Jhunjhunwala’s Rajasthan connection

Jhunjhunu: Ace stock market investor Rakesh Jhunjhunwala, often referred to as India’s Warren Buffett and King of stock market, was residing in Mumbai but his roots are from Jhunjhunu district of Rajasthan. Since the family originally belonged to Jhunjhunu, he used ‘Jhunjhunwala’ as surname. His family is Marwari Agarwal Bania. Rakesh Jhunjhunwala died due to cardiac arrest at the age of 62. Born on 5 July 1960, Rakesh Jhunjhunwala breathed his last in Mumbai.

Jhunjhunwala invested Rs 31 crore in Jaipur-based company Raghav Productivity Enhancers Limited. He bought 6,00,000 Compulsory Convertible Debentures (CCDs) worth Rs 30.9 crore, which were converted into shares 18 months after the date of CCD allotment. A self-made trader, investor and businessman Rakesh Jhunjhunwala was originally a resident of Malsisar town, located about 42 km from Jhunjhunu district headquarters. From Malsisar, Jhunjhunwala’s grandfather along with his family had migrated to Kanpur in UP. There he did silver business and was called Silver King.