The last rites of Rakesh Jhunjhunwala, a stock market veteran and promoter of the recently launched Akasa Air, were performed at Banganga crematorium here on Sunday night.
Jhunjhunwala, who was not keeping well for some time, died here on Sunday morning due to a heart attack at the age of 62.
An Income Tax Officer has a son, his wife and three children.
The last rites were scheduled to take place at 5:30 pm, but were delayed as they waited for Jhunjhunwala’s brother to arrive from Dubai.
Jhunjhunwala was brought dead in the city’s Breach Candy Hospital in the early hours of Sunday. The hospital, suffering from kidney disease and ischemic heart disease, certified that the cause of his death was cardiac arrest.
Earlier in the day, several politicians and corporate leaders across party lines condoled his demise.
Jhunjhunwala grew up in Mumbai and after completing his graduation from Sydenham College in 1985, he joined the Institute of Chartered Accountants of India.
A self-made trader, investor and businessman, he was also known as the ‘Big Bull’ of Dalal Street.
Jhunjhunwala had invested in over three dozen companies, the most valuable of which is watch and jewelery maker Titan, which is part of the Tata Group.
His portfolio includes companies such as Star Health, Rallis India, Escorts, Canara Bank, Indian Hotels Company, Agro Tech Foods, Nazar Technologies and Tata Motors.
With an estimated net worth of around USD 5.8 billion (approx.) According to the Forbes 2021 list, Jhunjhunwala was the 36th richest billionaire in India.
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