Money is transitional: Dilip Shanghvi

MUMBAI: Dilip Shanghvi, founder of Sun Pharma, India’s most valuable drug company with a market cap of $31 billion, and the second-richest Indian with a net worth of $22.5 billion (according to Forbes on Wednesday) says “money is transitional”, while his lifestyle continues to be simple, and he still does the same, with the same amount of money.
So now officially you are one of the richest men in India.What’s your net worth as of today?
I cannot comment (on that) as it is dependent on too many factors like the dollar, etc. Also, investments (by others) may not be all public so its difficult to give numbers. Anyways, money is only transitional.
How does it feel to have completed the deal?
It feels good to have ultimately completed the complex transaction. But the real work of integrating the two huge businesses and functions starts now. It will be new and exciting work from now on.
What were the key challenges which you faced over the last few months since you announced the deal?
There were many challenges, the main being the regulatory one in terms of clearances from stock exchanges, high courts and Competition Commission of India.
Were you at any time unsure of the deal going through?
Yes, there were times during the year, but the economic incentive to Ranbaxy shareholders ensured that the risk to the transaction, was minimal.
You said earlier that the biggest focus of the company will be to gain the trust of regulators, given the mess Ranbaxy was in. How would you do that?
The main issue which emerged from the regulatory mess at Ranbaxy was data integrity and manipulation. This is of concern and will have to be addressed. I am confident we will resolve this and the other issue of productivity, so that we can grow faster than the market.