Published by: Business desk
Last updated: August 31, 2023, 7:00 AM IST
Hermendra Kothari (File photo: Harvard Business School official website)
Born on August 25, 1946 in Mumbai, Hemendra Kothari comes from a family with money in possessions.
Hemendra Kothari, 77, from a family that has been involved in the stock market for some 140 years, established his own reputation as one of India’s investment banking pioneers. A veteran of the Indian stock markets, Kothari has witnessed all the upheavals big and small during a nearly sixty-year odyssey that began in the 1960s.
DSP Investment Managers, his organization, manages assets worth more than $15 billion (approximately Rs 1,500 crores). The company DSP Mutual Fund stands for Discipline, Science, Processes and strives for good long-term investment results for investors.
Purbhoodas Jeevandas Kothari, the great-grandfather of Hemendra Kothari, was one of the founders of the Bombay Stock Exchange (BSE). It was founded in the 1850s under a banyan tree by a group of brokers led by Bombay’s ‘Cotton King’ Premchand Roychand. Currently, BSE is one of the world’s largest stock exchanges, with 5,279 listed companies and a market value of Rs 31,205,317 crore as of August 2023.
Hemendra Kothari: who is he and how did he come to power?
Born on August 25, 1946 in Mumbai, Hemendra Kothari comes from a family with money in possessions. His father was a stockbroker who also ran a not-for-profit business. His father initially discouraged him from pursuing a profession in the financial market.
Hemendra Kothari tried to get into the textile industry after getting his B.com from Sydenham College of Commerce and Economics in Mumbai. In 1969, he decided to go into the stock market for himself.
Kothari started as an employee and quickly transformed the family business into a profitable machine worth Rs 1.5 lakh per annum. He was later promoted to partner.
By 1972 he had elevated the company to one of the top three in the BSE. In 1975 he founded the financial service provider DSP Financial Consultants. Hemendra Kothari formed a partnership with American asset manager Merrill Lynch in the 1990s and successfully exited with a 57 percent stake in 2009.
Hemendra Kothari is one of the richest persons in Mumbai and India. The billionaire has an estimated net worth of Rs 11,530 crore ($1.4 billion). He has two children and his daughter Aditi Kothari Desai is currently the vice president and head of sales at DSP.
