Dhirubhai Ambani

The real and full name of Dhirubhai Ambani is Dhirajlal Hirachand Ambani. He was famously called Dhirubhai Ambani after his successful venture into the markets.

 Dhirajlal Hirachand Ambani (28 December 1932 – 6 July 2002) was an Indian businessman who founded Reliance Industries in 1958. Ambani took Reliance public in 1977. In 2016, he was honoured posthumously with the Padma Vibhushan, India's second-highest civilian honour for his contributions to trade and industry.

A man with humble beginnings, took the world by storm with his intelligent and innovative minds. He visualised the growth of Reliance as an integral part of his grand vision for India. He was convinced that India could become an economic superpower within a short period of time and wanted Reliance to play an important role in realising this goal. Today, the Group's turnover represents nearly 3 percent of India's GDP.

Dhirubhai Ambani was one of the sons of Hirachand Gordhanbhai Ambani, a village school teacher belonging to the Modh vaniya (Baniya) community and Jamnaben Ambani and was born in Chorwad, Malia Taluka, Junagadh district, Gujarat[11] on 28 December 1932.[12] He did his studies from Bahadur Khanji school. He left Aden in 1958 to try his hand at his own business in India in the textiles market. It is also said that he has worked at Petrol pump as a petrol vendor. Ambani returned to India and started "Majin" in partnership with Champaklal Damani, his second cousin,[14] who lived with him in Yemen. Majin was to import polyester yarn and export spices to Yemen.[15]

The first office of the Reliance Commercial Corporation was set up at the Narsinatha Street in Masjid Bunder.[16] It was a 350 sq ft (33 m2) room with a telephone, one table and three chairs. Initially, they had two assistants to help them with their business.

During this period, Ambani and his family stayed in a two-bedroom apartment at the Jai Hind Estate in Bhuleshwar, Mumbai.[15] In 1965, Champaklal Damani and Dhirubhai Ambani ended their partnership and Ambani started on his own. It is believed that both had different temperaments and different takes on how to conduct business

In 1977 Ambani took Reliance public after nationalized banks refused to finance him. His agility in navigating a stodgy economy and crippling government regulations and bureaucracy led to allegations of political manipulation, corruption, and engineered raids on competitors, but investor confidence in Reliance remained unshaken—owing in part to the handsome dividends the company offered, as well as the founder’s charisma and vision. Ambani was credited with introducing the stock market to the average investor in India, and thousands attended the Reliance annual general meetings, which were sometimes held in a sports stadium, with many more watching on television.

In 1988, Reliance Industries came up against a rights issue regarding partly convertible debentures. It was rumored that the company was making all efforts to ensure that their stock prices did not slide an inch. Sensing an opportunity, The Bear Cartel, a group of stock brokers from Calcutta, started to short sell the shares of Reliance. To counter this, a group of stock brokers until recently referred to as "Friends of Reliance" started to buy the short-sold shares of Reliance Industries on the Bombay Stock Exchange

Following his first stroke in 1986, Ambani handed over control of Reliance to his sons, Mukesh and Anil. In November 2004, Mukesh in an interview admitted to having differences with Anil over ownership issues.[26] He also said that the differences "are in the private domain".[27] After the death of Dhirubhai Ambani, the group was split into Reliance Industries Limited headed by Mukesh, and Reliance Anil Dhirubhai Ambani Group headed by Anil. So finally Mukesh Ambani was elected as the CEO and Anil Ambani was elected as the chairperson.

As of 2017, the company had more than 250,000 employees. In 2012, Reliance Industries was one of the two Indian companies to be ranked among the top 100 in the Fortune 500 list of the world's largest companies by revenue.

Bibliography

www.wikipedia.com

www.google.com

www.brittanica.com