Mumbai, December 28: The most enterprising Indian entrepreneur Dhirajlal Hirachand Ambani, also known as Dhirubhai today turned 76.
Dhirubhai Ambani was an Indian rags-to-riches business tycoon who founded Reliance Industries in Mumbai with his cousin. It was indeed his Ambitious nature, prevalent in most Capricorns, which made such a phenomenal rise possible.
Dhiru Bhai Ambani built India’s largest private sector company. Created an equity cult in the Indian capital market. Reliance is the first Indian company to feature in Forbes 500 list
His life journey is reminiscent of the rags to riches story. He is remembered as the one who rewrote Indian corporate history and built a truly global corporate group.
Assisted by his two sons, Mukesh and Anil, Dhiru Bhai Ambani built India’s largest private sector company, Reliance India Limited, from a scratch. Over time his business has diversified into a core specialisation in petrochemicals with additional interests in telecommunications, information technology, energy, power, retail, textiles, infrastructure services, capital markets, and logistics.
Dhirubhai Ambani is credited with shaping India’s equity culture, attracting millions of retail investors in a market till then dominated by financial institutions. Dhirubhai revolutionised capital markets. From nothing, he generated billions of rupees in wealth for those who put their trust in his companies. His efforts helped create an ‘equity cult’ in the Indian capital market. With innovative instruments like the convertible debenture, Reliance quickly became a favorite of the stock market in the 1980s.
Ambani took his company (Reliance) public in 1977, and by 2007 the combined fortune of the family (sons Anil & Mukesh) was 100 billion dollars, making the Ambanis one of the richest families in the world.
—Agencies