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

One report and its impact was such that the list of Arpatis of the world got reshuffled. The company suffered a loss of $ 65 billion, while the group’s chairman’s net worth also declined drastically. Shares of many companies of Adani Group were sold in a big way. There was chaos in the market. From January 24 till now, Gautam Adani is losing money, that too not in lakhs or crores, but in thousands of crores. have disappeared. Alam became such that Gautam Adani’s company Adani Enterprises had to take a decision to withdraw its FPO worth Rs 20,000 crore. By the way, the story of Adani touching the heights of the past few years has also been surprising everyone. He is considered an expert in taking surprising decisions. Be it retail or port and airport. Due to tremendous expansion in the field of power and infrastructure, Adani kept leaving Mukesh Ambani behind. But Mukesh Ambani’s father i.e. industrialist Dhirubhai Ambani was also caught in some such trouble at one time and he taught such a lesson that even those who conspired against him came to the point of begging. In the history of the stock market, the game of checkmate is always seen. But about four decades ago, businessman Dhirubhai Ambani also had to face a similar situation. Dhirubhai had settled the matter in his own style.

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

short selling and conspiracy

Even at that time the brokers were doing ‘short selling’ to bring down the share price of Reliance. The conspiracy of the brokers was that they used to return the borrowed shares from the brokerage by buying them at a lower price from the market and earning huge profits. Under this conspiracy, brokers sold about 3.5 lakh shares of Reliance through short selling in about half an hour. Due to the sale of so many shares together, the price of one share of Reliance fell from 131 to 121 rupees. Actually, the brokers sitting in Kolkata wanted to fill their pockets by reducing the share price of Reliance i.e. by ‘short selling’. Hindenburg, the company that issued a negative report on Adani, also earns money from ‘short selling’. That is, first they create such conditions by issuing reports that the share prices of the company fall, and then they make money through short selling. The brokers of that time also played the same trick with Dhirubhai, but as soon as Dhirubhai Ambani came to know about this trick of the brokers, Dhirubhai used his intelligence to persuade some brokers to buy shares of Reliance Textile Industries. took. After which the real game started, on one hand brokers sitting in Kolkata were continuously selling Reliance shares in Mumbai stock market, on the other hand brokers in favor of Ambani were buying shares, due to which the share price started rising instead of falling. 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 brokers of Dhirubhai Ambani. Due to this the touts who were dreaming of earning money by toppling Dhirubhai in Kolkata got caught in their own trap. After that, when the next Friday came, Ambani’s brokers asked for shares from the brokers sitting in Kolkata. The brokers in Kolkata were out of stock due to futures trading. The condition of those who sold the shares at Rs 131 worsened further. Because by then the price of the original share had reached a lot and if the brokers asked for an extension, the brokers would have to pay Rs 50 per share. But, Dhirubhai’s brokers refused to give time to Kolkata’s brokers. After this the brokers got a big shock and they had to buy and sell the shares of Reliance Textile Industries at higher prices.