Ambani Final

7/31/2019 Ambani Final

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D.O.B.-28.12.1932

He born at Chorwad, of Gujurat

Father - -aschool teacher

Mother-

Two brothers and two sisters.


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CHILDHOOD

Extremely demanding child.

As he grew up, he became even more vigorous, and irrepressible.

Possessed enormous energy.

Always determined to do what he wanted to do, in exactly the way he wanted it

done, come hell or high water, as the phrase goes.

EDUCATION

After he completed his primary education, at the village school, he was sentto the Junagarh Dist. for further studies.

Quite popular in his school and well- known for his brilliance and hard-work.

Elected general secretary of the Junagarh Students Union.

Dhirubhai was pleased and was invited to join the Socialist Party but he hadother things in mind.


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Starts earning from age 16

After his annual matriculation examination, on the request of hisfather he had to move to Aden, Yemen to support his family.

Started worked with A. Besse & Co. as a dispatch clerk for a salaryof Rs.300, immediately on reaching Aden.

A. Besse & Co.-- largest transcontinental trading firm east of Suez,engaged in almost every branch of trading business-cargo booking,

handling, shipping, forwarding, and wholesale merchandising.

Dhirubhai -first sent to the commodities trading section & later,transferred to the section that handled petroleum products for theoil giant Shell.

quick on the uptake; learnt the ways of commodity trading.


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1950s In the 1950s, the Yemini administration realized that their main

unit of currency, the Rial, was disappearing fast. Rials, pure silver coins and was in much demand at the London

Bullion Exchange. Young Dhirubhai bought the Rials, meltedthem into pure silver and sold it to the bullion traders inLondon.

Started understanding the bazaars of Aden where many traders,

buy & Sell goods worth millions of pound. Temptation towards speculation- started trading in small

things- Learnt the basics. Read newspapers, magazines, book, etc.relating to business,

history, and psychology. He did not have enough money of his own for such speculative

trading. So he borrowed as much as he could from friends andsmall Aden shopkeepers on terms nobody had ever offeredthem. "Profit we share and all loss will be mine" became hismotto. During lunch break and after office hours he was alwaysin the local bazaar, trading in one thing or the other


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. "I think I had an animal instinct about such trading but there was a lot

of reading and understanding of market trends behind that animal

instinct of mine. I read every bit of paper I could lay my hands on about

what was happening around the world, I listened carefully to every

word uttered in the market, picked every bit of gossip in the shipping

circles and pondered long through the night in the bed about the prosand cons of every deal I wanted to make."


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Refinery Experience & Vision

1954-Ambanis marriage and 1st oil refinery and harborcame up in Aden. Promotion to Ambani.

Now he was sent on promotion to the oil filling station atthe newly built harbour.

He liked the new job to service the ships bunkering fordiesel and lubricants.

He enjoyed visiting the ships, making friends with sailorsand the engine staff I heard from them first handaccounts of their voyages in different parts of the world

of which he had until then read about only in books andmagazines.

HERE HE FIRST BEGAN DREAMING OF

BUILDING A REFINERY OF HIS OWN.


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Dhirubhai recalled at the time Reliance's 25million ton oil refinery (the

largest grassroots refinery in the world)

"It was a crazy idea for a petrol pump attendant to want to build a

refinery of his own, but that is the sort of crazy ideas I have been

playing with all my life,",, went on stream in Jamnagar in 1999. "I have

been able to build this refinery because I decided long years ago not to

settle for anything else," he said, "I had heard a Yemeni proverb in

Aden "la budd min Sana'a wa lau taal al-safr" (You must visit Sana'a,however long the journey takes). I never forgot that saying."


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BACK to INDIA from Aden(1949-1958)

By the late 1950s it became clear that the British rule in Adenwould not last long in the face of growing Yemeni movement forindependence supported by Gamal Abdel Nasser's revolutionarygovernment from across the Suez.

The large Indian community of Hindu and Parsee Gujaratis began

preparing to move out of Aden. Some began returning home toIndia, while some chose to settle in Britain.

After Aden Where to migrate ?

Dhirubhais Friend Approach was to Settle him in Londonconsidering his talent.

But he found better opportunity in india for growing since countrywas in the midst of implementing the second five-year Plan

So he came back to india in 1958


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Started Bijiness

Dhirubhai Ambani started "Majin" in partnership with ChampaklalDamani, his second cousin, who used to be with him in Aden,Yemen.

Majin was to import polyester yarn and export spices to Yemen.

The first office of the Reliance Commercial Corporation was set up

at the Narsinatha Street in Masjid Bunder. It was 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.

In 1965, Champaklal Damani and Dhirubhai Ambani ended theirpartnership and Dhirubhai started on his own.

Dhirubhai was a known risk taker and he believed in buildinginventories, anticipating a price rise, and making profits.
http://en.wikipedia.org/wiki/Adenhttp://en.wikipedia.org/wiki/Yemenhttp://en.wikipedia.org/wiki/Adenhttp://en.wikipedia.org/wiki/Yemenhttp://en.wikipedia.org/wiki/Masjid_Bunderhttp://en.wikipedia.org/wiki/Masjid_Bunderhttp://en.wikipedia.org/wiki/Masjid_Bunderhttp://en.wikipedia.org/wiki/Masjid_Bunderhttp://en.wikipedia.org/wiki/Yemenhttp://en.wikipedia.org/wiki/Aden


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Reliance Textiles

Dhirubhai Ambani along with Amit Mehra, a Chartered Accountant andCompany Secretary started the first textile mill under brand Vimal atNaroda, in Ahmedabad in the year 1966.

Extensive marketing of the brand "Vimal" in the interiors of India madeit a household name.

Franchise retail outlets were started and they used to sell "only Vimal"brand of textiles.

In the year 1975, a Technical team from the World Bank visited theReliance Textiles' Manufacturing unit. This unit has the rare distinction

of being certified as "excellent even by developed country standards"during that period.


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Initial Public Offering

Dhirubhai Ambani is awarded with starting the

equity cult in India.

More than 58,000 investors from various parts of

India subscribed to Reliance's IPO in 1977.

Dhirubhai was able to convince large number of

small investors from rural Gujarat that being

shareholders of his company would be profitable.

Annual General Meetings were held in stadiums.


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Criticism

Despite his almost Midas Touch, Ambani has been known tohave flexible values and an unethical streak running throughhim.

His biographer himself has cited some instances of his

unethical behavior when he was just an ordinary employeeat a petrol pump in Dubai.

He has been accused of havingmanipulated governmentpolicies to suit his own needs, and has been known to be aking-maker in government elections.

Although most media sources tend to speak out aboutbusiness-politics nexus, the Ambani house has always enjoyedmore protection and shelter from the media storms thatsweep across the country.


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Tussle with Nusli Wadia

Nusli Wadia of Bombay Dyeing was, at one point in time, thebiggest competitor of Dhirubhai and Reliance Industries.

Both Nusli Wadia and Dhirubhai were known for their influence inthe political circles and their ability to get the most difficult licensesapproved during the times of pre-liberalized economy.

During the Janata Party rule between 1977 - 1979, Nusli Wadiaobtained the permission to build a 60,000 tonnes per annum DMT(Dimethyl terephthalate) plant.

But before the letter of intent was converted into a licence, manyhurdles came in the way.

Finally, in 1981, Nusli Wadia was granted the license for the plant.This incident acted as a catalyst between the two parties and thecompetition took an ugly turn.
http://en.wikipedia.org/wiki/Nusli_Wadiahttp://en.wikipedia.org/wiki/Nusli_Wadiahttp://en.wikipedia.org/wiki/Nusli_Wadiahttp://en.wikipedia.org/wiki/Nusli_Wadia


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The Indian Express Articles

At one point in time, Ramnath Goenka was a friend ofDhirubhai Ambani. Ramnath Goenka was alsoconsidered to be close to Nusli Wadia. On manyoccasions, Ramnath Goenka tried to intervene

between the two warring factions and bring an end tothe enmity. Goenka and Ambani became rivals mainlybecause Ambani's corrupt business practices and hisillegal actions that lead to Goenka not getting a fairshare in the company. Later on, Ramnath Goenka

chose to support Nusli Wadia. At one point of time,Ramnath Goenka is believed to have said "Nusli is anEnglishman. He cannot handle Ambani. I am a bania. Iknow how to finish him"....[
http://en.wikipedia.org/wiki/Indian_Expresshttp://en.wikipedia.org/wiki/Ramnath_Goenkahttp://en.wikipedia.org/wiki/Nusli_Wadiahttp://en.wikipedia.org/wiki/Nusli_Wadiahttp://en.wikipedia.org/wiki/Nusli_Wadiahttp://en.wikipedia.org/wiki/Nusli_Wadiahttp://en.wikipedia.org/wiki/Nusli_Wadiahttp://en.wikipedia.org/wiki/Ramnath_Goenkahttp://en.wikipedia.org/wiki/Ramnath_Goenkahttp://en.wikipedia.org/wiki/Ramnath_Goenkahttp://en.wikipedia.org/wiki/Indian_Express


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DHIRUBHAISM

No 1: Roll up your sleeves and help.

No 2: Be a safety net for your team

No 3: The silent benefactor

No 4: Dream big, but dream with your eyes open

No.5: Leave the professional alone! No.6 : Change your orbit, constantly! No.7 : The arm-around-the- shoulder leader

No.8 : The Dhirubhai theory of Supply creating Demand No.9 : Money is not a product by itself, it is a by-product,

so don't chase it


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Movie based on Dhirubhai Ambani


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Ambani Final

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