By- Srishti Verma
The Vedanta Group was founded in 1976 by Anil Agarwal, who also serves as its chairman. The business produced cables prior to its 2003 IPO on the London Stock Exchange.
Patna, Bihar, is the hometown of Anil Agarwal. He was born in a Marwari family in 1954. His family owns more than 70% of the business. His family has a net worth of more than Rs 32000 crore
Father of Anil Agarwal originally operated a small business that made aluminum conductors. In Patna, Anil attended Miller High School. Instead of going to college, he joined his father's company.
He was 19 when he left for Mumbai. He would procure scrap metal from cable companies, which he would then sell in Mumbai for a handsome profit.
In 1976, he bought Shamsher Sterling Corporation, a former copper producer.
He ran both of his enterprises for ten years. In 1986, he built a facility to make cables filled with jelly. To cut the cost of inputs, he started creating the metals needed for his operation rather than buying them
By 1993, his Sterlite had become the first private company to process copper. He later purchased Madras Aluminium. The following year, he acquired Hindustan Zinc Limited, a government-run business. He holds a 65 percent stake in the company.
He also bought Cairn India, the largest privately owned oil company.
According to reports, Anil Agarwal has promised to donate 75% of his riches to charity.
Forbes estimates that he has a personal net worth of Rs 16,400 crore.