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Market Watch

Devendra Jain

Founder, Inox Group

NationalityIndian

LeagueBusiness Leader

EducationGraduate in History (Hons.), St. Stephen's College, New Delhi

Net Worth$2.8 billion (As of July 28, 2021)

Devendra Jain’s Assets:

Stake in Inox Group

Devendra Jain’s Journey so far ...

Devendra Jain’s father owned a successful paper and newsprint trading business. But after graduating, instead of joining the already established family business, Devendra decided to venture out on his own
After stumbling upon the idea of extracting, liquefying and selling gases from air, Jain formed Industrial Oxygen Co. Pvt. Ltd. in 1963 in Pune
The company produced industrial gases widely used in the steel, manufacturing and healthcare sectors
In 1987, Jain diversified the business and created Gujarat Fluorochemicals Limited, which manufactured refrigerants
INOX India, the cryogenic engineering firm which manufactures cryogenic equipment, was formed in 1992
He then started Inox Leasing and Finance Limited (ILFL) — a financing and investment firm — which was incorporated in 1995
In 1999, Industrial Oxygen was partly (50%) sold to an American firm called Air Products and subsequently, INOX Air was formed
The group’s entertainment business INOX Leisure — which operates multiplexes across the country — was formed in 2002
In 2006, the group decided to invest in renewable energy. A few years later, in 2009, INOX Wind was incorporated with the subsequent formation of INOX Renewables
According to their website, currently, the INOX Group is a $3 billion group with interests in various sectors, including industrial gases, fluorochemicals, PTFE, cryogenic equipment, LNG storage & distribution equipment, wind turbines, renewable energy and entertainment
Apart from Devenra Jain, his sons Pavan and Vivek and his grandsons Siddharth and Devansh Jain control the various aspects of the group’s businesses
Of all the group companies, Gujarat Fluorochemicals Limited, Inox Leisure Limited and Inox Wind Limited are listed in the capital markets
The group has a workforce of more than 10,000 people and a distribution network spanning 50 countries

Before you go ...

INOX is an abbreviation for Jain’s initial venture Industrial Oxygen

Last Updated: 28/07/2021

Devendra Jain News

Foundry industry aiming to double market size to USD 32 bn in 7 years: IIF
In November 2021, prices of pig iron and steel scrap stood at Rs 44 and Rs 39 per kg, respectively. In March, the rates of the two items have climbed to Rs 68 and Rs 52 a kg.
Dilip Buildcon shares rise after bagging Rs 2,016 crore-project
"We are extremely happy that we bagged this order. This will further strengthen our position in the road construction sector," CEO Devendra Jain said.
Financial services secretary Rajiv Takru seeks details of top 50 NPAs from state-run banks
The finance ministry now wants banks to step up their recovery process and ensure that the restructured accounts are back on track.
Over a dozen banks posted 100 per cent plus jump in net NPAs: Survey
SBI too saw its net NPAs shoot up by 40% in during the first half of 2012-13 as against an increase of 28% in the previous financial year.
How Devendra Jain made a fortune from reviving sick firms
Devendra Jain made Rs 1 crore last year, helping bankrupt companies to get back on their feet.
NPAsource.com to help dispose NPA's worth Rs 20,000 cr: Devendra Jain
Providing an online platform for resolution of NPAs- NPAsource.com - today said it aims at disposal of Rs 20,000 crore worth NPAs over the next two years.