‘Hurun Report’ had enlisted GyanMagnus Associates (GMA) as chief research partner while bringing out its India Rich List 2012.
Hurun Report is a leading luxury and lifestyle magazine based in China. The India Rich List marks its official entry in India.
INDIA ENTRY
GMA is a boutique corporate law, tax and financial advisory services firm based in Kochi.
Compilation involved extensive collaboration with over 100 Hurun researchers in China and in London, says Sherry Oommen, senior adviser, GMA.
Anas Rahman Junaid of GMA, who managed the India Rich List, was also involved in the finalisation of the Hurun Global Rich List for 2012.
Oommen told Business Line that 14 per cent of the richest in the Hurun India Rich List are from South India.
Average wealth of South India-based business individuals is $1.4 billion and average age, 57.
BANGALORE HOME
Bangalore is home to 15 of the richest South Indians, followed by Hyderabad and Chennai.
GMA caters to clients across India, West Asia , Asia, the Americas and Europe, Oommen said.
It plans to expand, especially in Kerala, a market deprived of quality services with clients having to go to either Bangalore or Chennai to get professional services.
Its client base in Kerala extends to key players across sectors including shipping, exporters, real estate, jewellery, IT, financial services and media.
GMA is also associated with several SMEs and start up companies. It is interacting closely with Start-up Village in Kochi.
INVESTMENT PLAN
GMA provides pro bono advice from a tax, legal and corporate finance perspective to start-up companies to ensure that they avoid committing some ‘common mistakes.’
The firm has also started investing into start-ups that have a vision to make it large. It intends to invest into at least 10 such in the first two years.
GMA is currently involved in the proposed listing of a few small and medium enterprises in the SME Exchange.
It intends to play a key role in making the exchange far more vibrant, akin to the Alternate Investment Market in the UK, Oommen said.