Exploring Ed-Tech Giant Byju’s Start-up Story
This article walks the reader through the life and career path of Byju Raveendran who is the founder of Byju’s.
23 Sep, 2021
6 min read
6767 Views
This article highlights the highs and lows of once-billionaire Anil Ambani.
A Brief Overview
His journey is one of grit, determination and reality. Read on to understand more about the brother of billionaire Mukesh Ambani.
Who is Anil Ambani?
For the uninitiated, Anil Ambani is the second child of Dhoruba Ambani, a veteran business mogul. An Indian businessman, Ambani is chairman of the Anil Dhirubhai Ambani Group which is more popularly known as the Reliance Group.
Having been the owner of a number of successful companies including Reliance Power and Reliance Communication, his business operates within the realms of finance, power and telecom among others. His company Reliance Power’s IPO witnessed a subscription that was complete in under a minute which is the speediest subscription to have occurred within the Indian capital market.
Business Success Enjoyed by Anil Ambani
Prior to joining the Reliance Industry in the role of a co-CEO in 1983, Anil Ambani got a master’s in business administration from Wharton, University of Pennsylvania. This industry had been started by his father.
Early successes attributed to Anil Ambani include playing a pioneering role in leading India to the foreign capital market with the aid of IPOs or initial public offerings. These were in the form of convertibles, bonds and global depository receipts. With Anil Ambani spearheading Reliance Industries the entity was able to amass USD 2 billion courtesy the international financial market.
The year 2004 saw Anil Ambani get elected as a Member of the Rajya Sabha.
Anil Ambani vs. Mukesh Ambani
Dhirubhai Ambani died in 2002 without signing his will which would later cause disputes between his two sons. Anil Ambani was now assigned the role of Managing Director of Reliance Industries while his brother became the chairman of the conglomerate that was then worth INR 28,000 Crores.
2005 witnessed the two brothers disagree over the supply of gas which resulted in them taking the matter up in court. This ultimately meant that the company split into two. Anil Ambani gained control of telecom, power generation and financial services while his brother Mukesh Ambani was now responsible for oil-refining and petrochemicals.
Continued Success
At the height of his success following the split of Reliance Industries, Anil Ambani was responsible for Reliance Communication which drew in significant sums of money.
As of 2007, he witnessed his overall wealth amount to approximately INR 4 Lakh crores and was the recipient of a number of business awards.
In 2008, his Reliance Power’s IPO was subscribed to under IPO leading his name to go down in history as this was the largest IPO Indian markets had witnessed at the time.
His success seemed to know no bounds at the time as was evident in the diverse development projects he was then engaged in. One of these included Mumbai’s first metro line that was being developed under Reliance Infrastructure.
Anil Ambani had even ventured into the entertainment industry during this time as he had invested in DreamWorks Pictures’ which is Steven Spielberg’s movie production house.
The Financial Crisis of 2008 and its Repercussions
The financial crisis of 2008 caused several hurdles for Anil Ambani however the INR 11,563 Crores generated via the Reliance Power IPO were able to help his future endeavors.
That being said, to set these projects in motion he required natural gas at an affordable rate which wasn’t a possibility given the 2008 crash.
His brother took this as his cue to nullify the non-compete clause that had previously been in effect and was meant to be upheld until 2010 and sought to profit from the situation.
Reliance Communications had to ultimately close its doors in 2017 owing to its inability to compete with other players in the telecommunication industry.
Anil Ambani chose to buy Pipavav Defense which was already bogged down in debt amounting to INR 7000 Crores which wasn’t a savvy business purchase as he lost money on the same.
His other companies i.e., Reliance Infrastructure, Reliance Home Finance and Reliance Power also incurred losses and began to default on bond payments.
Presently Anil Ambani latest news yields indicate that he has no money to his name.
Conclusion
The story of Anil Ambani is significant as it highlights that continued success doesn’t always last and it is possible to make bad investment decisions. Furthermore, crashes such as the one in 2008 can lead to devastating consequences that not all can recover from. In order to stay aware of Anil Ambani news you can follow his Twitter account - @anilambani.
FAQs
Q1. When was Anil Ambani born?
A1. Anil Ambani was born on June 4, 1959.
Q2. How is Anil Ambani related to Mukesh Ambani?
A2. Anil Ambani and Mukesh Ambani are brothers.
Q3. Is Reliance Communications still functional?
A3. No, Reliance Communications is no longer operational.
How would you rate this blog?
Related Blogs
Translate the power of knowledge into action. Open Free* Demat Account
Latest Blog
-
17 May, 2022
5 min read
Aman Gupta: Success Story of the BoAt Co-Founder
If you watched the Indian edition of Shark Tank this past year, you may be familiar with Aman Gupta who served as one of the investors on the show. A…
-
18 Oct, 2020
5 min read
Mukesh Ambani: The Rise of India's Richest Man
In 1981, while studying an MBA at Stanford University, young Mukesh received a call from his father. He dropped out of the Univesity and came back t…
-
10 Aug, 2022
5 min read
Lakshmi Mittal Success Story
Learn about Lakshmi Mittal, India’s steel tycoon and executive chairman of ArcelorMittal.
-
28 Jul, 2021
9 min read
Success Story of Elon Musk: The...
Elon Musk is a celebrated entrepreneur. This article talks about his pathway to success.
-
21 Oct, 2021
8 min read
Success Story of Vijay Kedia
Vijay Kedia has been an inspiration to many. He has been involved in the market since the age of 19! Here is a glimpse of his success story as an Ind…
-
19 Apr, 2022
6 min read
Dhirubhai Ambani Biography: Success Story
Learn all that the Dhirubhai Ambani biography entails and understand how he built Reliance Industries from the ground up.
-
23 Mar, 2023
3 min read
Success Story of Vineeta Singh - Founder...
The success story of Vineeta Singh, founder of Sugar Cosmetics is one of perseverance, the emergence of the startup culture in India and the end of d…
-
26 Mar, 2022
5 min read
Nirmala Sitharaman’s Success Story
This article discusses the early life and career of India’s finance minister and touches upon her accomplishments over the years.
-
27 Apr, 2022
7 min read
Top 10 Most Inspirational Person in India
Learn about some of the most inspiring personalities of India by examining the article provided below.
-
02 Aug, 2021
10 min read
Success Story of Paytm - Vijay Shekhar...
This is a story about the journey of India’s second-youngest billionaire – Vijay Shekhar Sharma, and his brainchild, Paytm that revolutionised digita…
-
16 Jan, 2021
8 min read
The Success Story Of India's Vaccine...
Cyrus Poonawalla is one of the richest businessmen in India and the world. In 1966, he founded the Serum Institution. Read this blog to know the succ…
-
22 Oct, 2021
5 min read
The Success Story of Jack Ma, Chinese Businessman
Jack Ma, whose Chinese name is Ma Yun, is one of China's wealthiest and the founder of Alibaba Group. But, did you know that Ma failed the entrance e…
-
04 Oct, 2020
6 min read
Ratan Tata: An Inspirational Success...
Ratan Tata is a name that immediately draws recognition from all. The tata group scion has earned reverence not only as a successful industrialist bu…
-
14 Apr, 2022
5 min read
Dr APJ Abdul Kalam: Success Story,...
Learn the APJ Abdul Kalam story and walk away feeling inspired by the country’s missile man.
-
28 Dec, 2020
8 min read
Tracing The Success Story Of Gautam Adani
Gautam Adani is an Indian billionaire Entrepreneur and industrialist. Read this blog to know the success story of a man who thought ambitiously and m…
-
22 Jul, 2021
8 min read
OYO Success Story: Inspiring Journey of...
OYO serves to be one of the most well recognized and successful startups the country has produced and holds rank as the largest budget hotel chain.
-
25 Oct, 2020
5 min read
Rakesh Junjhunwala: A Journey From Rs 5k...
He started with a paltry sum of Rs 5000 in 1985 and made it big. According to the latest Forbes report, his wealth stands at a staggering volume of U…
-
23 May, 2022
5 min read
Falguni Nayar Success Story: Nykaa Founder
Take a look at what Nykaa founder Falugni Nayar’s story is and understand how the company grew exponentially over the course of the past decade.
-
07 Mar, 2022
7 min read
Dhirubhai Ambani’s Success Story
This article explores the life and times of Dhirubhai Ambani, the man credited with founding Reliance Commercial Corporation.
-
15 May, 2022
4 min read
Ratan Tata's Youngest Assistant: Shantanu...
Learn about Shantanu Naidu and how his start-up caught the eye of Ratan Tata.
-
28 Feb, 2022
5 min read
Ashneer Grover Biography - BhartPe...
This article focuses on the career trajectory of Ashneer Grover who serves as one of the co-founder’s of BharatPe.
-
27 Jul, 2021
9 min read
Success Story of Jeff Bezos: Founder &...
Know how Jeff Bezos established a multinational company from scratch and became one of the most successful entrepreneurs.
-
07 Feb, 2023
None min read
Shaadi.Com Founder: Anupam Mittal Success Story
Discover Anupam Mittal's entrepreneurial journey. Founder of People Group with successful ventures like Shadi.com, Makaan.com & Mauj mobile.
-
25 May, 2022
5 min read
Mark Zuckerberg's Success Story: Founder...
Understand the Mark Zuckerberg story and take a look at how Meta (formerly Facebook) has transformed over the years.
-
31 Mar, 2022
6 min read
Sundar Pichai: Success Story of Google CEO
The career trajectory and early life of Sundar Pichai, Google’s CEO, have been discussed in the article provided below.
-
11 Jul, 2022
5 min read
Biocon Founder: Kiran Mazumdar Shaw Success Story
Learn about Kiran Mazumdar Shaw who is one of the country’s self-made billionaire entrepreneurs and who is the founder of Biocon.
-
29 Mar, 2022
6 min read
Lenskart Startup Story: Leading Eyewear Company
This article uncovers the early days of Lenskart and discusses how it gained popularity and grew over a relatively short period of time.
-
10 Apr, 2021
7 min read
The Success Story Of Small-cap Czar,...
His knack to pick value stocks of lesser-known companies has earned him the moniker, small-cap czar.
-
22 Dec, 2021
8 min read
Nykaa Success Story - Startup to IPO
How do you go from startup to an IPO oversubscribed over 81 times in under 10 years? That's what we're going to try and understand in today's blog po…
-
20 Jul, 2023
None min read
Amit Jain Success Story - CEO and...
IIT graduate, successful entrepreneur and now reality TV judge - Amit Jain is someone India’s youth looks up to. But do you know the story behind his…
-
01 Nov, 2020
5 min read
Warren Buffet: The Success Story Of The...
Warren Buffet is an American investor, businessman, and philanthropist. He is also a self-made billionaire and arguably the most discussed share mark…
-
12 Aug, 2022
6 min read
Shiv Nadar: Success Story
Understand who Shiv Nadar, the man behind the billion-dollar HCL Technologies empire is.
-
16 Jan, 2021
8 min read
From Investor to Entrepreneur: Journey of...
From an investor to an entrepreneur, RK Damani's success story inspires millions. He is one of the few billionaires who have made their way to succes…
-
11 Oct, 2020
4 min read
Azim Premji: How One Man’s Action...
Azim Premji turned a small family-owned cooking oil company into a multi-billion IT outsource company.
-
23 Mar, 2021
8 min read
A Software Engineer Turned Value...
One of the most successful value investors of his time, Mohnish Pabrai, considers Warren Buffet his investment guru.
-
13 Mar, 2021
8 min read
From A Small Lender To Asia's Richest...
Starting with a small lending firm that offered affordable loans to small companies, Uday Kotak turned his business into a successful bank, which is …
-
13 Jul, 2022
5 min read
Top 10 Unicorn Startup Company in India...
Understand the top 10 unicorn companies in India and what makes them stand out.
-
13 Jan, 2022
10 min read
Raamdeo Agrawal: How Discipline can bring...
Mr. Raamdeo Agrawal is a well-known figure in the Indian investment world. His performance, the so-called virtuoso, had the clear goal of demonstrati…
-
21 Apr, 2022
5 min read
Shiv Khera | Every Success Story is Also...
Shiv Khera’s motivational speaking has inspired the masses. Check out his life story and learn why it makes for a compelling case that outlines the p…
Ready To Trade? Start with
Subscribe to #SmartSauda Newsletter
CONTINUE WITH GOOGLE
CONTINUE WITH FACEBOOK
