THE MAN WHO WOULD BE PRINCE: 'Dhirubhai will go one day.But Reliance's employees and shareholders will keep it afloat.Reliance is now a concept in which the Ambanis have becomeirrelevant,' said Dhirajlal Hirachand Ambani, arguably India'sgreatest entrepreneur ever, years before his death on July 6, 2002.His words have proved prophetic, as the Reliance juggernautkeeps rolling on towards excellence.Dhirubhai rose from humble beginnings to found India's largestindustrial empire and, in the process, became one of the world'srichest men. He transformed the way big business operates andthinks in India.His death marked the end of a golden era in Indianentrepreneurship, but his values continue to guide the Reliancegroup, now run by his two sons, Mukesh and Anil.HE CHANGED THE INDIAN STOCK MARKETS: Dhirubhaiwas praised for his key role in shaping India's stockmarket culture by attracting hordes of retail investors to amarket dominated by state-run financial institutions.The history of the Indian market, there are two distincteras -- 'Before Dhirubhai' and 'After Dhirubhai'. In the first,people invested in gold or land; the stock exchange wasan arena reserved for the rich.But that changed forever when Reliance went public in1977. Dhirubhai created a new class of Indians -- middle-class investors. Buying into the Ambani legend was one of the wisest decisions they ever made.
THE AMBANI MAGIC: Reliance Industries was listed in 1977 in one of the largest public stock offerings of its time and its annualshareholders' meetings were so well attended they had to be held in a football stadium.And Dhirubhai held his shareholders spellbound, paying high dividends and bonuses at a time when equities were seen as a low-return,risky investment.This made Dhirubhai Ambani a hero to shareholders. Original investors in the 1977 initial public offering have earned a compoundedannual rate of return of 43 per cent.
THE MASTER STRATEGIST: Dhirubhai's is not just the usual rags-to-richesstory. He will be remembered as the one who rewrote Indian corporatehistory and built a truly global corporate group.He was not a conformist, but those who chose to back Dhirbubhai's style of doing business came up trumps. For, the 'Dhirubhai school of management'firmly believed that the only thing which mattered at the end were resultsand the benefits which accrued directly to the shareholders. And that is whathe passed on to his two sons -- Mukesh (right), the current chairman of thegroup, and Anil, the vice chairman.His biggest success was his ability to carry people with him. From brillianttechnocrats to financial whiz kids and high flier managers to small timedealers and messenger boys.Assisted by his sons, Dhirubhai, unlike some of the other corporates of India, never had to face any internal revolt.EVER THE FAMILY MAN: The Reliance patriarch, although busyall through the day building India's largest private conglomerateand interacting with the crème de la crème of the world'spolitical, entrepreneurial and social superstars, always had timefor his family.He loved to play with his grandchildren, passing on qualities tothem that would mould their future.
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