Vinay Maloo

Vinay Maloo (born 10 January 1961) is an Indian businessman, who is the founder and chairman of Enso Group, a diversified conglomerate group. Maloo founded the group in 2005.
Education
Vinay Maloo completed his high school from National High School in Kolkata (then Calcutta). He is an alumnus of where he studied for his bachelor of commerce degree, and graduated with honours, in 1981. St.Xavier's is a part of University of Calcutta. He went onto pursue chartered accountancy from the Institute of Chartered Accountants of India (ICAI) but left it midway to start his own business.
Early career
Vinay Maloo started his business career with acquisition of a marble mine in Kankroli, Rajasthan. He left Kolkata for Delhi in 1990 to run Himachal Futuristic Communications Limited (HFCL) with his uncle Mahendra Nahata and Dr Deepak Malhotra, as they had set up their first telecom equipments manufacturing plant in Solan, Himachal Pradesh in 1988.
HFCL
When they co-founded HFCL in 1987, they were the first private sector company to enter telecom equipments manufacturing in India. In HFCL, they set up manufacturing facilities in India for optical fiber cables, optical transport, power electronics and broadband equipment for global supply, and provided turnkey solutions to the Government of India's undertakings and private sector players across the world. HFCL has an in-house R&D department, developing new technologies. Their $25 billion (850 billion) bid for basic services license in India created the momentum for telecom in the country. Late Australian businessman Kerry Packer, also known for his contribution to the sport of cricket, invested in HFCL, in 2000, picking up a 10% stake. Together, they also launched Metro Gold on the national television channel DD Metro.
During technology boom, HFCL peaked at an approximately $3.5 billion market cap making him one of the top 10 richest Indians at age 39. In 2005, the partners split, Nahata keeping the telecom business as Maloo wanted to expand into different sectors and be diversified. In 2006, he resigned from HFCL. He also resigned from all its subsidiary companies. He served as chairman and executive director during his tenure. which is privately held for most part. and have a gas block in Siberian region of Russia. The group sold its stake in Ensearch Petroleum, which had its holdings in 14 oil and gas blocks to Sahara India Pariwar in 2011. Ensearch had oil & gas E&P blocks in Australia, Georgia, Nigeria, Jordan and Gujarat in India.
A PPP initiative of Enso Healthcare LLP, and brand Enso Care, was launched with GE-Wipro and Government of Maharashtra and another one in Punjab with Philips but the group exited before rollout and curbed its healthcare expansion plans. Enso Healthcare LLP is acting as an aggregator for manufacturing of Sputnik V vaccines in India for Russia's sovereign wealth fund RDIF.
They also have interest in solar power innovation, having a modest portfolio of products and capacity to execute turnkey projects.
In early 2020, Enso Group along with Russian Far East Development Fund, tried to rescue the debt laden Jet Airways, and participated in talks for buying controlling stake in it from its committee of creditors (CoC) composed of banks, but talks fell through.
Personal life
Vinay Maloo is a Jain, vegetarian by birth. His father was a chartered accountant. He goes to the gym and practices yoga, meditation.
Awards and honours
*Asia's Most Trusted Leader 2021 - WCRC International
*Dynamic Personality Of The Year 2021 - Xel Research, Global Choice Awards

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