Analjit Singh: Inspirational success story of the founder of Max Group

Analjit singh success story: If someone does not get anything in inheritance, then someone gets a lot. It is not a matter of everyone’s ability to increase heritage and move towards success. But what Analjit Singh did became a story. Story for those who want to do something in life. Analjit Singh has done the work of raising the forehead of India not only in his company in the health sector. He set up a factory in India, which was first approved by the FDA of America. However, his business has changed from this factory to a big group today, which is known as Max Group.

Analjit Singh is the founder and chairman of the Max Group. It is a big Indian business group, which runs Antara Senior Care for the care of Life Insurance (Max Life), Real Estate (Max Estates) and the elderly. According to Forbes, Analjit’s net worth is $ 1.1 billion (9 thousand 624 crore in rupees). Analjit Singh has studied at Doon School and Sriram College of Commerce of Delhi University. He has done MBA from Boston University. Apart from this, Amity University has also given him the title of honorary doctorate.

Okhla Factory and FDA approval
Let’s return to the old factory in Okhla, Delhi. This factory was inherited by Analjeet, the youngest son of Bhai Mohan Singh, the founder of Ranbaxy. But luck soon turned. Everything was taken away from them within four years due to the sharing of the family.

But Analjeet was not among those who gave up. He decided to do something different. There was a dream in the mind that making something in India, which became an example in the world. He converted the same old factory into a unit that became the first factory in India to approve of the FDA of America. He started making raw materials of drugs like penicillin and partnership with pharma companies around the world.

Max India and Hachisan Asia
The foundation of Max India was laid in 1985. He joined hands with big foreign companies like Elph Atochem and Gist-brocads. Technology was also received and money too. But then in 1990, the Gulf War broke out. Demand for medicines fell, prices became unstable. Even Ranbaxy stopped the production. Analjeet was waiting for the right time.

In 1991, the doors of India’s economy opened to the world. The license secret is over. And got the biggest chance in the telecom sector. Analjeet, along with Hachisan Asia, launched the GSM Mobile Service named Hachisan Max in Mumbai.

In 1998, the story took a turn when he sold his 51 percent stake and Rs 561 crore came to him. Now he had capital, and the attitude was clear. In 2000, he stepped into Life Insurance – Max with New York Life. And in 2006, the first Max Super Specialty Hospital in Saket, Delhi also opened. Everything was growing rapidly, but then came the global economic recession of 2008. His 10 businesses stopped in this recession, but Analjeet did not give up here either.

Flags swinging in 2012
By 2012, Max New York Life buried the flag in the insurance market with 12 per cent market share. The hospital brand had also changed from Max Healthcare to Max Hospitals. But one thing Analjeet had understood well, and that was the structure. In 2012, he sold 26 per cent of New York Life to Mitsui Sumitomo for Rs 2,731 crore. Now it has become Axis Max Life Insurance.

In 2010, the company worth Rs 7,836 crore was increased to 24,134 crore by 2019. Till now more than 90 lakh customers had become. On 22 June 2019, the KKR -backed Radiant Life Care bought a 49.7 per cent stake and merged with Max Healthcare. The deal took place for Rs 2136 crore, and today Max Healthcare has become the largest private hospital chain in the country with more than 3,500 beds.

Today, the Max Group is a huge empire of Rs 30,000 crore. Three companies are publicly listed- Max India (Antara), Max Insurance, and Max Asset (Real Estate). The empire has more than 20 hospitals and more than 30,000 employees.