They came from far and wide to Mumbai, filling up the vast Cooperage Football Ground in Colaba, excited like a teenage ARMY at a BTS concert. It was not a match or a concert, though; yet the man who made them go there was a rock star on his own.
It was the mid-1980s and Dhirub hai Ambani had kickstarted a stock market revolution with the initial public offering of Reliance a few years earlier, turning thousands of ordinary Indians across the country into crorepatis. And in the ‘go-bigor-go-home’ style that has encapsulated the Ambani business ethos, the annual general body meeting of the company was held in a stadium, a first, perhaps, in the world.
“I knew history was being made,” said Ramnikbhai, an early Reliance investor whose life was transformed because of that one nifty bit of investment. ₹1,000 invested in the Reliance IPO is worth more than ₹2 crore today!
Will history repeat itself and cash counters go cha-ching again, as the Life Insurance Corporation of India, India’s largest insurer, gears up for its first sale of shares? Will it, in the process, help the government avoid a debt trap? More significantly, will it change the way Indians invest, making ordinary people put their money in stock markets for the first time?
TAKING STOCK
V.R. Srinivasan, a bureaucrat based in Delhi, had stuck to safe modes of investments like fixed deposits and insurance policies all his life. The ‘riskiest’ he had ever gone was putting a small amount in a systematic investment plan. Now, just a few months ahead of his retirement, all that might change.
“Markets are unpredictable, but there is definitely value in LIC IPO,” he said. “I will apply for a minimum number of shares.”
هذه القصة مأخوذة من طبعة May 08, 2022 من THE WEEK.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 8500 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة May 08, 2022 من THE WEEK.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 8500 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
AI & I
Through her book Code Dependent—shortlisted for the Women’s Prize for Non-Fiction—Madhumita Murgia gives voice to the voiceless multitudes impacted by artificial intelligence
Hair force
Sheetal Mallar, in her photobook Braided, uses hair as a metaphor to tell a story that is personal yet universal
The art of political protest
The past doesn’t always remain in the past. Sometimes, it emerges in the present, reminding us about the universality and repetitiveness of the human experience. Berlin’s George Grosz Museum, a tiny gem, is a startling reminder that modern political and social ills are not modern. Grosz lived through World Wars I and II, shining a torch into the heart of darkness in high-ranking men and women—who were complicit in the collapse of the world as they knew it.
DIVERSITY IN UNITY
THE SOUTH ASIAN COMMUNITY IN THE US HAS SEVERAL THINGS IN COMMON, BUT WHEN IT COMES TO THE UPCOMING ELECTIONS, THERE ARE WIDELY DIFFERING OPINIONS AND FEELINGS
RED SHOOTS RISING
CPI(M) hopes its fiery young candidates will usher in a left renaissance in West Bengal
BATTLE OF THE BRAINS
Top poll strategists are engaged in a proxy war in Andhra Pradesh
Anupamaa's whisper to Rupali Ganguly
I have been a fan of the television drama series, Anupamaa, right from the very start. The number one Hindi TV serial in the country for almost four years now, it tells the story of simple Ahmedabad housewife, Anupamaa, who loved her husband, children, and in-laws, and found her happiness exclusively in theirs.
ROYAL CHALLENGE
Two descendants of Chhatrapati Shivaji are in the fray
AJIT PAWAR'S NCP WILL BE WIPED OUT
INTERVIEW - PRITHVIRAJ CHAVAN, CONGRESS LEADER AND FORMER CHIEF MINISTER
HEIR-BORNE BATTLE
Modi’s acceptability remains high even where voters find the BJP’s quest for power at any cost offensive, but the Maha Vikas Aghadi clearly has its tail up. The mood and moves on the ground...