Mumbai: Vijaypat Singhania, former chairman of Raymond Group and a noted aviator, died in Mumbai on Saturday at the age of 87, the company confirmed.

His son Gautam Singhania, chairman and managing director of the Raymond Group, announced the news of his father’s passing on the social media platform X. A company spokesperson said Singhania died peacefully and that his last rites would be performed on Sunday.

Singhania was a prominent figure in India’s textile industry and led the Raymond Group for nearly two decades before stepping down as chairman in 2000. During his tenure, he played a key role in expanding the company’s presence in the domestic and global apparel markets, helping establish Raymond as one of India’s best-known fabric and clothing brands.

Apart from his business achievements, Singhania was widely recognised for his passion for aviation. An accomplished aviator, he once set a world record for achieving the highest altitude in a hot air balloon flight, earning international recognition in the field of adventure aviation.

In recognition of his contributions to industry and aviation, the Government of India honoured him with the Padma Bhushan, the country’s third-highest civilian award.

Singhania handed over the leadership of the Raymond Group to his son Gautam in 2000 and also transferred his entire 37 per cent stake in the company to him.

In later years, father and son were involved in a legal dispute over property and financial matters, which was eventually resolved.

Singhania is remembered as one of India’s prominent industrialists who combined business leadership with a passion for aviation and adventure.