INDIAN BUSINESS MIRROR

IIT ALUMNUS TRAMPLES GIANT TATA GROUP'S FOOTSTEPS, sells company for a staggering Rs 28,000 crore!

In an inspiring tale of entrepreneurial prowess, Bharat Desai, an IIT graduate from the esteemed Indian Institute of Technology (IIT) Bombay, has made history by selling his software company Syntel to French IT firm Atos SE for a whopping USD 3.4 billion (approximately Rs 28,690 crore).

Born in Kenya and raised in India, Desai's rags-to-riches story is a testament to the power of hard work, dedication, and determination. After completing his bachelor's degree in electrical engineering from IIT Bombay, Desai went on to earn an MBA in finance from the University of Michigan.

Desai's journey began as a programmer for Tata Group's TCS in 1976, but he soon moved to the United States to start fresh. It was there, in 1980, that he met his wife Neerja Sethi and formed Syntel with just Rs 16,000 in savings. Pooling their expertise, they launched a humble IT consulting and outsourcing company from their small apartment in Michigan.

Despite initial modest sales of USD 30,000 in the first year, Desai's vision and leadership propelled Syntel into the stratosphere, leading to Atos SE's acquisition of the company for Rs 28,690 crore in 2018.

As per Forbes World's Billionaires List 2024, IIT graduate Bharat Desai ranks 1945 with an estimated net worth of $1.6 billion (Rs 13,501 crore).

"A TURNING POINT IN THE STORY WAS WHEN MY WIFE AND ME POOLED OUR SAVINGS TO START SYNTEL FROM OUR APARTMENT. IT WAS A LITTLE RISK, BUT WE TAKEN IT, AND TODAY WE ARE PROUD TO SAY THAT WE CHANGED Our Lives BY BUILDING OUR COMPANY"

• Bharat Desai, CEO and Founder of Syntel

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