Dalal Street thrives on surprises, but few have been as dramatic as the sudden rise of Rajendra Kamalakant Chodankar. Once an obscure name in market circles, Chodankar has found himself vaulted into India’s billionaire ranks thanks to an astonishing rally in RRP Semiconductor Ltd. This stock has surged more than 66500 percent in the last 18 months.
On October 30, the stock scaled a fresh peak of Rs 10,673 on the BSE, gaining 2 percent intraday and propelling the company’s market value beyond Rs 14,541 crore. Chodankar, who holds 74.5 percent of the company’s equity — roughly 1.02 crore shares — now commands wealth in excess of Rs 9,000 crore.
What makes this rise even more intriguing is that he is not listed as a promoter at all. Instead, his name appears quietly under the retail shareholder category, a quirk that has only deepened the mystery.
Rumours Ignite, Company Scrambles
The spectacular rally has been fuelled not by blockbuster financials or a breakthrough technology, but by a storm of rumours swirling through market chats and social media.
Among them: claims that cricket legend Sachin Tendulkar had invested in the firm and whispers that the Maharashtra government had allotted it one hundred acres of land. Both, the company says, are pure fiction. It has publicly clarified that Tendulkar has no association with RRP and no land allotment has been received.
Another narrative suggested government-linked chip orders under India’s semiconductor mission and exports worth Rs 6.15 crore. That too has been shot down. In a rare admission, the company conceded that its fundamentals do not justify a rise from Rs 10 to near Rs 10,000 a share.
Adding to the drama, nearly 99 percent of the stock is locked up until March 31, 2026 — leaving just about four thousand shares actually available for trading. The wafer-thin float has created a playground ripe for speculation, and the company alleges “unethical” manipulation is at work. Legal action is being initiated against those spreading falsehoods and exploiting both the company’s name and Tendulkar’s reputation, the company added.
A Quiet Corner Office, Now a Headline Name
RRP Semiconductor operates out of an unassuming industrial address in Navi Mumbai. According to its annual report, Chodankar was appointed a non-executive additional director and had extended up to Rs 8 crore in loans to the firm in FY25 at eight percent interest.
In May 2024, shareholders cleared a plan to issue over one crore shares to him at Rs 12 each — effectively handing him 74.5 percent of the expanded equity. Of this, Rs 6 crore was adjusted against existing loans, with the remainder paid in cash. That low-cost allotment has since turned into one of the most sensational paper gains the Indian market has ever seen.
From Niche Trader to Chip Dreamer
Until recently, the company was known as G D Trading & Agencies, modestly dealing in electronic components. But with India’s semiconductor ambitions gathering pace, the firm rebranded and reset its mission to ride the national chip wave. Its filings cite the country’s surging electronics demand, policy support and production-linked incentives.
At the same time, it openly acknowledges the realities of the semiconductor business — volatile supply chains, global tensions, rapid tech cycles and significant research and development costs that have tripped even global titans.
Strip away the stock-market spectacle and the numbers tell a calmer story. Revenue jumped to Rs 31.6 crore in FY25 from Rs 38 lakh a year earlier, while net profit swung to Rs 8.47 crore from a minor loss of Rs 1.7 lakh. But momentum has wavered: the June 2025 quarter recorded no revenue at all, compared with Rs 6 crore in the March period, though losses narrowed to Rs 29 lakh from Rs 1.6 crore.
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