This Electronic Shop Owner Gave Ambani, Mallya Sleepless Nights & It Is Inspiring!
In the 1980s, an ordinary man became popular as “the takeover king”. In just four years this person had become one of the top ten business tycoons of India based on his strong strategies. Although today he is no more with us but his tremendous business strategy is still discussed among the corporate circle. It is truly amazing to someone start from a small electronic shop and become one the richest person of India in such a short time.
Yes, we are talking about Manohar Rajaram Chhabria, the founder of the Jumbo Group, a billion dollars worth company.
Born to a small business family in Mumbai, Chhabria was famous for buying companies in the 1980s. He had dropped-out from Siddhartha College of Commerce and stepped into the world of business. He joined his family business and began running an electronic shop. His unique takeover strategies made the big business houses vulnerable and they began to panic. With the help of his unique strategies, he joined the list of the top 10 business tycoons of India leaving behind large corporate houses like Godrej and Wadia Group.
It is noteworthy that during the 80s, Chhabria had tried to take over Larsen & Toubro which was the largest infrastructure company in the country. Since then, his takeover strategies had created panic in all business houses. Dreaded by the takeover attempt by Chhabria, the director of L&T took the help of Dhirubhai Ambani, one of the biggest industrialists of India and the founder of Reliance Industries Limited (RIL). Only then they could thwart the takeover attempt by Chhabria.
It was also the time when Chhabria family went to the Gulf countries and started their business named Jambo Electronics in Dubai. Their business gradually spread to countries like America, Britain, Oman, Japan, Hong Kong and Singapore and Chhabria became the owner of a $100 million company.
Manohar Rajaram came back to India with the intention of spreading his business. He pounded his takeover strategy in India at Liquor Company Shaw Wallace in 1985. Then one after another 11 big companies and subsidiaries came under his Jumbo Group of Companies. There was a lot of controversy between Mallya and Chhabria regarding the takeover of the Shaw Wallace Company. But after the demise of Chhabria in 2002, Mallya had regained the ownership of the company.
Despite having limited education and no business background, Chhabria had toppled the big business tycoons with his own ability and intelligence. His achievement was truly remarkable and unmatched in itself. It was only his courage and belief in himself that he competed.