A shwin Desai is the founder and managing director of Aether Industries, a leading Indian manufacturer of specialty chemicals. He started his entrepreneurial journey in 1976 with a modest chemical trading business before establishing Aether Industries in 2013 to focus on advanced intermediates and specialty chemicals. The company supplies critical raw materials to the pharmaceutical, agrochemical, and oil and gas industries.
Based in Surat, Gujarat, Desai built the company into a technological powerhouse known for its complex chemistry capabilities. He successfully took Aether Industries public in 2022, a move that revealed the scale of his success and minted him as a billionaire. His story is often cited as a classic 'rags-to-riches' tale, rising from a one-room apartment to becoming one of the wealthiest individuals in his region.
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Ashwin Desai is a prominent Indian entrepreneur, the founder of Aether Industries, and the richest man in Surat, Gujarat. Born into a modest family, Desai’s early years were marked by limited resources, living in a cramped one-room home.
He earned a bachelor's degree in Chemical Engineering from the Institute of Chemical Technology (ICT) in Mumbai in 1974. Driven by a strong ambition, he teamed up with his brother-in-law in 1976 to launch a chemical business while still residing in their one-room apartment, renting a small farm to manufacture sulfuryl chloride locally.
Ashwin Desai’s professional career spans over four decades in the specialty chemical industry. Before founding Aether, he was a founding member of Anupam Rasayan India Limited and served as its Chairman and Managing Director until 2013.
In 2013, he established Aether Industries, focusing on innovative chemical engineering solutions, particularly continuous reaction and flow technology. Under his leadership, Aether went public in June 2022, raising $10.3 million in its IPO. This successful listing propelled Desai to billionaire status and solidified his company as a leading name in sectors like agrochemicals and pharmaceuticals.
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Graduated with a Chemical Engineering degree from ICT Mumbai.
Launched his first chemical venture with his brother-in-law.
Founded Aether Industries in Surat, Gujarat.
Took Aether Industries public, becoming a billionaire.
Continues to serve as Managing Director of Aether.
Ashwin Desai’s wealth is concentrated in his role as the Founding Promoter and Managing Director of Aether Industries.
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+0.34% | +$4.97M
+0.21% | +$16.04M
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