Some stories are so incredible that they inspire others to pursue their dreams. Ashwin Desai's story is one such example. Rising from the confines of a small one-room house, he has achieved remarkable success, amassing a fortune of Rs 10,046 crore and earning the title of Surat’s richest man. As the founder of Aether Industries, he has established his company as a leading name in chemical manufacturing. His achievements reflect the incredible possibilities that come with hard work and vision.

Background

Ashwin Desai was born into a modest family, growing up with limited resources. Despite facing numerous challenges in his early years, he harboured a strong ambition to achieve something significant. In 1976, he teamed up with his brother-in-law to launch a chemical business. Their journey was far from easy; while living in a one-room apartment in Surat, they rented a small farm on the outskirts of the city to begin manufacturing sulfuryl chloride, a hazardous chemical that was previously imported into India. Determined to produce it locally, Desai and his partner gradually built momentum in their business.

Aether Industries 

In 2013, Ashwin Desai founded Aether Industries, focusing on the production of specialty chemicals. Today, the company delivers high-quality chemicals to various sectors, including agrochemicals, pharmaceuticals, and oil and gas. Headquartered in Gujarat, Aether operates two major production facilities. In June 2022, Ashwin took the company public, garnering a positive response in the stock market. The IPO raised $10.3 million, and the company's shares debuted at a 10% premium. This successful listing propelled Ashwin Desai into billionaire status.

Richest people of Surat

After Ashwin Desai, the richest man in Surat, the spotlight shifts to Faruk G Patel, whose impressive net worth amounts to Rs 9,700 crore. As the owner of KP Group, Patel has made significant strides in the green energy.

Next in line is Neeraj Choksi, the founder of NJ Group of Companies, who ranks as the third richest person in Surat with assets totalling Rs 9,600 crore. Under Choksi’s leadership, NJ Group has flourished, establishing itself as a key player in financial services and investment management. His strategic vision and business acumen have contributed to his impressive wealth.

In fourth place is Babubhai Lakhani, owner of Kiran Gems, with assets worth Rs 7,400 crore. Lakhani has built Kiran Gems into one of the largest manufacturers of diamond-studded jewellery in India, gaining recognition both domestically and internationally. His entrepreneurial spirit and dedication to quality have played a pivotal role in the company’s success.