Born in an ordinary family in Bhilwara district of Rajasthan, Satyanarayan Nuwal faced financial hardships from a very young age but now owns $4.6 billion.
Success story of Satyanarayan Nuwal: You must have heard many success stories of businessmen who started their business with a small amount and now own billions. However, here is a story about a man who faced many hardships in life but never let those issues take over his high spirits. Satyanarayan Nuwal, the founder and executive chairman of the Board of Solar Industries India Ltd, took a loan of Rs 60 lakh from the State Bank of India (SBI) and set up a small unit called ‘Solar Industries India’. Here is all the information you need to know about the success story of Satyanarayan Nuwal:
First business of Satyanarayan Nuwal
In his initial business, Satyanarayan Nuwal’s company started supplying explosives to Coal India Limited. After Nuwal started getting success in this explosives business, he invested Rs 1 crore within a year. The huge investment helped the small plant grow into a large manufacturing hub and eventually in the year 1996, Nuwal’s company got a license to manufacture 6,000 tonnes of explosives annually, which helped the company grow by leaps and bounds.
Net worth of Satyanarayan Nuwal
According to Forbes, the net worth of Satyanarayan Nuwal is $4.6 billion (about Rs 39,000 crore).
Family background of Satyanarayan Nuwal
Born in an ordinary family in Bhilwara district of Rajasthan, he faced financial hardships from a very young age as his father worked as a Patwari and earned meagre income to support his family. Moreover, due to the financial hardships that his family was facing, Satyanarayan Nuwal could not continue his studies after he passed Class X.
Satyanarayan Nuwal got married at 19
On the personal front, Satyanarayan Nuwal got married at the age of 19. During his times of financial struggle, Satyanarayan did not have enough money to rent a house, forcing him to spend many nights at a Railway station. He also sold fountain pens to earn his living during those times.
The official website of Ramdeobaba says that Satyanarayan Nuwal is a philanthropist at heart and lives by the mantra that business organizations have a social responsibility not only to employ ethical, fair and ecologically sensitive business practices but also to actively contribute to the social and economic development of the communities.
