Several successful businessmen in India went through tough times before becoming successful. Some even lost their loved ones at a very young age. And subsequently had to quit studying. However, with hard work and passion, they managed to become billionaires. One such person is Inder T Jaisinghani, an Indian billionaire who runs Polycab India as chairman and managing director. The company makes electrical wires and cables and has a market cap of Rs 78994 crore as of April 9, 2024.
According to Forbes, Jaisinghani has a real-time net worth of Rs 14140 crore as of April 9. He was forced to quit school at just 15 after his father's sudden death. Jaisinghani started his journey from a little shop in Mumbai’s Lohar Chawl. The 71-year-old started the company as a trading firm in 1986 and expanded it into making electric products such as electric fans, LED lighting etc.
Jaisinghani was appointed as chairman and director of the company in December 1997. Later, he was reappointed as chairman and managing director of Polycab India in August 2019. Under his leadership, the company has completed over 25 glorious years of success.
International Finance Corporation, the private equity arm of the World Bank, picked up a stake in the company in 2008. He made the company public in 2019. The share price of Polycab closed at Rs 5,258 on Tuesday on NSE. In 2022, the stock got a boost after an increase in electrification and an uptick in spending in the power sector.
READ | Average salary of CEO In India rose by 40% compared to pre-COVID-19, it is...
