarwal (left) and Achyuta Samanta (founder of KIIT)
Vaibhav Agarwal, son of Raamdeo Agrawal
Profession
Agrawal, who began his career in 1987 as a sub-broker on the Bombay Stock Exchange, crowded the halls and shouted under the open outcry system. Talking about his investment journey in an interview, Agrawal said that once his brother Sukhdev wanted to save 40,000-50,000 rupees as subsidy income, and he suggested him to buy stocks instead of depositing the money. Bank savings. Sukhdev handed over the responsibility of developing the capital portfolio to Agrawal. Managing his brother’s money helped Agrawal understand how the market worked. Motilal Oswal Group was founded in 1987 by Motilal Oswal and Raamdeo Agrawal as a small stock broking firm.
Ramdeo Agrawal and Motilal Oswal
As sub-brokers, until 1990, they could only build a portfolio of Rs 10-15 lakh. Thereafter, they used all his earnings to purchase membership in BSE. It was during the Harshad Mehta Bull Run that they invested Rs 15 lakh and earned Rs 30 crore in 20 months. Eventually, the company began offering a range of services, including investment banking in 2005, private equity funds in 2006, and mutual funds in 2010. Later, the company transformed into a financial conglomerate (PMS) as well by entering wealth management, housing finance and portfolio management services. In fiscal 2016, MOFSL’s revenue was Rs 1,055 crore and net profit was Rs 1,633.2 million. By 2017, Agrawal held a 36% stake in Motilal Oswal, worth $900 million.
From left to right: Senthil Chengalvarayan, Raamdeo Agrawal, Saurabh Mukherjea and Ratnesh Kumar
One of Agrawal’s most epic bets was in Hero Motorcycles (then Hero Honda), in which he invested around Rs 10 lakh in 1995 at a price of Rs 30 per share. He held the shares for the next 20 years until the share price rose to Rs 2,600 per share. In 2015, he sold those shares. At that time, the dividend income alone from his holdings of Hero MotoCorp was bringing him Rs 3-4 crore every year.
Awards
Raamdeo Agrawal was awarded the Rashtriya Samman Patra Award by the Central Board of Direct Taxes for maintaining the highest integrity in tax payments for five years from FY95 to FY99
net worth
According to Forbes, his net worth in 2018 was $1 billion, but he was removed from the list of billionaires in 2019.
Facts/Trivia
- Interestingly, Agrawal and Oswal stayed in the same hotel in Mumbai while studying accounting, but the two became friends much later.
- He is a voracious reader. In an interview, he listed the books that made him a better investor. In addition to avidly reading Warren Buffett’s annual letters to Berkshire Hathaway shareholders, he also names the books Common Stocks and Extraordinary Profits by Philip Fisher, Adrian · “Value Migration” by Slevotsky, “Understanding Michael Porter” by Joan Margarita, and “The Intelligent Investor” by Benjamin Graham.
- He has authored several books such as “Wealth Creation Thoughts”, “The Corporate Numbers Game” (with co-author Ram K Piparia) and “The Art of Wealth Creation”.
- In 2005, Raamdeo Agrawal’s son Vaibhav was kidnapped by Rahul Tyagi and his attendant Sanjeev Sharma. Vaibhav was abducted from his hotel in Kota, where he was preparing for his entrance exam to the Indian Institute of Technology. The kidnappers lured Vaibhav by lying that they were sent by his uncle, a doctor from Pondicherry, and asked him to go with them to Bansal College for training. The kidnappers demanded a ransom of Rs 10 crore, but Vaibhav’s family agreed to pay Rs 3 crore to ensure Vaibhav’s safe release. After the police arrested the kidnapper driver Jai Kumar (alias Bittu), 22, it took 15 days to rescue Vaibhav. The kidnapper tried to escape after collecting a ransom of Rs 3 crore. Vaibhav drank a drink laced with sedatives and was taken to Delhi, then Dehradun, then Katuli before he was finally released after a joint operation by Uttar Pradesh, Delhi and Rajasthan police Rescued from Ghaziabad. It was alleged that Vaibhav’s ex-girlfriend Amisha Agarwal reported Vaibhav to Tyagi. Amisha was Vaibav’s classmate at DAV College in Muzaffarnagar. She later married Paresh Vaishya, one of India’s richest multinational executives. The couple lived in the Samudra Mahal Building in Mumbai’s Worli area, where stockbroker Ramdev Agarwal also lived.
- In 2021, Agarwal, his wife Sunita and son Vaibhav jointly spent 4,629 crores to buy a luxury duplex apartment facing the sea in Samudra Mahal in Worli, a luxury community in Mumbai.
Categories: Biography
Source: HIS Education