Active MembersTodayLast 7 Daysmore...
|
Resources » Articles/Knowledge Sharing » General
Biography : Dhirubhai Ambani, Founder of the Reliance group of Industries
This resource is a brief biography on the rags to riches life of Dhirubhai Ambani, his birth, childhood, struggling years, success and death. There is a detailed description of foundation and growing years of the multi-billion dollar Reliance Group built by Mr. Ambani.
|
Birth & childhood of Dhirajlal Hirachand Ambani
Born in 1932 in Chorwad village of Saurashtra, Gujarat to father Hirachand and mother Jamnaben, Dhirajlal Hirachand Ambani was popularly known as Dhirubhai Ambani. His father was a school teacher in the village. He had two sisters Trilochanaben & Jasuben and two brothers Ramnikbhai & Natubhai. In the childhood days, Dhirubhai Ambani used to sell snacks outside a temple. He wanted to study for a bachelor's degree but at a mere age of 17, when his father was extremely ill, went to Aden to seek livelihood for family.
Struggling years of Ambani
From a rural village in Western Gujarat, Ambani went to Aden, now part of Yemen, and started working as a petrol station attendant. He was only a teenager then. He took up a clerical job in A. Besse & Co. Ltd, the sole distributor of Shell products there at the time. It occurred to him one day that money could be made banking on discrepancy between value of silver in Aden' s coins and rial sterling exchange rate. He made around $3000 and returned to Mumbai in 1958 with a dream to start something of his own.
Foundation of Reliance Group by Dhirubhai Ambani
In 1958, Ambani started his first company, Reliance Commercial Corporation in the difficult times of 'license permit raj', when only rich industrialists with political connections controlled the businesses. Only these could import, export or manufacture licenses. However, Mr. Ambani, with his sharp negotiating skills and acumen turned the government rules & policies into his favor and started importing polyester yarn and exporting spices to foreign nations. In 1966, he set a textile mill in Naroda that manufactured cloth from polyester fibre. This cloth was of high quality and a team from the World Bank visited the mill and certified the same. Ambani wanted to expand his venture and sought tapping the Mumbai's Stock Exchange than negotiating with a bank for funds. Around 58000 investors bought the initial shares offered and Reliance went public in the year 1977.
Evolution & growing years of Reliance Group
Reliance changed the face of corporate financing system and became the biggest player in stock market with largest number of shareholders. In 1982, Mr. Ambani set up a unit to manufacture polyester filament yarn, starting a process backward integration which brought huge success. The group diversified into chemicals, petrochemicals, gas, plastics, power, telecommunications and the unconventional business methods & strategies seldom formed news. Dhirubhai Ambani built a business empire that in mere three decades outgrew century old empires like the Tatas & Birlas. Reliance made into the Fortune 500 list. Government's privatization policy played its role in the rising success as the multi-billion dollar Reliance Group also acquires the giant public sector Indian Petro-Chemicals. Mr. Ambani always said relationship & trust are the foundations of growth.
Death of Dhirubhai Ambani
Ambani suffered a stroke back in February,1986 and faced paralysis thereafter. On July 6, 2002, he died of a major stroke at the age of 69 in Breach Candy Hospital, Mumbai after around two weeks of stroke-induced coma and was cremated at the Chandanwadi Crematorium.He is survived by wife Kokilaben, daughters Nina Kothari, Deepti Salgaonkar and sons Anil Ambani & Mukesh Ambani.
|
Read related articles: Dhirubhai Ambani
Did you like this resource? Share it with your friends and show your love!
|
|
No responses found. Be the first to respond...
|
|
|