Shashi and Ravi Ruia, Britain's new 'Bollygarchs'

The latest Indian business titans to make waves in London are brothers Shashi and Ravi Ruia, who stand to make millions from the imminent flotation of Essar Energy on the London Stock Exchange.

"Rich as kings, highly educated and urbane, they hold the world in the palm of their well-manicured hands," says The Daily Telegraph's Clive Aslet of today's Indian titans. And a growing number of these "Bollygarchs" are making waves in London. The latest are the Ruia brothers, who stand to make billions from the imminent flotation of Essar Energy on the London Stock Exchange.

Shashi and Ravi Ruia are regarded as "a shrewd but superstitious duo", says The Times. "They consider 13 to be their lucky number and will not fly together." Essar Energy is just part of the Ruia's huge steel-to-retail conglomerate and the brothers are only floating 25% of the firm. But a lot is riding on this $2.5bn float the City's largest for four years (see below).

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
MoneyWeek

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.