Meet man who started his journey with Rs 500, built Rs 3197 crore company, lost Rs 1400 crore after...

Several successful businessmen in India have built billion-dollar companies after working in various sectors. They initially earned a low income, but due to their consistency and hard work, they now own crores of wealth. However, they also faced ups and downs in their lives and lost crores. One such person is A Velumani, founder and chairman of Thyrocare Technologies, a chain of diagnostic and preventive care laboratories. The company has a market cap of Rs 3197 crore as of February 7.

Velumani recently revealed that he lost Rs 1400 crore after investing in a startup. Velumani added that he started his journey with Rs 500 in 1982. "I was an entrepreneur. Created a huge fortune. Now I am new as an investor and a big victim. As an individual investor, I Lost a record 1400 crs investing in a start up," he wrote on X.

Velumani, who started Thyrocare in 1995, has over 35 years of experience in diagnostics Research and Business. He has also worked at BARC Mumbai for 15 years. Velumani holds a BSc in Chemistry from the University of Madras and an MSc in Biochemistry from the University of Bombay. Later, he earned a doctor's degree (PhD) in Thyroid Physiology in 1995 from University of Mumbai while working with Bhabha Atomic Research Centre (BARC). He is also the MD of Nueclear Healthcare Limited, which is a Radiology vertical, that focuses on Cyclotrons and PETCT for diagnosing and monitoring in Oncology.

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