Dhirubhai Ambani also had to face the crisis as ‘Adani’, he taught the conspirators a lesson

About four decades ago, businessman Dhirubhai Ambani also had to face the same thing. Dhirubhai had resolved the matter in his own style.

One report and its impact was such that the world’s list of Arpatis was reorganized. The company suffered a loss of $65 billion, while the group chairman’s net worth also fell sharply. The shares of many Adani Group companies sold off in a big way. There was chaos in the market. From 24th Jan till now Gautam Adani is losing money, that too in lakhs or crores but thousands of crores. they have disappeared. Alam became such that Gautam Adani’s company Adani Enterprises had to make a decision to withdraw his FPO worth Rs 20,000 crore. By the way, the story of Adani touching the heights of the last few years has also surprised everyone. He is considered an expert in making surprising decisions. Whether retail or port and airport. Due to the tremendous expansion in the field of energy and infrastructure, Adani kept leaving Mukesh Ambani behind. But Mukesh Ambani’s father i.e. industrialist Dhirubhai Ambani also got involved in some of those issues at one point and taught such a lesson that even those who conspired against him went to the point of begging. In the history of the stock market, you always see the game of checkmate. But about four decades ago, businessman Dhirubhai Ambani also had to face a similar situation. Dhirubhai had resolved the matter in his own style.

In fact, the kind of crisis that Adani is facing today, something similar happened with Dhirubhai in 1982. This move by Dhirubhai created quite a stir in the Mumbai Stock Exchange on March 18, 1982. In the year 1977, Dhirubhai Ambani decided to List your Reliance company on the stock market. At that time, Reliance had issued around 28 lakh equity shares at Rs 10 per share. In less than a year, the Reliance Company’s share price had risen more than 5 times to Rs 50. After this, the price of a Reliance share increased to Rs 104 in 1980 and in 1982 it increased 1.8 times to Rs 186. Similar to the current period, Adani Group shares have gained momentum. After that, Dhirubhai Ambani planned to raise money through debentures. Bonds are one way that companies raise capital through debt. However, even at that time, some big Kolkata-sitting stock market brokers conspired to take down Reliance shares. For this, Reliance’s shares were sold on a large scale under a scheme. In fact, brokers thought big investors wouldn’t buy Reliance’s falling shares and at the time it was also a rule that the company couldn’t buy its own shares. That is, in a way, the brokers had conspired for profit by overthrowing Dhirubhai Ambani, as Hindenburg is doing today.

short sale and conspiracy

Even at the time, brokers were making “short sales” to drive down Reliance’s share price. The conspiracy of the brokers was that they used to repay the shares borrowed from the brokerage by buying them at a lower price in the market and earning huge profits. Under this conspiracy, the brokers sold around 3.5 lakh shares of Reliance through short sales in about half an hour. Due to the sale of so many shares together, the price of a Reliance share fell from Rs 131 to Rs 121. In reality, the brokers sitting in Calcutta wanted to line their pockets by reducing the price of Reliance’s shares, ie by “short selling”. Hindenburg, the company that issued a negative report on Adani, also makes money from ‘short sales’. That is, they first create such conditions by issuing reports that the company’s stock prices are falling, and then they make money by selling short. The stockbrokers of that time also played the same trick on Dhirubhai, but as soon as Dhirubhai Ambani found out about this trick from the brokers, Dhirubhai used his intelligence to persuade some brokers to buy shares of Reliance Textile Industries. After which the real game started, on one hand, sitting brokers in Kolkata were continually selling Reliance shares on the Mumbai stock market, on the other hand, pro-Ambani brokers were buying shares, so the price of stocks began to rise instead of fall. The share price increased to Rs 125. A total of 11 lakh shares of Reliance Textile Industries were sold and out of these 8 lakh 57 thousand were bought by Dhirubhai Ambani brokers. Due to this, scalpers who dreamed of making money by taking down Dhirubhai in Kolkata got caught in their own trap. After that, when the following Friday came around, the Ambani brokers asked the Kolkata brokers for shares. Brokers in Calcutta were out of stock due to futures trading. The condition of those who sold the shares at Rs 131 became even worse. Because by then the original share price had reached a lot and if the brokers applied for an extension, the brokers would have to pay Rs 50 per share. But the Dhirubhai runners refused to give the Kolkata runners time. After this, the brokers were very surprised and had to buy and sell the shares of Reliance Textile Industries at higher prices.

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