Dhirajlal Hirachand Ambani, better known as Dhirubhai Ambani, was born on December 28, 1932, in the Gujarati town of Chorwad.
His mother “Jamunaben” worked as a housekeeper, while his father “Hirachand Govardhandas Ambani” taught at a local school.
Dhirubhai Ambani had two sons, Ramanikbhai and Natubhai, and two daughters, Trilochanaben and Jasuben.
Dhirubhai’s father, a middle-class teacher and the family breadwinner struggled to manage and bear the expenditures of such a large family.
Dhirubhai’s mother borrowed money from neighbours when the family didn’t have enough money to cover their basic needs.
Dhirubhai attended a small rural school till the fifth grade. He was also transferred to Junagadh’s “Bahadur Khanji High School” to enhance his education.
Dhirubhai was a cheeky, lively, and fun-loving youngster who engaged in and excelled in co-curricular activities as a child. He was a bright, enthusiastic, and motivated young man with a strong “Get Things Done” mentality.
Dhirubhai was bad in academics and didn’t receive excellent results, not because he didn’t go to school, but because he didn’t like memorizing facts and rote learning.
Dhirubhai Ambani was the son of a teacher who worked at a small rural school. Despite his father’s academic aptitude, Dhirubhai only completed grade 10 before entering the industry.
It’s widely thought that his first paycheck was less than INR 300. As a 17-year-old, he travelled to Yemen to work with his brother Ramniklal. While residing in Yemen, Dhirubhai began working at a gas pump. However, he gradually worked his way up to the position of file manager. Dhirubhai subsequently returned to India and followed his business ambitions.
Dhirubhai Ambani began selling bhajia.
Dhirubhai’s mother requested him and Ramnikbhai (Dhirubhai’s elder brother) to earn money and assist the family due to the family’s financial situation.
At the age of 15, Dhirubhai began selling gramme flour fritters (bhajia) to pilgrims at Grinar Peak, as per his mother’s order. He also put up fry stalls at the village fair on weekends to help support the family’s income.
Dhirubhai was bad in academics and didn’t receive excellent results, not because he didn’t go to school, but because he didn’t like memorising facts and rote learning.
Dhirubhai Ambani began selling bhajia.
Dhirubhai’s mother requested him and Ramnikbhai (Dhirubhai’s elder brother) to earn money and assist the family due to the family’s financial situation.
At the age of 15, Dhirubhai began selling gramme flour fritters (bhajia) to pilgrims at Grinar Peak, as per his mother’s order. He also put up fry stalls at the village fair on weekends to help support the family’s income.
Matriculation has been completed.
Dhirubhai Ambani failed his matriculation (10th class) exams once in 1948.
Dhirubhai had to retake his matriculation test in 1949. He was, nevertheless, still heavily involved in electoral campaigns.
The family opposed his electoral participation and wanted him to concentrate on his schoolwork, but Dhirubhai vowed he would pass the exam this year.
Dhirubhai Ambani went to India in 1958 and started a textile company named “Majin” with his cousin Champaklal. This corporation was in charge of exporting items ranging from spices to textiles such as rayon to Yemen, as well as importing polyester. His initial office was at Masjid Bunder and was just 33 square metres in size. The partnership between Dhirubhai and his cousin ended in 1965 because they both had different ideas about how the firm should be operated.
Ambani was a savvy businessman who was prepared to take chances and understood the value of marketing. He recognised the need for stockpiling to produce revenue. With this information, he decided to establish Reliance Commercial Corporation, which is today known as Reliance Industries.
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In the 1960s, Dhirubhai Ambani founded “Reliance Commercial Corporation” with his second cousin Champaklal Damani, who resided in Yemen. Rs.15,000 was the first investment. The workplace was 500 square feet in size, with three employees, one telephone, one table, and three seats.
Reliance Commercial Corporation began as a spice exporter with headquarters at Narsinatha Street, Masjid Bunder. Dhirubhai went to the spice market in Bombay to get quotes for buying spices in bulk.
During that time, foreign exporters frequently complained about the lousy quality of supply from India. Dhirubhai viewed this as an opportunity and gave exporters the option of previous payment if the articles were of low quality.
Dhirubhai’s offer established his name among exporters, and the firm began to expand at an exponential rate. Soon after, he began working with exporters for whatever item they wanted from India.
Reliance launched its first initial public offering (IPO) in India.
Reliance Industries Ltd. pioneered the equity cult with its maiden IPO in India in 1977, raising Rs.2.82 billion.
Dhirubhai Ambani successfully persuaded middle-class investors that anyone participating in the company’s initial public offering (IPO) would receive a big return in the future.
What occurred next will astound you!
The Reliance IPO attracted 58,000 middle-class investors and was seven times oversubscribed.
Dhirubhai Ambani suffered a stroke for the second time on June 24, 2002, and was hospitalized at Breach Candy Hospital in Bombay.
Even after admittance, his condition deteriorated, and India lost its crown jewel, Dhirubhai Ambani, on July 6, 2002.
What happened to Reliance after Dhirubhai’s Death?
After Dhirubhai Ambani passed away in 2002, disputes started arising between the two brothers, Anil and Mukesh Ambani.
So, they split in December 2005, and Anil Ambani formed the “Reliance Group” while Mukesh Ambani continued expanding “Reliance Industries.”
At present, Reliance Industries is highly successful and has its wings in the following sectors:-
- Textiles
- Petrochemicals
- Telecoms
- Energy
- Electricity
- Retail
- Digital Services
- Logistics
- Industrial Infrastructure