Steve Smith Earns ₹9 Crore in a Day as Early Bet Pays Off Big

Former Australia skipper Steve Smith is smiling all the way to the bank as Koala, an Australian furniture and bedding firm, got listed on Australian Securities Exchange today, as per a report in nine.com.au.

The former Australian skipper, who had made a $100,000 (64 lakh approximately) investment in the firm in 2015 and was holding a 10% stake then, has seen his stake fall to 3.9 per cent over the years, but it has grown handsomely.

On the day of listing, his stake was valued at $11.9 million (76.7 crore) and his stake went up to $13.2 million (85.1 crore) by the end of trading, as the share price jumped 11.7 per cent in trade, thus giving him a gain of approximately $1.4 million (9 crore) on day one.

Steve Smith is now a top shareholder through his firm SS415 Investments and his other investment areas include fin-tech, consumer goods and online markets.

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