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In building his industrial empire, Ambani shared Aditya Birla’s view that when buying machinery, it must be the latest and the best. Like them, he worked Bombay’s hot and teeming yarn markets, living off tea shop snacks and endlessly ubsiness paan.

But all the same we have a few drinks and come out as if nothing has happened. He could never accept the conditions under which B. As a school kid, Dhirubhai’s biggest mahxrajas had been to own a jeep.

He could have been talking about Reliance. Birla worked in Century Enka, a piramaal yarn maker and a joint venture between the Birlas and Holland’s Enka International.


If anybody says that Reliance benefited immensely from the High Unit Value Scheme, they are giving businwss credit at the expense of their ignorance. You could call them stubborn, even bullheaded, and once an idea has germinated in their mind, they won’t give it up easily. In Novemberas inDhirubhai had a hard me convincing people to trust him with their money. A few years ,aharajas, he had got a dull black Cadillac with dark tinted windows.

Inhe declared that Reliance, then a Rs 9bn company, would in ten years be a Rs 80bn company. If they say this, it will percolate.


As against the earlier practice of capitalizing interest on long term debt obtained for the purchase of fixed assets till the date of commissioning of the assets, Reliance capitalized interest for the entire contracted period of the debt. And the man is an unabashed go-getter. The former petrol pump attendant is inching his way to realizing his dream of building a company like Burmah Shell.


Like Rahul Bajaj, Ambani hasn’t taken partners because he could never play second fiddle. Usmc has ha haL'” In shaping Reliance into a colossus, the largely self-taught Dhirubhai used his own brand of earthy, practical, bah ia brain aided by an inexhaustible desire for information. The government’s licensing policy favoured the powerioom sector and large mill owners even Ambani, found it difficult to get sanctions for capacity expansion.

However, when the selection process was finally over, the winner was Reliance. How could he pack in so much in such a short time? And at the first turning point in each of their careers, a piece of luck has come their way. Dhirubhai was born on December 28, to Jamna and Hirachand d. Maharajad of creating a “safe” bsuiness based on reasonable projection of demand, Ambani applied for world scale capacity that could meet the cost and quality standards on a global basis,” says Sumantra Ghoshal, head of strategic planning at the London Business Ppiramal and author of a major case study oft Reliance.

We had the choice of two snacks or one drink and one snack.

Customers begin to question whether, in the future, they should continue to buy the company’s products. Oh, there’s a lot of hustle and bustle in Kabutarkhana. The piraml wouldn’t exchange his rupees and he lost the opportunity. Some dominate hita particular business, others control more than one industry.

Perhaps that’s why Dhirubhai named his company Reliance. The late Aditya Birla came from a family with as rich a political legacy as Rahul Bajaj.

Jaharajas see thi workers participating in the Ambani family’s happiness had multiplied Dhirubhai’s own happiness. And Dhirubhai likes to move fast. Ambani was always a panoramic thinker, and the PSF plant represented his incredible capacity to take risks. In India, technically managements cannot buy their own companies’ shares, so busijess brand new organization, the “Friends of Reliance Association’, emerged which boughtof the bears’ 1.


Later, Ambani would insist that he had had no choice busiess to defend the share price. And he bought himself not ajeep but a Mercedes. Why not on vert Reliance’s non-convertible debentures into shares? To make the Tata group globally competitive is one of the priorities Ratan Tata, the head of India’s biggest business house, has set for himself.

Why is it called Kabutarkhana? Sniffing out news of the imminent change, business moved at lightning speed. Singh’s decision until he reached Bombay.

Anyone can import an OGL item, but anything on the restricted list has first to get clearance from the director general of technical development. Gita Piramal has done a wonderful job in compiling a book of this kind that is also eminently readable. Yet, tangled in the disparities, are a few skeins which are common to each.

Business Maharajas – Gita Piramal – Google Books

A legion of critics accuse Ambani of leapfrogging the queue in obtaining licences, of getting faster-than-normal gpprovals for his public issues and capital goods imports, and of getting policies formulated favouring Reliance or disadvantaging its rivals or both. August of that year saw him on his feet at the EGM, the crowds cheering as speaker after speaker praised Reliance and its dynamic chairman.

Aware of this, bears cash in by selling short just before the issue— when prices are high-and deliver after the issue- when prices slump. They even controlled capacity expansion of private industrial establishments.