Balvant Parekh
Balvant Parekh (1925-25 January 2013) also known as Balvantray Kalyanji Parakeh and B K Parekh was an Indian entrepreneur and founder of Pidilite Industries. Blavant was known as “India’s Fevicol Man”.[1]
Early life
Balvant was born in Mahuva town of Bhavnagar district Gujarat India. Balvant grandfather was a magistrate. Balvant finished his initial school education in Mahuva and got his law degree from Government Law College Mumbai. While he was studying Balvant got married to Kantaben. Balvant never practiced law and worked in a dyeing and printing press in Mumbai. He changed job as a peon in a wood trader’s office where he used to stay in the warehouse along with his wife. Balvant decided to start his own business with a help of investor Mohan and started importing cycle, areca nut, paper dyes from western countries. After starting his business Balvant moved to flat in Sion Mumbai along with his wife, son and brother Sushil.
Pidilite Industries
Balvant joined fifty percent partnership with a German firm Fedco representing another German company Hoechst. In 1954 on invitation from the managing director of Hoechst Balvant went to Germany for a month. After the death of Hoechst managing director, company decided to do direct business. In 1954 Balvant started trading and manufacturing of dye and industrial chemicals, pigment emulsions unit in Jacob circle Mumbai along with his brother Sushil, which he named Parekh Dyechem Industries.[2] Balvant started buying more stocks of Fedco and made a glue name Favicol. The name of glue was inspired by German word ‘Col’ meaning anything that bonds two things and the German company was making identical product named ‘Movicol’. Balvant’s younger brother Narendra Parekh also joined his business after finishing studies from USA. The company was later renamed as Pidilite Industries in 1959[3][4]
Philanthropy
Balvant had provided support in starting an Arts and Science college in Mahua Gujarat India. He donated INR 20 million for Bhavnagar’s Science city project and also donated to Gujarati Sahitya Parishad. In 2009 Balvant founded Balvant Parekh Centre for General Semantics and Other Human Sciences in Baroda Gujarat India.[5][6]
Awards and Recognitions
- 1. J. Talbot Winchell Award in 2011[7]
- 2. Forbes India had placed him 45th on its annual rich list rankings[8]
Associations
Balvant had served as the Chairman of Vinyl Chemicals India and the founder Chairman of Pidilite Industries.[9]
Family
Balvant had two sons Madhukar Parekh and Ajay Parekh both part of the family business Pidilite Industries.[10] Balvant was close friend of Dhirubhai Ambani founder of Reliance Industries and lived in the same apartment block in Usha Kiran building on Carmichael Road Mumbai.[11]
Balvant died on January 25, 2013 at the age of 88.
References
- ↑ "Balvant Parekh, India's Fevicol Man, Dies". Forbes. Retrieved 2 March 2015.
- ↑ "Balvant Parekh: A Legacy That Sticks". Forbes. Retrieved 2 March 2015.
- ↑ "Fevicol fame Pidilite Industry’s founder Balvantbhai Parekh passes away". Desh Guarat. Retrieved 2 March 2015.
- ↑ "Company History - Pidilite Industries Ltd.". The Economic Times. Retrieved 2 March 2015.
- ↑ "Balvant Parekh Centre for General Semantics and Other Human Sciences". Balvant Parekh Centre. Retrieved 2 March 2015.
- ↑ "School dropout who's all starry-eyed". Times of India. Retrieved 2 March 2015.
- ↑ "Pidilite founder wins award". Top News. Retrieved 2 March 2015.
- ↑ "Balvant Parekh - India’s 100 Richest People". Forbes. Retrieved 2 March 2015.
- ↑ "Balvantray Kalyanji Parekh". Bloomberg. Retrieved 2 March 2015.
- ↑ "Sticking with Family : Glue Magnate and Family Business leader Dies". Campden. Retrieved 2 March 2015.
- ↑ "Fevicol fame Pidilite Industry’s founder Balvantbhai Parekh". Desh Gujarat. Retrieved 2 March 2015.