#5 Herlekar’s 100 crore Venture

A student of Chemical Engineering at IIT-Bombay, in 1972, entrepreneurship was not even an option for Pravin Herlekar. During his internship with Excel Industries in Mumbai, a meeting with KC Shroff, the then MD of the company changed his mind-set.

Shroff suggested Herlekar to start his own unique venture and thus Herlekar put together a seed capital of 1 lakh from his Provident Fund savings and set up Omakr Speciality chemicals. Herlekar took a break for a year until Cipla geared up to launch an anti-asthmatic product; Asthalin inhaler for which an imported product, selenium dioxide was required.

He got revenue of around 1 lakh in the first year, but for a couple of years, Herlekar had to run the show on wafer-thin earnings, which is quite sufficient to sustain daily operations. As of now, he runs a multi-product and multi-location company, which involves in the production of specialty chemicals and pharma intermediates as well as caters to domestic and global markets.

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