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Meet Sanjay Agarwal, CEO who failed in class 8, built Rs 46,000 market cap company
Sanjay Agarwal, who failed twice while attempting to clear CA, founded a finance firm in 1997 and built it into the AU Small Finance Bank in a two-decade journey.
Updated : Apr 17, 2023, 03:09 PM IST
 "Sanjay Agarwal, CEO and MD of Rs 46,000 crore m-cap AU Small Finance Bank")
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Sanjay Agarwal is among the younger lot of billionaires in India. One of Rajasthan’s richest persons today, Agarwal is a self-made business tycoon who took his venture from a small finance firm to a full-fledged bank in a matter of 20 years.
Diving into business fresh out of his education, Sanjay established a stable company that steadily grew into a successful listed financial institution with a market cap of over Rs 45,000 crore. Sanjay Agarwal is the Managing Director (MD) and Chief Executive Officer (CEO) of AU Small Finance Bank.
A boy who failed in class 8, gave up his cricket dream to pursue a career in the world of finance. Sanay was born to an engineer father working with Rajasthan State Electricity board. After failing in class 8, he switched from English to Hindi medium to find his way forward.
After graduating in commerce from Government College, Ajmer, he went on to pursue a career as a Chartered Accountant. Sanjay joined a CA firm and attempted to crack the exam. He failed twice and even had a nervous breakdown, he once told Times of India.
Sanjay got a job in Mumbai after becoming a CA but decided to stay back in Jaipur and start his own business. Without any capital, a 25-year-old Sanjay convinced local businessmen to invest into a finance company.
He would finance vehicles and pick up a small fee in return. Slowly he expanded his interests, owning businesses like a truck company and a granite factory. However, he decided to narrow down his focus on finance around 2000. Some of the major benchmarks were a partnership with HDFC in 2002 and raising money from Motilal Oswal in 2009.
After two decades of opening a company without any capital, Sanjay Agarwal successfully converted his firm into AU Small Finance Bank in 2017. The Jaipur-headquartered AU Small Finance Bank today has over 1,000 branches across the country and over 30 lakh customers. Sanjay Agarwal’s net worth stands at over Rs 10,600 crore ($1.3 billion) in 2023.
