Meet Indian billionaire whose company bags Rs 3000 crore order from BSNL for...

Inder Jaisinghani is a well-known name in the business world. He runs Polycab India, a leading cables and wires manufacturer, as chairman and director. The company has bagged an order worth approximately Rs 3,003 crore from BSNL for Bharat Net in the Bihar telecom circle, the firm said in an exchange filing on Thursday, March 13. Currently, the market cap of Polycab India is Rs 75210 crore. The share of the firm closed at Rs 5,000 on Thursday. Jaisinghani started the firm as a trading firm in 1986. In 2014, Polycab expanded into making products such as electric fans, LED lighting, switches and switchgear.

Inder Jaisinghani's net worth

Jaisinghani has a real-time net worth of Rs 13918 crore, as per Forbes. The 71-year-old currently stands at 2059th spot in the world's billionaires' list. He was appointed chairman and director of Polycab on December 20, 1997. Later, he was reappointed as the same with effect from August 28, 2019. His company went public in 2019. The share got a boost in 2022 from increasing electrification and an uptick in spending in the power sector. In 2008, International Finance Corporation, the private equity arm of the World Bank, picked up a stake in the company.

Polycab's contract with BSNL 

This project will involve a three-year construction period, followed by a 10-year maintenance contract. The maintenance cost is structured at 5.5 percent per annum of capex for the first five years, and 6.5 percent per annum for the subsequent five years. The contract includes Rs 1,549.66 crore capex, Rs 929.79 crore opex and Rs 523.53 crore opex for existing network, totalling to Rs 3002.99 crore.

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