BUSINESS
He is the richest Indian in Australia and has a net worth of Rs 66262 crore.
TRENDING NOW
Indian businessmen have been expanding their businesses not just in India, but abroad. They explore new opportunities in different sectors and acquire a stake in other companies which have the potential to grow. Now, one such Indian person has announced to acquire an 11 per cent stake in Israel's REE Automotive Ltd. His name is Vivek Chaand Sehgal, founder of Motherson Group which owns Samvardhana Motherson International Ltd (SAMIL).
His Samvardhana Motherson, which is an auto components major, will acquire an 11 per cent stake in REE Automotive for up to USD 15 million, which is around Rs 125 crore. The company will subscribe up to 36,39,010 Class A ordinary shares of REE Automotive Ltd, an automotive technology company engaged in the design, development and integration of various vehicle components into a module and complete modular platform specifically for commercial electric vehicles.
As part of the transaction, SAMIL will also be entering into a supply chain management agreement with REE to accelerate its industrialisation in a mutually beneficial commercial construct, the company added.
Moreover, Samvardhana Motherson was founded by Seghal with his mother as a silver trading outfit, hence the name Motherson. His son Laksh Vaaman Sehgal is a director on the board of both Samvardhana Motherson International. Sehgal has a real-time net worth of Rs 66262 crore, as per Forbes. He draws the biggest chunk of his wealth from his company.
READ | Meet woman, who worked in Azim Premji's Rs 288000 crore company as CTO, resigned due to...
Ed raids ex-IAS, Noida Authority CEO's house, Rs 1 crore cash, Rs 19 crore jewellery recovered
Hezbollah walkie-talkie blast kills 20 in Lebanon; Israel declares 'start of new phase in war'
NASA Alert: Giant asteroid Apophis, as big as a skyscraper, will approach Earth on...
Himesh Reshammiya's father, music director Vipin Reshammiya, passes away at 87
This is now India's biggest alcohol firm, has surpassed Johnnie Walker maker Diageo by Rs...
Big win for ISRO: Centre approves Chandrayaan-4, Venus mission and a space station; allocates Rs...
Mpox in India: First Mpox case confirmed in Kerala, patient recently travelled from...
'Joke ban chuka hai': Rohit Sharma's sly dig at players who reverse retirement decisions
Flipkart founder Sachin Bansal’s company overtakes Amazon to become India’s…
Meet youngest CEO of India, who created first app at 9, began his own company at 13, now he is…
This train gave Rs 628800000 loss to Indian Railway, everyday 200-250 seats left vacant due to…
Not Rishab Shetty, this superstar was first choice for blockbuster Kantara; he left film because...
DNA TV Show: Record voting in first phase of J-K Assembly Elections, what does it indicate?
Salman Khan house firing case: Accused claims doctor in prison demanded Rs 10000 for...
Meet IPS Anurag Garg, IIT alumnus and new NCB Director General
Atishi to be Delhi's new CM: LG proposes AAP leader’s swearing-in ceremony on this date
Air pollution: GRAP period starts early in Delhi-NCR, buses not allowed to enter capital if…
Deepinder Goyal's Zomato gets fresh Rs 177000000 crore notice due to...
What happens if India do not travel to Pakistan for 2025 Champions Trophy? ICC plans to...
IPL 2025: BCCI likely to hold mega auction during these months
EY India finally breaks silence over 26-year-old employee's death due to 'work stress'
Priyanka Chopra thanks Anushka Sharma for this special gift, shares photo on Instagram
Meet the mystery owner of Rs 11.53 lakh crore business, nobody knows about....
SL vs NZ: Kamindu Mendis equals world record in Tests, becomes 2nd batter to...
India’s richest and poorest states: Top GDP contributors, highest income earners revealed
UP man appeals to President, PM Modi to save daughter facing death sentence in UAE
Ex-BCCI President Sourav Ganguly files complaint against YouTuber for this reason
Men in this Indian village have two wives, living under one roof due to…
J-K Assembly Election 2024: 59% voter turnout recorded in Phase 1
Mpox Scare: Man tests positive in Kerala after returning from...
IND vs BAN, 1st Test Dream11 prediction: Fantasy cricket tips for India vs Bangladesh match
Deepika Padukone buys 1845 sq ft apartment near her mother-in-law's house in Mumbai, it worth Rs...
US Coast Guard reveals Titan submersible's last message, haunting video before deadly implosion
Mukesh Ambani buys India’s first Boeing 737 MAX 9, it’s priced over Rs…
Breaking Your FD Early: Penalties and Alternatives
Ratan Tata's Rs 1573000 crore company inks pact with global fast-food chain to...
Indus Water Treaty: India serves formal notice to Pakistan, seeking...
Virat Kohli asks Gautam Gambhir about on-field altercations, left surprised by his response
Good news for Anil Ambani, his company's Rs 3831 crore debt reduced by 87% to just Rs...
Australia legend Ricky Ponting joins new IPL franchise ahead of 2025 season
Meet world's richest woman, she is heiress to 4920000 crore company, her net worth is…
'One Nation, One Election' approved by Centre: What it means for India's election system?
Australian woman gets trolled after she mocks Indian food for its spices, says, 'You put dirt…'
Gautam Gambhir rates this Virat Kohli knock as 'best ODI innings ever'
SL vs NZ, 1st Test: William O'Rourke stuns Pathum Nissanka with an inswinging yorker - Watch
Kolkata doctor rape-murder case: TMC MP Abhishek Banerjee demands CBI's..., says...
Union Cabinet approves 'One Nation, One Election' proposal, Bill likely in winter session
Hitting below the waistline – the curious case of exploding pagers
Haryana polls: Cong announces 7 guarantees, including legal guarantee for MSP, caste survey
After resignation from Delhi CM's post, Arvind Kejriwal to vacate official residence within…
Kolkata rape-murder case: Junior doctors refuses to call off strike, demand another…
New COVID-19 Variant XEC Spreads to 27 Countries: What are the symptoms?