Meet man who once struggled to afford slippers, built Rs 30000000000 crore company, later suffered Rs 1400 crore loss after…
GH News October 06, 2024 12:06 PM
New Delhi: There are no secrets to success. There’s a profound sense of joy and inspiration that emerges when someone from a disadvantaged financial background achieves success. Their journey often echoes the classic rags-to-riches story reminding us that dreams can become reality regardless of one’s background. They serve as a testament to the human spirit showing that with determination and grit anyone can rise above their circumstances and start a brighter future. Speaking on the same lines todays success story revolves around Arokiaswamy Velumani the founder of Thyrocare Technologies Ltd a chain of diagnostic and preventive care laboratories. It is headquartered in Mumbai. Arokiaswamy Velumani Family Background Hailing from a family of landless farmers he grew up in a small village near Coimbatore Tamil Nadu. After earning his chemistry degree from the University of Madras in 1978 Velumani embarked on his professional journey as a shift chemist at Gemini Capsules. His mother earned a living by selling milk from their buffaloes. His extraordinary success is all the more impressive given his humble beginnings as the son of a landless farmer who struggled to provide necessities like trousers and slippers for his children. Scientist-turned-entrepreneur Arokiaswamy Velumani established a zero-debt unicorn with an initial investment of just Rs 1 lakh. In 2021 Velumani sold his company(66% stake) to PharmEasy for over Rs 4500 crore. Meet man who once struggled to afford slippers built Rs 3000 crore company later suffered Rs 1400 crore loss after... It all started in 1995 when Velumani started Thyrocare. At present the company holds a market capitalization of Rs 4543 crore. Despite his extensive experience of almost 35 years Velumani disclosed earlier this year that he lost Rs 1400 crore after investing in a startup. He reflected on his journey noting that he began with just Rs 500 in 1982. Sharing a post on X(formerly Twitter) he said I was an entrepreneur. Created a huge fortune. 😂 Now I am new as an investor and a big victim. As an individual investor I Lost a record 1400 crs investing in a start up. 😩For a man who started the journey with Rs 500 in 1982 I feel conned. I was greedy and blinded. Costly lesson to learn. But lesson is: Be it promoters or directors or fund managers or even investors. Some are greedy. Often collapse. Majority are Fair. Weather well. Few are highly intelligent and highly Honest. Make fortunes the post further reads. I was an entrepreneur. Created a huge fortune. 😂 Now I am new as an investor and a big victim. As an individual investor I Lost a record 1400 crs investing in a start up. 😩 For a man who started the journey with Rs 500 in 1982 I feel conned. I was greedy and blinded.… https://t.co/dqHmfa9Ngx — Dr. A. Velumani.PhD. (@velumania) February 5 2024 With a strong academic background in Chemistry and Biochemistry as well as a PhD in Thyroid Physiology Velumani established a robust foundation for his career in diagnostics and business. Prior to launching Thyrocare he accumulated valuable experience during a 15-year tenure at BARC in Mumbai. Alongside his role at Thyrocare he also serves as the Managing Director of Nueclear Healthcare Limited which focuses on cutting-edge radiology technologies for cancer diagnosis and monitoring. As of April Thyrocare Technologies has achieved a market valuation of Rs 3300 crore.
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