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Indeed, RIL operates in risky environments. But just like the seemingly unrealistic growth ambitions, there are three clear diktats of Mukesh (also true for his father) that set RIL apart. The first one is to raise money from markets at rates much cheaper than the rivals. It is also noteworthy that the RPL share price (IPO launched in 2005, which also attracted investment of $300 million from Chevron) is trading above the issue price, which is stupendous, considering that the refinery is expected to commence operations only in December 2008. The second is to accomplish all outstanding projects on schedule. The third is that RIL endeavours to dictate the pricing mechanism of every sector it enters.
So like we said, if it wasn’t Mukesh, the expansions could be considered preludes to disaster. But the consistent growth path that has been the Reliance way of life, proves how Mukesh is one maverick who knows exactly where he’s headed. And there is every reason to believe that he will continue to do what he does best – dominate!
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Source : IIPM Editorial, 2007
An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative
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