Mumbai couple Sanjay and Alpana Dangi are worth $2.3 billion Dangi says days of easy money in Indian stocks are over Shares of Authum Investment & Infrastructure Ltd., a shadow bank controlled by Dangi, have surged 900% in the past three years. Authum, which invests in mid- and small-sized companies, has a market capitalization of about 288 billion rupees ($3.3 billion) making it more valuable than London-based Man Group Plc, the world’s biggest publicly traded hedge fund, despite having only a fraction of its assets. In addition, the 54-year-old’s purchase in 2022 and 2023 of two shadow banks — Reliance Commercial Finance and Reliance Home Finance from Anil Ambani, the younger brother of Asia’s richest man Mukesh Ambani — has made people notice him. By acquiring the two shadow banks, Authum gained access to Reliance’s lending infrastructure, employees and IT system that would otherwise take time and money to build from scratch, Dangi said. Of the 450 employees on Authum’s payroll, 400 are working to recover loans.