Rakesh Jhunjhunwala cremation at 5.30 pm in Mumbai, family and friends mourn loss

New Delhi: Ace investor and stock market mogul Rakesh Jhunjhunwala died on Sunday morning. He was 62. He was was reportedly brought dead to the Breach Candy hospital at around 6:45 am on Sunday. His untimely demise has sent shock waves across the country and especially the investors. According to an official statement by the Jhunjhunwala family, the late business mogul's last rites will begin at 5:30 pm on Sunday (Aug 14) in Mumbai. 

The Antim Yatra will begin from IL Palazzo, behind Malabar Hill Club and the cremation will take place at Banganga crematorium in Malabar Hill.

Several political leaders and prominent personalities took to social media to mourn his demise including Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman.

Rakesh Jhunjhunwala death: PM Modi, FM Sitharaman offer condolences

Sitharaman took to Twitter and wrote, "Shri Rakesh Jhunjhunwala is no more. Investor, bold risk taker, masterly understanding of the stock market, clear in communication- a leader in his own right. Fondly remember several conversations we’ve had. Had strong belief in India’s strength and capabilities. Condolences."

Prime Minister Narendra Modi condoled the death of stock market investor Rakesh Jhunjhunwala and said he was "indomitable". PM Modi also said that Rakesh Jhunjhunwala has left behind an "indelible" contribution to the financial world.

An investor with a Midas touch, Jhunjhunwala was the 48th richest man in the country. His portfolio includes companies like Star Health, Titan, Rallis India, Escorts, Canara Bank, Indian Hotels Company, Agro Tech Foods, Nazara Technologies, and Tata Motors.