‘Lost my wife 50 days before IPO to cancer’: This story of Thyrocare founder A. Velumani will break your heart

A. Velumani, the visionary entrepreneur behind Thyrocare, achieved extraordinary success through unwavering dedication, frugality, and the steadfast support of his beloved wife. His remarkable journey from humble beginnings to building a billion-dollar company is a testament to his resilience and innovative spirit. In a recent podcast, the veteran entrepreneur bared his soul on how he started Thyrocare, and most importantly, the great relationship he shared with his late wife.

As he mentioned, in the early days of Thyrocare, Velumani made a bold decision to forgo a salary, opting instead to reinvest every penny back into the company. This decision wasn’t about deprivation but rather a strategic choice to ensure the company’s growth and sustainability. As he explains, “I did not take salary. Zero salary. Instead, whatever I earned, I gave back into the company.”

Velumani’s frugality extended beyond his own paycheck. He and his family lived modestly, with Velumani residing on the company premises to minimize expenses. Even as Thyrocare’s profits soared, he remained committed to a simple lifestyle, driving a modest car registered under the company’s name to save on taxes.

A Testament to Frugality

Velumani credits his mother’s frugality for his survival during the early years and acknowledges his wife’s role in the company’s success. “My first 24 years of survival was because of the frugality of my mother, and my business success is because of the frugality of my wife,” he reflects.

Despite achieving significant financial success, Velumani and his wife continued to prioritize frugality, demonstrating a deep-rooted commitment to responsible financial management.

The Path to Success

Thyrocare’s journey to success was marked by strategic decision-making and bold moves. Velumani’s decision to take the company public through an IPO was a pivotal moment in its growth trajectory. Despite initial apprehensions from his family, Velumani was determined to pursue it. The result was overwhelming success, with Thyrocare’s market valuation skyrocketing to over Rs 3,300 crore.

“That’s how the private equity guys were inside, and five years went through for the first guy. He wanted to go out, and he couldn’t find a party who was willing to purchase his stock at his dream price. So he came to me. He asked me, ‘Can we do an IPO?’ In the boardroom, I agreed. We can do an IPO without blinking and I agreed,” Velumani recalls.

However, Velumani’s triumph was bittersweet as he navigated personal tragedy. Just days before Thyrocare’s IPO, his wife was diagnosed with pancreatic cancer. Her unwavering support had been instrumental in his journey, and her absence during the IPO was deeply felt.

Love, Loss, and Legacy

Velumani’s love for his wife shines through the podcast as he shares their poignant love story and her pivotal role in his life and business. “I didn’t want to marry my wife. I was trying to delay, refuse, and then finally agree to marry. I left the job with the hope that she is working with the bank, but she got annoyed that I decided to leave the job without discussing with her,” he recounts.

Tragically, just days before Thyrocare’s IPO, Velumani’s world was shattered when his wife was diagnosed with pancreatic cancer. The devastating news cast a shadow over what should have been a moment of triumph. Despite her illness, Velumani’s wife remained his steadfast companion, offering love and support until her final days.

“I lost my wife 50 days before IPO. 50 days before IPO, February 12 I lost her. And in the month of May, IPO was there. 50 days before her death, we came to know that she had grade four pancreatic cancer,” Velumani says. 

Reflecting on the Journey

As Velumani reflects on his journey, he shares invaluable lessons for aspiring entrepreneurs. He emphasizes the importance of choosing a supportive life partner, maintaining a frugal mindset, and embracing calculated risks.

“I will emphasize a lot on the fact that a spouse’s support is very important in an entrepreneurial journey. If your spouse trusts you, your energy is 10x. If the spouse doubts you, the energy is 1x,” Velumani remarks.

Despite the challenges and setbacks he faced along the way, Velumani remains grateful for the love and support that propelled him forward. His story serves as a beacon of hope and inspiration for entrepreneurs worldwide, reminding us that with perseverance, dedication, and a supportive community, anything is possible.