Dhirubhai Ambani was a successful Indian business tycoon who founded Reliance Industries. Ambani took Reliance public in 1977 and was worth USD 25. 6 billion upon his death. In 2016, he was honoured posthumously with the Padma Vibhushan, India’s second-highest civilian honour.
About Dhirubhai Ambani in brief
Dhirubhai Ambani was a successful Indian business tycoon who founded Reliance Industries. Ambani took Reliance public in 1977 and was worth USD 25. 6 billion upon his death. In 2016, he was honoured posthumously with the Padma Vibhushan, India’s second-highest civilian honour for his contributions to trade and industry. He was one of the sons of Hirachand Gordhanbhai Ambani, a village school teacher belonging to the Modh Baniya community and Jamnaben Ambani and was born in Chorwad, Junagadh district, Gujarat on 28 December 1932. He did his studies from Bahadur Kanji school. In his youth, he joined the protests against the Nawab of Junagarh and organized many actions against theawab’s plans to join Pakistan after independence. In 1948, he left for the Port of Aden, Yemen to work for A.
Besse and Co. along with his brother Ramnikbhai. He later came to sell shell and Burmah oil products for the company. He left Aden in 1958 to try his hand at his own business in India in the textiles market. In 1966 he formed Reliance Commercial Corporation which later became Reliance industries on 08 May 1973. He launched the brand ‘Vimal’ during this time which sold polyester materials for saris, shawls, suits and dresses. Extensive marketing of the brand in the interiors of India made it a household name. In 1988, Reliance came up against a rights issue regarding partly convertible debentures. Sensing an opportunity, a group of stock brokers from Calcutta, started to short sell the shares of Reliance.
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