Billionaire Inder Jaisinghani is a living example of patience, struggle and determination, who established a company worth Rs 79,700 crore after overcoming adversities. In 1968, at the age of 15, he lost his father. Inder, the second of four siblings, took over his father's shop after his mother decided to withdraw him from school.
Not many people are aware that Inder Jaisinghani inherited charge of the tiny electrical store his father had established in Mumbai's Lohar Chawl. With the help of his brothers Girdhari, Ajay, and Ramesh, Inder started growing the little family enterprise. 2014 saw Polycab expand its product line to include items like switches, switchgear, electric fans, and LED lighting.
In 1983, Jaisinghani Brothers laid the foundation of Polycab India. Initially experimenting with wire production in a small garage, they later established a production unit in Gujarat.
Starting with the manufacturing of PVC insulated wires and cables, Polycab soon expanded its production to various types of cables, including power cables, control cables, building wires, and communication cables. Inder Jaisinghani's understanding of wires and cables according to Indian and international standards allowed Polycab to manufacture products tailored to the needs of some customers.
In 2008, the company secured investment from the private equity arm of the World Bank, the International Finance Corporation (IFC), which acquired a stake in Polycab. In 2014, the company diversified its product portfolio by adding LED lights, switches, and electric fans. In 2019, Inder Jaisinghani took Polycab public, listing it on the stock market. In 2021, Inder Jaisinghani's name found a place in Forbes' list of Indian billionaires and today his net worth is approximately Rs 53,000 crore and the market value of Polycab India as of October 14, 2023, is Rs 79,700 crore.
