After five years in Aden, in December 1957, Shri Dhirubhai Ambani returned to Mumbai, the business, the financial and commercial capital of India. In Mumbai, Shri Dhirubhai Ambani had his first office on the first floor at 240, Narsee Natha Street, Bhaath Bazaar (or Masjid Bunder, as it is also known).
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Wharton School, University of Pennsylvania, USA, conferred on Shri Dhirubhai Ambani the 24th Dean’s Medal in recognition of his leadership and extraordinary achievements. 'Pedigree is no longer of any significance in democratic India. It is the performance that is crucial,' said Shri Dhirubhai Ambani in his acceptance speech.
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Shri Dhirubhai Ambani was always proud of his humble origins. In December 1995, Shri Dhirubhai Ambani visited his hometown Chorwad at the behest of his wife, Smt. Kokilaben Ambani. To celebrate his homecoming, the Ambanis invited the entire village to a grand celebratory feast.
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The 1992 Reliance twin issues drew an overwhelming response. Long queues of investors could be seen waiting outside distribution centers and banks in Bombay.
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From his days in Aden, Shri Dhirubhai Ambani nurtured a dream to establish a refinery. In 1988, Shri Dhirubhai Ambani initiated efforts to establish a petrochemical complex at Hazira, near Surat. In 1991, the first phase of the Reliance Hazira project was commissioned to manufacture a wide range of polymers, polyesters, and petrochemicals.
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Reliance was the official sponsor of the 1987 Cricket World Cup jointly held in India and Pakistan. The World Cup was renamed the Reliance Cup. After the final, Shri Dhirubhai Ambani handed over the winner's trophy to Allan Border, captain of the Australian team at Eden Gardens, Calcutta.
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Shri Dhirubhai Ambani booked the Cooperage Football Ground in Colaba to host a mega-AGM event. It was reported in Financial Times as ‘the world’s largest company AGM’ attended by 12,000 Reliance shareholders. 'My investors are my biggest bankers,' Shri Dhirubhai Ambani said, acknowledging the massive crowd.
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In 1980, Shri Dhirubhai Ambani realized that Reliance would need to be self-sufficient in the acquisition of raw material, Polyester Filament Yarn. He won a manufacturing license and commissioned Reliance Patalganga under the supervision of Shri Mukesh Ambani, fresh out of Stanford University. Shri Mukesh Ambani worked tirelessly to ensure the plant was operational within just 18 months.
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Reliance shares were traded in the market as 'Dhirubhai'. Nobody was too small to invest in Reliance. Shri Dhirubhai Ambani would ask their domestic servants to buy Reliance shares for which he would lend them Rs 5,000 each and invest it in Reliance on their behalf. Eventually, he convinced close to 4 million Indians to invest their hard-earned money in Reliance. Here is a Reliance share priced at Rs. 10 in 1992.
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In 1977, in order to scale up its operations, funds were needed. Unwilling to face red tape from banks, Reliance reached out to the public. Its first public issue was oversubscribed seven times, to the complete astonishment of trade analysts. Small investors now became the backbone of the company.
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