Ritika
Anil Agarwal: Anil Agrawal, chairman of Vedanta Group, a company related to metals, mining and petroleum sector, is again in discussion these days. Vedanta Group is going to set up a semiconductor chip manufacturing plant in Gujarat in collaboration with Foxconn of Taiwan at a cost of Rs 1.54 lakh crore. Anil Agarwal’s Vedanta Group is also going to invest Rs 25,000 crore in Odisha. The company has so far invested Rs 80,000 crore in Odisha. One thing is clear from this that Anil Agarwal is not short of money and he seems eager to invest. The story of Anil Agarwal’s life and his journey till becoming a metal magnet is very interesting which can inspire anyone.
Starting from Mumbai
At the age of just 19, Anil Agarwal left his home and family in Patna city and came to Mumbai, the city of dreams. Then he had nothing but a tiffin box and bedding. Stayed in a room in Mumbai rented for Rs 21, which had to be shared with seven other people. He opened an office equal to an area of 8 * 9 feet. From where they started selling scrap metal. Within a few decades, Mayanagari ruined his fortune. He first bought Shamsher Sterling Corporation, a copper company that was on the verge of bankruptcy in Mumbai. In 1970, he raised Rs 16 lakh to buy this company. Which used to be a huge amount at that time. He bought this company with the money deposited in the savings made by his friends, family and himself. However, despite this, he continued the business of trading in scrap metal for the next 10 years, which used to be his family business. Leave business school, he never even went to college, but went on the relief of becoming a big industrialist.
Sterlite Industries IPO in 1988
In 1986, he formed Sterlite Industries, which was the country’s largest copper producer company. In 1988, the company also brought its IPO and got it listed on the stock exchange. Established Copper Telephone Cables Plant with the money raised through IPO. After 7 years, Anil Agarwal bought 83 per cent stake in the loss-making ailing company Madras Aluminum for Rs 55 crore. The biggest feature of Anil Agarwal was that he used to buy companies which were facing financial crisis and by rejuvenating them, he used to get bigger revenue from that. He bought mines in Tasmania for only $ 2.5 million and started earning $100 million in annual revenue from it. In 2002, Anil Agarwal bought Hindustan Zinc after the government disinvestment. It was being said then that the company has reserves for only 5 years and its zinc manufacturing capacity was 1.5 lakh tonnes annually. But now the manufacturing capacity of the company has gone up to one million tonnes and Anil Agarwal recently said that the company has reserves for the next 40 years.
First Indian to list a company on LSE
Anil Agarwal left Mumbai and shifted to London with his family. In 2003, he got his company Vedanta Resources listed on the London Stock Exchange. And he was the first Indian whose company was listed on the London Stock Exchange. Over the next decade, Agarwal bought several mines in Africa, Australia and other regions. After Mining and Metals, Anil Agarwal stepped into the petroleum sector. He bought the country’s private sector oil company Cairn Energy for $ 9 billion. In 2012, Vedanta Resources Plc merged Lead Goa, Vedanta Aluminum and Madras Aluminum to form a new company named Lead Sterlite. Whose value was $ 20 billion.
Now will make semiconductor chip
After 15 years of listing of Vedanta, Anil Agarwal delisted Vedanta from the London Stock Exchange and made it a private company. Now Anil Agarwal is going to step into the manufacturing of semiconductor chip. So that the chip requirement of the automobile to electronics sector can be met and the dependence on China can be reduced.
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