This is the story of Manohar Rajaram Chhabria, who started out with a small electronic shop but later became known as the “takeover king”. Within four years he was able to get his name on the list of top ten business moguls in India with the sheer strength of his strategy.
He is no more between us but his incredible business strategy still inspires many among the corporate circle. The man transformed from an electronic shop owner to one of the richest people in India in a very short time.
Manohar Rajaram Chhabria was the founder of the Jumbo Group, a company that is million dollars worth. He was born in a small business family in Mumbai. He dropped out from Siddhartha college of Commerce to explore the business world. He joined the family business and started running an electronic shop.
Chhabria had exceptional strategies of taking over which even made massive business houses anxious. And with this strategy system, he was able to reach the list of top 10 business tycoons in India by even racing ahead of Godrej and Wadia Group.
In the 80’s Chhabria endeavored to take over Larsen and Toubro, the largest infrastructure company in India. With this, he created major panic amongst all the business houses. The terrified director of L&T, of the takeover strategy of Chhabria, took the help of Dhirubhai Ambani, India’s colossal industrialist and the founder of Reliance Industries Ltd. Only then they could prevent the takeover attempt of Chhabria.
Around this time Chhabria family went to the Gulf countries to start their business there named, Jumbo Electronics in Dubai. The business increasingly expanded to countries like America, Britain, Japan and Oman, Hong Kong as well as Singapore. With this, they became the owner of $100 million Company.
He came back to India wanting to spread his business and again strategized to take over Liquor Company Shaw Wallace in the year 1985. Consequently, he acquired 11 other well-known companies under Jumbo Group of Companies. The controversy between Chhabria and Mallya over the takeover of Shaw Wallace Company was immense. However, Mallya gained the ownership of the company after the demise of Chhabria in 2002.
With limited education and hardly any business experience, Chhabria was able to overthrow many business moguls with his intelligence. His remarkable achievements are unmatched. He competed solely with his courage and belief.
(Photo Credit: India Today, Alchetron)