BR Shetty
Founder & Co-Chairman, BRS VenturesBirth Details1942 | Kapu, Udupi, India
NationalityIndian
LeagueBusiness Leader
EducationPharmacist, Manipal Institute
Net Worth$3.15 billion (As of October 9, 2019)
BR Shetty's Assets:
BR Shetty's Journey So Far ...
Before you go ...
- BRS Ventures
BR Shetty's Journey So Far ...
- After completing his pharmacy course, Bavaguthu Raghuram Shetty became a distributor of a pharma company. His business failed as he spent more time in politics. In 1968, he was elected to the Udupi Municipal Council as a Jan Sangh candidate
- In the 1970s, Shetty decided to look for greener pastures, and, eventually in 1973, he went to Abu Dhabi where he worked as a medical representative
- In a big move in 1975, Shetty opened a clinic named New Medical Centre and his wife Chandrakumari Shetty was its first doctor. NMC is now a healthcare behemoth with over 45 hospitals
- Shetty's next big business bet was the launch of the UAE Exchange in 1980 for expatriates to remit money home, and the following year he established NMC Trading to market and distribute goods in multiple sectors across the UAE
- His next investment was in pharmaceutical manufacturing when he launched Neopharma in 2003 and in three decades, Shetty built a business empire that spans across healthcare, finance, pharma, marketing and distribution
- In 2012, NMC Health became the first Abu Dhabi company to list on LSE, it raised $187 million. In 2014, Shetty acquired UK's forex firm Travelex for 1 billion pounds
- In 2018, Shetty set up Finablr as a holding company for the UK exchange and Travelex and listed it on LSE in 2019. In the IPO, Finablr raised $400 million
- In a big blow to Shetty in 2019, Muddy Waters published a report on NMC Health, raising several red flags. This led to Shetty resigning from Chairmanship of NMC Health and Travelex board in 2020 and NMC was placed under administration
Before you go ...
- In 2005, Shetty got the 'Order of Abu Dhabi', the government's highest civilian honour. The Government of India awarded him with the 'Padma Shri' in 2009
- In 2010, Shetty took possession of the 100th and the 140th floors of the Burj Khalifa
- He plans to donate 50% of his wealth and signed up for the Giving Pledge campaign by Bill Gates and Warren Buffett
Last Updated: 12/02/2021
BR Shetty News
- Tech View: Nifty traders await breakout on either side. Here’s how to trade on FridayThe overall trend of Nifty remains positive as per smaller to larger time frame chart. Having placed at the hurdle of around 24400 levels (1.618% Fibonacci Extension), there is a possibility of this consolidation/minor dip extending for the coming sessions. Immediate support is at 10 day-EMA at 23,990, said Nagaraj Shetti of HDFC Securities.
- "Will answer it after 4 pm that day," West Bengal Governor reacts to remarks of TMC's Kunal GhoshWest Bengal Governor Ananda Bose responded to Trinamool Congress leader Kunal Ghosh's remarks about the "untold story of hotel Taj Palace" and the "3 pm" deadline by stating he would address the matter after the deadline. The tension between the Governor and the Trinamool Congress has escalated over the oath ceremony of two newly elected Trinamool MLAs. Ghosh warned that if the MLAs were not sworn in by 3 pm on Monday, he would reveal the untold story. Meanwhile, West Bengal Legislative Assembly Speaker Biman Bandyopadhyay expressed hope that the Governor would understand the situation and conduct the oath ceremony.
- 2 top stock recommendations from Nagaraj ShettiI am expecting a further upside for the Nifty during this budget period and as well as if you look at the sectors, banking, especially private and PSU banking, and if you look at the metal stocks and metal sector has declined reasonably and has bounced back from the lower levels, fertilisers and even other sectors like PSU banking, like capital goods are likely to be in the limelight in the near term.
- Those who imposed Emergency have no right to profess love for Constitution: PM ModiOn the 49th anniversary of Emergency, Prime Minister Narendra Modi said on Tuesday that its dark days are a reminder of how the Congress subverted basic freedoms and trampled over the Constitution which every Indian respects greatly. Hitting out at the main opposition party, he said in posts on X that those who imposed the Emergency have no right to profess their love for our Constitution.
- 'Dark Days of Democracy!' BJP leaders hit out at Congress on 1975 Emergency anniversaryThe BJP launched a strong attack on the Congress on the 49th anniversary of the Emergency. Union Home Minister Amit Shah, BJP President J.P. Nadda, and Defence Minister Rajnath Singh highlighted the period's suppression of democracy and civil rights. Prime Minister Narendra Modi urged people to prevent such an event from happening again. This criticism coincided with opposition parties accusing Modi's government of constitutional violations.
- Darshan no stranger to controversies, Kannada star was linked to this actress before alleged murder accomplice Pavithra GowdaThe victim, Renuka Swamy used to send explicit messages to Gowda, as he thought she was to blame for the rift between Darshan and his wife Vijayalakshmi. This set off a series of events that ultimately led to the police finding Renuka's remains, which had been mauled by a pack of stray dogs on the street.
- Cong slams govt over statues' relocation within Parliament, calls it 'unilateral' moveThe Congress criticised the ruling regime for unilaterally relocating statues within the Parliament premises to remove Mahatma Gandhi and BR Ambedkar from traditional protest sites. This comes ahead of the inauguration of 'Prerna Sthal' for freedom fighters' statues. The Lok Sabha secretariat defended the move, stating it was difficult for visitors to see statues in various places. Congress argued the decision hampers democratic protests and diminishes the significance of Ambedkar Jayanti celebrations in Parliament.
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Sushant Singh Rajput death anniversary: Sister Shweta pleads for justice after 4 years, Mahesh Shetty says 'We deserve to know'On the fourth anniversary of Sushant Singh Rajput's death, his sister Shweta Singh Kirti and close friend Mahesh Shetty shared emotional tributes on social media, demanding justice and closure. Shweta expressed her frustration and helplessness, urging authorities and the public to uncover the truth behind her brother's mysterious death. Mahesh echoed similar sentiments, emphasizing the need for answers and justice.NCLT admits personal insolvency resolution plea against Mahesh Shetty of MT EducareThe National Company Law Tribunal (NCLT) in Mumbai has accepted Prudent ARC's application to begin personal insolvency resolution proceedings against Mahesh R Shetty, promoter of MT Educare, for a default of Rs 16.64 crore. Shetty had provided a personal guarantee for these loans. The tribunal directed the resolution professional, Santanu T. Ray, to issue a public notice inviting claims from creditors.Modi 3.0: How different will be the third Modi governmentNarendra Modi is scheduled to take take oath for the third term as India's Prime Minister in a changed political landscape. Allies demand concessions, potentially affecting economic agenda. Expectations for populist budget with focus on welfare and rural areas, though concerns raised over economic impact. Reform agenda may face challenges due to weakened mandate, but continuity likely in infrastructure investment and business environment improvements.At 5.6% of GDP, FY24 fiscal gap beats targetIn absolute terms, the FY24 fiscal deficit stood at ?16.54 lakh crore, down from the revised estimate of ?17.35 lakh crore and FY23 level of ?17.38 lakh crore, showed the official data released on Friday. A lower-than-anticipated deficit in FY24 and a generous surplus transfer by RBI earlier this month make the government's goal of reining in fiscal gap at 5.1% of GDP in FY25 seem more realistic now, experts said.Gangster Chhota Rajan convicted in 2001 case of murder of Mumbai hotelier Jaya ShettyMumbai special court convicted gangster Chhota Rajan for the 2001 murder of hotelier Jaya Shetty. The court found Rajan guilty under the IPC provisions for murder. The victim, who owned Golden Crown hotel, was shot dead by alleged gang members amid extortion threats. Court to determine punishment later.Aster to invest Rs 250 crore in CMI Hospital, to upscale to 850 bedsAster DM Healthcare announced a major expansion plan for Aster CMI Hospital in Bengaluru, increasing its bed capacity from 500 to 850 beds with a 300,000 sq ft infrastructure expansion. With a total of 1602 beds, the company strengthens its presence in Bengaluru. The Rs. 250 crore investment aims to upgrade facilities by fiscal year 2027, reinforcing their commitment to quality healthcare and strategic growth."Congress, TMC violated Constitution for pleasing vote bank," BJP's Shehzad PoonawalaStepping up his attacks on TMC, Poonawala cited the Calcutta High Court order of scrapping all the OBC certificates issued in West Bengal after 2010 and said, "Now, the order by West Bengal High Court shows that only to appease a particular vote bank, the TMC took away the OBC reservation and gave it to the Muslims."Janhvi Kapoor surprises fans with deep insights on Gandhi, Ambedkar, and casteism: 'This issue that we have in our society'In a recent interview with The Lallantop, Bollywood actress Janhvi Kapoor surprised many by sharing her insights on Mahatma Gandhi, BR Ambedkar, and casteism. Known for her roles in films like "Bawaal," Janhvi expressed a deep interest in history, particularly in witnessing a debate between Gandhi and Ambedkar on caste issues. She noted that while Ambedkar’s stance was firm from the start, Gandhi's views evolved over time.
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