Entrepreneur Rahul ‘Richie’ Nanda, Chairman of Indian security firm Topsgroup, has entered the Sunday Times Rich List following his company’s takeover of UK-based Shield Guarding Company.
Nanda is one of the major shareholders of Topsgroup, which provides security-related services to the Indian Premier League as well as to some of Bollywood’s biggest stars.
The company acquired a 51% stake in Shield in 2011, taking Dr Nanda’s net worth to £168 million and paving the way for his entry onto the list of Britain’s wealthiest individuals.
Speaking of his inclusion in the Rich List, Dr Nanda paid tribute to his employees and customers: “I owe this recognition to the 93,000 employees, 8,000 customers, my family and friends for believing in my vision for Topsgrup. The Topsgrup acquisition of The Shield Guarding Company once again demonstrates the strong and unique bond shared between India and the United Kingdom.”
He added, “Entrepreneurship is the bedrock of British society and we are truly a nation of entrepreneurs. I am a great believer that it is the tool for social change on a global level and a key driver in overcoming financial barriers and economic circumstances. Being entrepreneurial isn’t just about making the right business decisions but also about taking the right risks and adopting a fresh approach to business life that pushes you to embark on a new challenge and creative path.”
Born and raised in industrious Ranchi in Northeastern India, Dr Nanda began his career at a struggling family-owned restaurant which he transformed into a thriving business.
In 1992, at the age of 22, he joined Topsgrup – then a small player in the burgeoning security business in India – on a monthly salary of just £10.
The ambitious young executive was soon into his stride, rising rapidly through the company’s ranks, becoming a shareholder and transforming Topsgrup into India’s largest security services group with revenues of £200 million and offices in India, Israel and the UK.
Dr Nanda is one of a slew of new Asian multi-millionaires who have made it to the definitive list of the UK’s wealthiest people.
Other notable newcomers include Rajesh Agrawal, founder of foreign exchange trading company Rational FX, Kartar and Tej Lalvani of health supplement manufacturer Vitabiotics and Sri Lankan-born Subaskaran Allirajah, chairman of Lycamobile.
The Rich List is headed by Lakshmi Mittal with a net worth of £12.7 billion.
- Vijitha Alles