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DHIRUBHAI AMBANI
Date of Birth 28-12-1932
Nationality Indian
Sunsign Capricorn
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Dhirajlal Hirachand Ambani( 28 December 1932 – 6 July 2002) was an Indian business  who founded Reliance Industries in Mumbai with his cousin. Ambani took his company public in 1977.

Dhirubhai has been among the select few to be figured in the Sunday Times list of top 50 businessmen in Asia.His life has often been referred to as a true "rags to riches" story.
Dhirubhai started off as a owner with Arab merchants in the 1950s and moved to Mumbai in 1958 to start his own business in spices. After making modest profits, he moved into textiles and opened his mill near Ahmedabad.

He founded Reliance Industries in 1966, and today, the company, with over 85,000 employees, provides almost 5% of the Central Government's total tax revenue.

Majin Commercial Corporation:-

 

In 1900, Dhirubhai Ambani returned from Yemen to India and started "Majin" in partnership with Champaklal Damani, 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 a 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.

During this period, Dhirubhai and his family used to stay in a one-bedroom apartment at the Jai Hind Estate in Bhuleshwar, Mumbai. In 1965, Champaklal Damani and Dhirubhai Ambani ended their partnership and Dhirubhai started on his own. It is believed that both had different temperaments and a different take on how to conduct business. While Damani was a cautious trader and did not believe in building yarn inventories, Dhirubhai was a known risk-taker and believed in building inventories, anticipating a price rise, and making profits.

 

Reliance Textiles:-

Sensing a good opportunity in the textile business, Dhirubhai Ambani, along with Amit Mehra, a Delhi-based chartered accountant and company secretary residing in Ashok Vihar, Delhi, started the first textile mill at Naroda, in Ahmedabad in the year 1966. Textiles were manufactured using polyester fiber yarn. Dhirubai started the brand "Vimal", which was named after his elder brother Ramaniklal Ambani's son, Vimal Ambani. Extensive marketing of the brand "Vimal" in the interiors of India madhe Reliance Textiles' Manufacturing unit, certifying it as "excellent even by developed country standards" during that period. Amit Mehra had played a pivotal role in helping and supporting Dhirubhai in this success.

Dhirubhai's control over stock exchange:-

In 1982, Reliance Industries came up against a rights issue regarding partly convertible debentures.It was rumored that the company was making all efforts to ensure that their stock prices did not slide an inch. Sensing an opportunity, The Bear Cartel, a group of stock brokers from Calcutta, started to short sell the shares of Reliance. To counter this, a group of stock brokers until recently referred to as "Friends of Reliance" started to buy the short sold shares of Reliance Industries on the Bombay Stock Exchange

 

To find a solution to this situation, the Bombay Stock Exchange was closed for three business days. Authorities from the Bombay Stock Exchange (BSE) intervened in the matter and brought down the "Unbadla" rate to  2 with a stipulation that the Bear Cartel had to deliver the shares within the next few days. The Bear Cartel bought shares of Reliance from the market at higher price levels and it was also learnt that Dhirubhai Ambani himself supplied those shares to the Bear Cartel and earned a healthy profit out of The Bear Cartel's adventure.

After this incident, many questions were raised by his detractors and the press. Not many people were able to understand as to how a yarn trader until a few years ago was able to get in such a huge amount of cash flow during a crisis period. The answer to this was provided by the then finance minister, Pranab Mukherjee in the Parliament. He informed the house that a Non-Resident Indian had invested up to  220 million in Reliance during 1982-83. These investments were routed through many companies like Crocodile, Lota and Fiasco. These companies were primarily registered in Isle of Man. The interesting factor was that all the promoters or owners of these companies had a common surname Shah. An investigation by the Reserve Bank of India in the incident did not find any unethical or illegal acts or transactions committed by Reliance or its promoters.

Death:-

Final Journey:- Dhirubhai Ambani's funeral saw thousands of people attending. Mukesh Ambani and Anil Ambani can be seen carrying their father's body as per Hindu traditions

Dhirubhai Ambani was admitted to the Breach Candy Hospital in Mumbai on June 24, 2002 after he suffered a major stroke. This was his second stroke. The first one had occurred in February 1986 and had kept his right hand paralyzed. He was, latterly, in a state of coma for more than a week. A number of doctors were used. He died on July 6, 2002.

The country has lost iconic proof of what an ordinary Indian fired by the spirit of enterprise and driven by determination can achieve in his own lifetime.

— Atal Bihari Vajpayee, Former Prime Minister of India

 

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