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Bhadresh Shah
Managing Director, AIA Engineering LtdNationalityIndian
LeagueBusiness Leader
EducationB.Tech, Metallurgical Engineering, IIT Kanpur
Net Worth$1.6 billion (As of July 27, 2021)
Bhadresh Shah's Assets:
Bhadresh Shah's Journey so far ...
Before you go ...
- Stake in AIA Engineering Limited
Bhadresh Shah's Journey so far ...
- Brought up in a family of doctors, Bhadresh Shah decided to study engineering because he wanted to do something different
- A few years after graduating, he set up a foundry with the help of a bank loan and some capital received from his father. He supplied metal castings but following challenges in the business, lost all his money in the first year itself
- In 1977, he changed the course of his business and started manufacturing replacement components for power plants
- In 1979, he partnered with a friend to create Ahmedabad Induction Alloy (AIA) and started manufacturing steel alloys and iron castings for power plants
- As business grew, Shah felt the need for technological upgrade and in 1988, his company tied up with the Belgian consultancy firm Slegten SA to get design expertise
- The success of the tie-up prompted Magotteaux, which had in the past turned down AIA’s partnership proposal, to approach Shah for a joint venture. In 1991, AIA Magotteaux was formed
- The JV went smoothly for some years but towards the end of the ’90s, things started getting rough. Following differences in the partnership, Shah bought back Magotteaux’s share in the India unit of the company and AIA Engineering was created
- With an office in London, he soon started working on expanding the company’s international footprint
- Shah became the managing director of AIA Engineering in 2002
- Shah acquired Vega UK in 2003, which became the global distributor of AIA products outside India. It currently has a presence in over 75 countries
- The company debuted in the public markets in 2005
- He expanded the company’s service areas to include the mining sector in 2008
- Today, AIA is the world’s second-largest producer of hi-chrome casting and Shah owns around 58.5% shares in the company
Before you go ...
- Shah likes to read about the French ruler Napoleon Bonaparte and draws inspiration from his life
Last Updated: 27/07/2021
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