January 10, 1961 |
Sardarshahar, Rajasthan, India
|Alma mater||St. Xavier's College, Kolkata
(University of Calcutta)
|Occupation||Chairman & CEO of Enso Group|
Vinay Maloo (born 10 January 1961) is the founder and chairman of Enso Group. Maloo had jointly founded Himachal Futuristic Communications Limited in 1987, and exited in 2005. Thus, sprung up Enso, a natural resources global conglomerate that is into energy and mineral exploration and exploitation, the upstream side of the mining and O&G industry. He was ranked the 9th richest Indian by Business Standard magazine in the year 2000.
He graduated from St. Xavier's College, Kolkata, with honors in 1982 with a Bachelor of Commerce degree after which he went on to pursue Chartered Accountancy which he left midway to become an entreupreneur. He started his career with selling metallic scrap, moved on to a marble mines in the desert state of Rajasthan, and it was much later that he entered telecom and natural resources industries and acquired fame.
Maloo is mentioned in Who wants to be a Billionaire?, a biography of James Packer by Paul Barry, where he was described as "an accountancy drop-out turned entrepreneurial whizkid". Kerry Packer, known for starting one day cricket, and Maloo had set up a private equity fund which invested in Media, IT and other ventures in India in 2001.
In his spare time, Maloo is fond of reading and practices yoga for an hour every morning. He is a vegetarian by diet. He shies away from media and prefers to keep his life as private as possible.
Vinay Maloo began his career with scrap trading and then marble mining in Rajasthan. Soon after that he got together with uncle Mahendra Nahata and Dr.Deepak Malhotra to start the telecom company HFCL.
Maloo founded Himachal Futuristic Communications Limited (HFCL) in 1987, along with uncle Mahendra Nahata. At HFCL, new technologies were introduced in the Indian market and they pioneered the telecom sector in India for a long time. Their $25 billion (INR 85,000 Crores) bid for basic services license in India created shock-waves after once they were allotted the largest number of circles. The Indian Parliament had reached status quo for few days during debates regarding this issue when they moved the PMO for changes in the allotment, requesting only few lucrative states and lowering of license concession fee. HFCL's foray in acquiring a basic service project in Punjab has been developed into a model project. During the technology boom in India, HFCL peaked at a $3.5 billion market capitalization and was the only private sector telecom company. The company was alleged in a stock market controversy in 2001 but was given a clean chit by SEBI and it was found that there was in fact short selling of their stock causing turbulence and they were falsely accused.
They invested in Amitabh Bachchan Corporation Ltd. to set a footprint in the emerging media and entertainment industry in the year 2000 and hold close to 30% stake in the company. HFCL 9 Gold was another venture in this segment which started in 2000 in partnership with Channel 9 of Australia, which belonged to the late Kerry Packer.
Enso Group of Companies
Enso Group is a multi-billion dollar group of MNCs Maloo is the founding chairman of Enso. It is a privately held diversified conglomerate, which began operations as recently as 2005. Enso started by venturing into the oil & gas sector. It had acquired oil & gas blocks in Africa, Australia and Middle East and is aggressively pursuing acquisitions and expansion. Enso also joined hands with IL&FS group to develop Gurgaon metro-rail, a mega project undertaken to develop the northern corridor of India. Enso also has investments in a few mid-cap security & surveillance, oilfield services, IT and infrastructure companies in India.
Enso is expanding horizontally with recent acquisitions of mining opportunities of precious metals, ferrous and non-ferrous metals and diamonds in Africa. They are in the process of acquiring a technology which could be a game changer in the energy sector, solidifying natural gas to liquid state and storable over infinite time. The group is also into CCTV surveillance, banking & retail automation, oilfield services, real estate, consultancy as well as solar energy. Solar energy is their green initiative. They are also in talks for setting up wind farms in Asia.
The group is also one of major shareholders of DC Designs, an Indian automotive designs company which is coming up with a manufacturing facility in Gujarat.
- Oil & Gas
- Oil & Gas Service(s)
- Natural Resource(s) Consultancy
- Financial Advisory
- Security & Surveillance
- Private Equity
- Technology/Automation Product(s)
- Solar Energy
Enso Foundation is a non-profit charitable foundation of Enso Group which works on various charitable causes.
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- Posted: Thursday, Nov 28, 2002 at 0000 hrs IST (2002-11-28). "Sebi Nails Ranbaxy; Lets Off HFCL, Essel Group & Satyam In Stock Scam". Financialexpress.com. Retrieved 2012-05-11.
- "Huge badla dealings by RIL arm". The Times Of India. 2002-04-12.
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- The Hindu (Chennai, India) http://hindu.com/businessline/2000/12/16/stories/021607sg.htm
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- "GE, Ensocare partner with Maharashtra Government for diagnostic facilities". The Times Of India. 2013-05-17.