Dhirubhani Ambani

Dhirubhai Ambani
Born December 28, 1932 Chorwad, Gujarat, British India
Died July 6, 2002 (aged 69) Mumbai, Maharashtra, India
Occupation Industrialist/Entrepreneur
Net worth ▲ US$6.10 Billion
Religious beliefs Hindu
Spouse(s) Kokilaben Ambani
Children Mukesh Ambani Anil Ambani Nina Kothari Deepti Salgaonkar

Famous quotes

From beginning Dhirubhai was seen in high-regard. His success in the petro-chemical business and his story of rags to riches made him a cult figure in the minds of Indian people. As a quality of business leader he was also a motivator. He gave few public speeches but the words he spoke are still remembered for their value. " With the force of 3 * "Give the youth a proper environment. Motivate them. Extend them the support they need. Each one of them has infinite source of energy. They will deliver."

• "Between my past, the present and the future, there is one common factor: Relationship and Trust. This is the foundation of our growth"
• "We bet on people."
• "Meeting the deadlines is not good enough, beating the deadlines is my expectation."
• "Don't give up, courage is my conviction."
• "We cannot change our Rulers, but we can change the way they Rule Us."
• "Dhirubhai will go one day. But Reliance's employees and shareholders will keep it afloat. Reliance is now a concept in which the Ambanis have become irrelevant."

Bibliography

• Yogesh Chabria. Invest The Happionaire Way (CNBC, 2008).

Initial public offering

Dhirubhai Ambani is credited 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.

Reliance Industries was the first private sector company whose Annual General Meetings were held in stadiums. In 1986, The Annual General Meeting of Reliance Industries was held in Cross Maidan, Mumbai and was attended by more than 35,000 shareholders and the Reliance family.

Dhirubhai managed to convince a large number of first-time retail investors to invest in Reliance. Ambani's net worth was estimated at about Rs.1 billion by early 1980s.

His successful business secrects

1: Gather information, whatever it may be. Gather information about Governments be local, state, central or international. Gather information about products, companies, consumers, markets, people, services, politics any thing, just anything and everything. Do not forget to get information of your competitors. Dhirubhai Ambani had mastered this secret. It was in his practice to gather information about anything and every thing

2: Find an opportunity. He always endeavour to analyze whatever information gathered. He did that in a way that convert information into an opportunity, a profit making opportunity. According to him, " There is no invitation for making profit". You have to find it. He always searched for news and information, a news or information that can make him profit.

3: Complete projects on time. Thrive to do it before the scheduled time. He and his sons completed all their projects on time, mostly before time. However big the projects were, they completed those timely. No matter how much disturbance or hurdles came in their way.

4: Think big. Think global. He thought global much before the globalisation took place.Most of the Indian companies were not doing well in the global scenario at his time. Most of the Indian companies were not acting with global standards. He made world class projects and world class factories. No body in India could even think about that in his time.

5:Hire the best people. Pay them well. Dhirubhai Ambani was able to employ the best people, top ranking masters of their respective fields. He was the best pay master of his time. He never compromised in Quality and timeliness. Only those top ranking masters could make it possible. Human resource is the best resource, according to him.

For Case studies : www.icmrindia.org/free resources/case studies/Dhirubhai Ambani and Reliance16.htm