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Business News›Magazines›Panache›Panache People 101›Devendra Jain
    Devendra Jain

    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

    • Congress member Balasaheb Thorat, NCP (SP) legislator Rohit Pawar, BJP's Ashish Shelar and Bhaskar Jadhav of the Shiv Sena (UBT) asked the government if it will enact a strong law to curb paper leaks.
    • “NTPC stock has seen a consolidation phase in the last few weeks. However, the prices have managed to find support above its 100-Days EMA. Traders can buy for a target of Rs 400-415 in the next few weeks,” Ruchit Jain, Lead Research, 5paisa.com, said.Stock Radar | Why NTPC could hit fresh record highs in next few weeks
    • Stand-up comedian Daniel Fernandes' show in Hyderabad was canceled following a threat from BJP leader Raja Singh over jokes about the Jain community. Despite apologizing and removing the offending video, Fernandes continues to receive threats. He emphasized the importance of comedy in bringing people together and condemned the violence.
    • The exchange of goodwill gestures between India and Bangladesh, with PM Sheikh Hasina sending mangoes, hilsa fish, and sweets to Tripura CM Manik Saha, reflects the deepening ties between the two nations. In return, Saha's gift of pineapples showcases the positive trajectory of India-Bangladesh relations, strengthening bilateral cooperation.
    • Vivek Jain, Head of Investments, Policybazaar.com says that in retirement planning, it's vital to consider both market-linked and guaranteed pension plans, allocating funds based on age and risk tolerance. Including a spouse in joint life coverage and leaving a legacy for nominees are key aspects of securing a stable financial future.
    • After the Lok Sabha polls, the Mahayuti alliance is strategizing for the upcoming assembly polls, focusing on a populist budget. With the MVA combine's strong performance, a challenging political landscape lies ahead for the ruling alliance in Maharashtra.
    • Doda (J&K): Security forces’ encounter with terrorists took place in Doda’s Gandoh on June 26. Additional Director General of Police of Jammu Anand Jain said that three terrorists have been neutralised in this encounter. He further told ANI that two M-4s and one AK-47 rifle have been recovered. He said, "Three terrorists have been neutralised in this encounter and arms and ammunition have been recovered from them. A search operation is going on in the area. We launched a search operation as soon as we received information of the presence of terrorists. Two M-4s and one AK-47 rifle have been recovered."Gandoh Encounter: '3 terrorists neutralized, arms recovered', says Jammu’s ADGP Anand Jain
    • This investment scheme focuses on Tri Party Repo agreements involving Government securities or treasury bills. Its goal is to mirror the performance of the NIFTY 1D Rate Index, aiming to achieve similar returns while minimizing any tracking discrepancies.
    • To be set up at an investment of Rs 2,000 crore, the electric scooter maker’s new plant will produce up to one million vehicles and battery packs per year.
    • This will be Ather's third manufacturing plant. The plant will produce up to one million units of vehicles and battery packs annually and create around 4,000 jobs, deputy Chief Minister Devendra Fadnavis said.
    • Delhi Chief Minister Arvind Kejriwal was arrested by the CBI in connection with the Delhi excise policy case, following permission granted by the Rouse Avenue Court. He was brought before Special Judge Amitabh Rawat for formal procedures. The arrest comes after earlier questioning at Tihar Jail and precedes the CBI's move to seek custody from a Delhi court. The Delhi High Court, on a vacation bench led by Justice Sudhir Kumar Jain, criticized a trial court's bail order as hasty, halting its implementation pending further review under Section 439(2) of the CrPC.
    • Staying the lower court order, Justice Jain referred to an order passed by a coordinate bench of the Delhi HC in April wherein it had ruled out any mala fide on the part of the ED in arresting Kejriwal. The lower court judge, "after following the judicial discipline, should not have observed" in her order "that there was mala fide on the part of ED particularly in light of observation made" by the coordinate bench, it said.
    • The Supreme Court urged the Delhi High Court to promptly decide the bail plea of former AAP minister Satyendar Jain in a money laundering case, emphasising that bail matters should not be needlessly adjourned. An observation made by Justices Manoj Misra and SVN Bhatti as they disposed of Jain's plea against a six-week adjournment, with the high court scheduled to hear the case on July 9.
    • The premiere caps a busy year for Jain - former co-chief investment officer at Millennium Management - who has travelled the world pitching his fund. He initially aimed to gather as much as $10 billion. But after struggling to hit that goal, he cut client fees to entice investors and reduced his target to between $5 billion and $6 billion.
    • Justice Ashok Kumar Jain of the high court issued the notices to the NTA and the central government and sought their response. The court considered the matter to be serious and scheduled the hearing on July 10, counsel for petitioners Rampratap Saini said.
    • The GST on petrol and diesel and all the passenger fuels will take a lot of time. GST on ATF and natural gas could come in hopefully soon, but for other petroleum products like petrol and diesel and other passenger fuels, where a lot of revenue is involved, it will take some time, says Pratik Jain, Partner, PwC India
    • The smartphone market in the June quarter is likely to be tepid due to the impact of elections, heatwaves, and floods, leading some market experts to lower their growth outlook for 2024 smartphone shipments. Analysts expect a slowdown in Q2 shipments compared to Q1 due to fewer launches and adverse weather conditions. Counterpoint Research forecasts a 3-5% decline in Q2 shipments, with a revised annual forecast of 152 million units, reflecting a 3% year-on-year growth, down from the initial 5% growth prediction.
    • On protests in Beed, Maharashtra Minister Chhagan Bhujbal on June 22 said that the demand raised was to get a separate reservation for the OBCs and Maratha people. "We just want to say that we are not against the Maratha people, we want OBCs and Maratha people to get a separate reservation. There should not be enmity between anyone. We should discuss things peacefully…Yesterday CM Eknath Shinde had a meeting with ministers and several people where it was decided that actions will be taken on the people who have taken a form for OBC certificates through false means. All the political parties will sit and take a decision on this. Devendra Fadnavis has also shown his support for caste-based census," said Chhagan Bhujbal.Beed protests: Want OBCs and Marathas to get separate reservation, says NCP's Chhagan Bhujbal
    • The repair work by the Mumbai Metropolitan Region Development Authority (MMRDA) is underway on the approach road connecting Atal Setu in Maharashtra's Mumbai.. Project Head Kailash Gantra said that the repair work will be completed by this evening.
    • Rahul Jain of Dolat Capital says that the guidance for the current fiscal has been very weak in the case of the IT companies that give explicit numbers, be it Infosys or HCL Tech. And if they do not surprise positively during the earnings season, all the momentum can gradually fizzle out.
    • The Enforcement Directorate (ED) has arrested Mahesh Mittal, proprietor of Shree Ganpati Tubewell Company, and Padamchand Jain, proprietor of Shree Shyam Tubewell Company, in connection with a money laundering investigation into alleged irregularities in the Jal Jeevan Mission scheme in Rajasthan. The scheme aims to provide safe drinking water through household tap connections.
    • Maharashtra minister Girish Mahajan stated that quota activist Maroj Jarange's demand to include the term "sage soyare" in the Maratha reservation notification is unlikely to withstand legal scrutiny. The term, meaning relations through birth and marriage, faces legal challenges. Mahajan mentioned this in Pune on Wednesday.
    • “Indian Hotels stock has gone through a consolidation phase in last couple of months which just seemed to be a time-wise correction within an uptrend. Traders can buy for a target of Rs 650-670 in the next 3-4 weeks,” says Ruchit Jain, Lead Research, 5paisa.com.Stock Radar | Time to buy? Indian Hotels on the cusp of range breakout: Ruchit Jain
    • Private equity firm BPEA Credit closed the first round of its latest rupee fund, SSTIF-I, targeting ₹750 crore with a green shoe option. Kanchan Jain leads the fund with a unique yield profile for 10-12 investments in various sectors.
    • Union Minister and senior BJP leader Piyush Goyal rejected speculations on a change of leadership in the party's Maharashtra unit following the party's dismal performance in the recent Lok Sabha elections.
    • Load more
    DisclaimerThe content of this page has been aggregated from multiple websites. Some information can change over the passage of time.
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