Ace Stock Market Investors' Last Rites Held In Mumbai.

On Sunday night, Rakesh Jhunjhunwala, an ace stock market investor and promoter of Akasa Air, was laid to rest at the Banganga Crematorium.

62-year-old Jhunjhunwala died of a cardiac arrest on Sunday morning after being unwell for some time. His wife and three children survive him. He was the son of an income tax officer.

The cremation was scheduled to be held at 5:30 pm, but it was delayed as the arrival of Jhunjhunwala's brother from Dubai was awaited.

A number of politicians and corporate leaders cut across party lines condoled his death earlier in the day.

Jhunjhunwala grew up in Mumbai, and after completing his graduation from Sydenham College in 1985, he enrolled at the Institute of Chartered Accountants of India.

A self-made trader, investor, and businessman, he was also known as the 'Big Bull' of Dalal Street.

He invested in more than three dozen companies, including Titan, part of the Tata conglomerate, which produces watches and jewelry.

His portfolio includes companies like Rallis India, Agro Tech Foods, Escorts, Canara Bank, Star Health, Indian Hotels Company, Nazara Technologies, and Tata Motors.

According to Forbes' 2021 listing, "with an estimated net worth of around USD 5.8 billion, Jhunjhunwala was the 36th richest billionaire in India."