Dilip Shanghvi is an Indian businessman. He is well known to be amongst the richest people in India. In 2016, he was awarded the Padma Shri award by the Government of India.
Contents
Wiki/Biography
Dilip Shanghvi was born on Saturday, 1 October 1955 (age 68 years; as of 2023) in Amreli, Gujarat, India. He grew up in the Burrabazar locality of Kolkata and lived with his parents. He did his schooling at J. J. Ajmera High School in Kolkata. Shanghvi earned a degree of Bachelor of Commerce from the Bhawanipur Education Society College, affiliated with the University of Calcutta.
Physical Appearance
Height (approx.): 5′ 5″
Hair Colour: Salt & pepper
Eye Colour: Black
Dilip Shanghvi standing
Family
Dilip belongs to a Gujarati Hindu family in Kolkata.
Parents & Siblings
Dilip Shanghvi is the son of businessman Shantilal N. Shanghvi and Kumud S. Shanghvi. There is not much information about his siblings.
Wife & Children
Dilip Shanghvi is married to Vibha Shanghvi. The couple is blessed with a son, Aalok Shanghvi, and a daughter, Vidhi Shanghvi. Both their children work for the family business, Sun Pharmaceutical.
Dilip Shanghvi’s daughter Vidhi Shanghvi
Dilip Shanghvi’s son Alok Shanghvi
Religion
He follows Hinduism.
Career
Dilip Shanghvi began his career by working with his father in the wholesale generic drugs business. His entrepreneurial spirit and determination made him manufacture his own drugs instead of selling other’s products. In 1982, Dilip founded Sun Pharmaceutical Industries Limited, at the age of 27. The unit was assembled in Vapi, Gujarat, India. In the early years of Sun Pharma, Dilip came across some challenges; however, he persevered and focused on building a reputation for producing high-quality and affordable medicines. Through strategic acquisitions and product development, he steered Sun Pharma towards growth and success and became its ‘Chairman’ and ‘Managing Director.’ In 2021, Dilip left his role as managing director of SPARC and started working as its chairman and non-executive director. [1]The Economic Times
Sun Pharmaceutical Industries
Acquisitions
Sun Pharma has been involved in several significant acquisitions to expand its presence and product portfolio and made its first foreign acquisition when it purchased Caraco Pharmaceutical Laboratories in Detroit. Some other notable acquisitions include;
Taro Pharmaceutical Industries
In 2007, Sun Pharma acquired a controlling stake in Taro Pharmaceutical Industries, an Israel-based company. Taro is engaged in the development, manufacturing, and marketing of a wide range of prescription and over-the-counter products. [2]The Economic Times
Ranbaxy Laboratories
In 2014, Sun Pharmaceutical acquired about $4 billion from Ranbaxy Laboratories, one of India’s largest pharmaceutical companies. This acquisition enabled Sun Pharma to strengthen its position in the global pharmaceutical market and gain access to a wider range of products. [3]The Economic Times
Chart depicting Sun Pharma’s Acquisition of Ranbaxy
Daiichi Sankyo
In June 2008, Daiichi Sankyo, a Japanese pharmaceutical company, acquired a majority stake in Ranbaxy Laboratories, an Indian pharmaceutical company, for a significant amount. However, in 2014, Daiichi Sankyo sold its entire stake in Ranbaxy to Sun Pharmaceutical. [4]The Economic Times
Other Indulgence
In January 2018, Dilip Shanghvi was appointed to be the Reserve Bank of India’s 21-member central board committee by the Indian Government. He was appointed to be the chairman of the board of governors at IIT Bombay. He also acted as the trustee of the Rhodes scholarship program at Oxford University in 2017.
Controversies
Insider Trading Case
Sun Pharmaceutical Industries faced an insider trading case in 2017. The case involved alleged insider trading by some of the company’s executives and related parties. [5]The Economic Times
Whistleblower complaints to SEBI
An employee of Sun Pharma and one of its executives were involved in several transactions, according to a complaint filed with the Securities and Exchange Board of India (SEBI) by a whistleblower citing violations of corporate governance. [6]Forbes
Awards, Honours, Achievements
- The Padma Shri by the Government of India in 2016.
Dilip Shanghvi recieving Padma Shri Award
- CNN-IBN Indian of the Year in Business award in 2011.
Net Worth
In March 2024, Shanghvi’s net worth was estimated to be $25.8 billion, making him the fifth richest person in India. [7]Forbes
Favourites
- Food: South Indian Cuisine
- Restaurant: Mysore Cafe, and Madras Cafe in Mumbai
Facts/Trivia
- In 2019, a journalist and author, Soma Das, wrote a biopic on Dilip Shanghvi titled ‘The Reluctant Billionaire.’
The Reluctant Billionaire by Soma Das
- Dilip started Sun Pharma with a capital of only Rs. 10,000 and five staff.
- He comes under the list of the top 10 richest persons in India on the basis of the valuation of trading session; as of 2017. [9]The Economic Times
Dilip Shanghvi ranked in the list of the richest people in India
References
