India’s 100 Richest
The twin of Anurang Jain (No. 72) and nephew of two-wheeler tycoon Rahul Bajaj (No. 16) zooms into the top 100 after listing his 30-year-old auto-
parts firm, Varroc Engineering, in July. Varroc makes headlamps and other parts for two- and-three-wheelers for marquee clients such as Ford,
Volkswagen Group, Bajaj Auto and Yamaha Motor. The $1.6 billion (revenue) firm, which was founded in 1988 as a maker of plastic and polymer parts
for Bajaj Auto, is aiming for revenue of $3 billion by 2020, says Tarang.
P.V. RAMPRASAD REDDY:
BEST BUY?
Farmer’s son Reddy (who’s not related to the other pharma
Reddy clan, No. 93) made a splash in September when
his Hyderabad generics firm, Aurobindo Pharma, said it
was buying the dermatology and oral-solids business of
Sandoz in the U.S. for $900 million. The deal, Aurobindo’s
biggest overseas acquisition to date, will make the company
the second-largest generics player in the U.S. after Teva.
The company has a large U.S portfolio with 342 approved
generic drugs and gets more than 90% of its $2.6 billion
annual revenue from international markets. Even though
Aurobindo’s shares rose in the face of a U.S. generics slump
this past year, a weaker rupee wiped out those gains.80 | FORBES ASIA OCTOBER 2018
TARANG JAIN: AUTO PART PILOT