Ace investor Rakesh Jhunjhunwala, referred to as India's Warren Buffett, has died aged 62.
He had been suffering from kidney disease and ischemic heart disease.
The billionaire, who backed India's newest airline, Akasa Air, was brought to Mumbai's Breach Candy Hospital on Sunday morning
Officials at the hospital told CNBC TV-18 he died due to a cardiac arrest.
Jhunjhunwala had done an interview with CNBC TV-18 earlier this week, which had sparked concern on social media about this health.
'Regardless of the global developments, the Indian market will grow, but at a slower pace,' says ace investor Rakesh Jhunjhunwala.@ShereenBhan#cnbctv18market#stockmarket#stockmarketindiapic.twitter.com/8Vta15SYSi
— CNBC-TV18 (@CNBCTV18News) August 8, 2022
"Really sad to see sir like this," a Twitter user had commented. "Get well soon, Rakesh Sir."
Many others also left comments expressing concern.
In the interview, Jhunjhunwala had offered insights on Indian markets and Akasa Air.
"Regardless of the global developments, the Indian market will grow, but at a slower pace," he had told the news channel.
News of Jhunjhunwala's death came just a week after Akasa Air's first flight took off. The ace investor was among those who flew with the airline on its maiden journey.