Veeru bhai ambani biography definition wikipedia

Ambani took Reliance public in Dhirubhai Ambani was one of the sons of Hirachand Gordhanbhai Ambani, a village school teacher belonging to the Modh vaniya Baniya community and Jamnaben Ambani and was born in Chorwad, Malia Taluka, Junagadh district , Gujarat [ 11 ] on 28 December He returned from Aden in to try his hand at his own business in India in the textile market.

It is also said that he has worked at a gas station as a petrol vendor. Ambani returned to India and started "Majin" in partnership with Champaklal Damani, his second cousin, [ 14 ] who lived with him in Yemen.

Dhirubhai ambani children

Majin was to import polyester yarn and export spices to Yemen. Initially, they had two assistants to help them with their business. During this period, Ambani and his family stayed in a two-bedroom apartment at the Jai Hind Estate in Bhuleshwar , Mumbai. It is believed that both had different temperaments and different takes on how to conduct business.

Dhirubhai ambani struggle story

In , Reliance Industries came up against a rights issue regarding partly convertible debentures. 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. 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 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.