Intex is a consumer durable company based in India and is the second-largest seller of mobile phones in the country. Narendra Bansal, the company’s founder, has recently ventured into the sports management industry and acquired the Gujarat Lions, a team in the Indian Premier League (IPL).
Intex Technologies is a prominent Indian company specializing in the manufacturing of mobile and electronic equipment. Its success can be attributed to the dedication of its founder, Narendra Bansal, who started the company with a modest investment of Rs 20,000. Presently, Intex Technologies, under Narendra Bansal’s leadership, has achieved a valuation exceeding Rs 6,500 crores.
Intex is a major player in the Indian consumer durable market and holds the position of being the second-largest seller of mobile phones in the country. Recently, Narendra Bansal, the founder of Intex, expanded the company’s ventures into the sports management industry. As part of this diversification, Intex has successfully acquired the Gujarat Lions, a team in the prestigious Indian Premier League (IPL).
Before amassing his multimillionaire wealth, not many may be aware that Narendra Bansal used to capture photographs of individuals at Delhi’s Birla Mandir. He would then sell those pictures by attaching them to keychains.
Narendra Bansal, born in 1963 in Hanumangarh, Rajasthan, completed his primary schooling in his village. Later, his family relocated to Nepal, where he pursued his secondary education at Vishwaniketan High School.
In 1980, the Bansal family moved back to Delhi, and Narendra Bansal successfully completed his bachelor’s degree in commerce from Swami Shraddhanand College, University of Delhi.
To support himself and his studies, Narendra Bansal resorted to selling audio-video cassettes. With a deep-rooted desire for entrepreneurship since childhood, he ventured into various business endeavors. One of his ventures included trading cordless phones in Naya Bazar, Chandni Chowk, Delhi.
From an early age, Narendra Bansal possessed a strong entrepreneurial spirit and aspired to establish his own business. During the boom of the IT industry in India, he found an opportunity and began selling computer floppy disks and accessories in Delhi’s Nehru Place market. This venture proved highly lucrative for him, prompting him to expand further. In 1992, he secured a small rented shop in Nehru Place and commenced assembling computers there. In September 1994, with a capital of Rs 20,000, he founded International Impex, operating from a basement in South Delhi.
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In the year 1996, Narendra Bansal established Intex Technologies. What set his products apart was their direct sourcing from manufacturers and wholesalers in China and Korea, making them more affordable compared to other companies. This strategic advantage enabled his company to achieve a profit of Rs 30 lakh in its inaugural year. Building on this success, Narendra Bansal expanded his product range to include speakers, home theaters, and DVD players.
In 1997, the company established its head office in Delhi. Following this, Intex Technologies began selling keyboards and web cameras in addition to its existing product line. Then, in 2005, Narendra Bansal took a significant step by setting up a manufacturing unit for the company within India itself.
When the mobile phone market in India gained momentum, Intex capitalized on the opportunity by launching affordable mobile phones. The company managed to offer phones with impressive features at a low budget, which resonated well with consumers. This success significantly boosted Intex’s reputation and made it a popular name among the masses. In 2012, the company expanded its product line to include LED TVs. During the same year, Keshav Bansal, Narendra Bansal’s son, focused on enhancing the company’s media branding. As a result, Intex rose to become the second-largest mobile manufacturing company in India, following Micromax.
Presently, Intex Technologies holds a valuation exceeding Rs 6,500 crore, showcasing its significant worth in the market. Alongside this remarkable achievement, Narendra Bansal’s personal net worth has surpassed a staggering Rs 800 crore, further highlighting his financial success.
Narendra Bansal has been married to Alpa Bansal since 1990, and they have two children together. Their son is named Keshav Bansal, and their daughter is named Ishita Bansal.