Inder Jaisinghani, a billionaire, currently has a net worth of over Rs 9,000 crore. However, his journey to success was not easy, as he and his brothers had to endure struggles for several decades before achieving success. Jaisinghani is the chairman and managing director of Polycab India, which is a prominent electrical wire and cable company with a market capitalization of Rs 49,294 crore.
Inder Jaisinghani’s journey began at the age of 15 when he had to give up his education to take over his father’s small electrical shop in Mumbai’s Lohar Chawl after his father passed away in 1968. Along with his brothers Girdhari, Ajay, and Ramesh, he started expanding the family business.
In 1983, the Jaisinghani brothers founded the electrical wires and cable brand, Polycab. Starting with a small garage-like shop of 1,000 sq ft, they experimented with wires. While his brothers focused on production, Inder Jaisinghani took care of sales and marketing. After an initial struggle, they established a manufacturing unit in Gujarat’s Halol. Over the years, they steadily grew their business and took the company from strength to strength.
In 2008, a major turning point came for Polycab when the International Finance Corporation, the private equity arm of the World Bank, invested in the company and acquired a stake. Later in 2014, the Jaisinghani brothers diversified the company’s product line to include LED lighting, switches, and electric fans. The following year, in 2019, they took the company public, which significantly increased their net worth. More recently, in 2022, Polycab experienced positive growth in the power sector, which boosted the company’s stock and contributed to Inder Jaisinghani’s net worth exceeding Rs 9,000 crore. As a result, in 2021, Jaisinghani became one of India’s newest billionaires.