Rakesh Malhotra's Perfect Plan for a Low Priced UPS
Bangalore: His mother’s cry over the troubled inverter always haunted this engineering student; he would try and fix them up because machines always fascinated him. Rakesh Malhotra considered it to be his pass time and worked on such experiments out of his interest. In the early 80’s each inverter was priced a whooping 50,000 but the product itself did not serve any purpose.
With a seed capital of 40,000 funded by his father, leasing out a 600 square feet space in south Delhi and employing four men to run his small scale business which later turned out to be a leading company in its field. Rakesh managed to bring out the most compact UPS (Uninterrupted Power Supply) for just 15,000 and conquered the market. The UPS was priced less because all its spare parts were produced locally. He also had a clear plan, to manufacture the inverters in its best compact style. Generally inverters were tucked in or hid because it looked bulky and ugly. An uninterrupted power supply with a beautiful gadget that can decorate any place was the unique selling proposition for ‘Luminous’ technologies.
Nominally priced inverter and its design supported the business and made it explore all markets making it touch a magical figure of 1,200 crores annual turnover for a business that started with a seed capital of just 40,000, funded by a family member. Luminous technologies support various business and their projects. Rakesh Malhotra the head of this company can now proudly thank those inverters that annoyed his mother, which made him invent a fortune for himself.