Jan 7, 2007

Dhirubhai Ambani

Dhirubhai Ambani of Reliance Industries

Late Pramod Mahajan, Information and Broadcasting Minister of India seen holding the Stamp.

Dec 28th, 1932 - July 6th, 2002

Dhirubhai achieved what almost everybody would consider impossible. In a life spanning 69 years, he built from scratch India’s largest privately controlled corporatation Reliance Industries Limited. A lot is written about this great guy.

In 1982, Dhirubhai created waves in the stock markets when he took on a Kolkata-based cartel of bear operators that had sought to hammer down the share price of Reliance Industries by selling them short. The cartel badly underestimated the Ambani's ability to fight back. Not only did Dhirubhai manage to ensure the purchase of close to a million shares that the bear cartel offloaded, he demanded physical delivery of shares. The bear cartel was rattled. In the process, the bourses were thrown into a state of turmoil and the Bombay Stock Exchange had to shut down for a couple of days before the crisis was resolved. The bears had to pay a fine of Rs. 2 per share in addition to providing stocks that had risen more that Rs. 45 during this time.

A new Bollywood film Guru is based on the Dhirubhai Ambani's life story.