Lawyer Turned Entrepreneur Balvant Parekh – The ‘Fevicol Man’ of India
Balvantray Kalyanji Parekh (commonly known as Balvant Parekh) was an Indian lawyer, entrepreneur, and businessman who founded Pidilite Industries in 1959. Balvant is also known as ‘The Fevicol Man’ of India because of his contribution to this business. Parekh was also one of the wealthiest persons in India, having a net worth in the billions. His company manufactures adhesives, resins, pigments, sealants, products widely used by painters, carpenters, plumbers, etc. So, let us delve into this article to read the success story of this brilliant lawyer who turned into an entrepreneur.
Balvant Parekh – Key Highlights
- Full Name - Balvantray Kalyanji Parekh
- Year of Birth - 1925
- Place of Birth - Mahuva, Gujarat, India
- Date of Death - 25 January 2013 (aged 87-88 years)
- Place of Death – Mumbai, Maharashtra, India
- Nationality - Indian
- Profession - Lawyer, Entrepreneur, Businessman
- Alma Mater - Government Law College, Mumbai
- Designation - Founder of Pidilite Industries
- Marital Status - Married
- Spouse - Kantaben
- Children – Madukar Parekh, Ajay Parekh, Kalpana Parekh
Balvant Parekh – Early Life and Education
Parekh was born in a Jain family in Mahuva, Bhavnagar district of Gujarat, India. Balvant completed his schooling in Mahuva and later went on to study law at Government Law College, Mumbai. His grandfather was a magistrate, and he motivated him to study law. But Parekh never practiced law and worked in a printing and dyeing press in Mumbai and a peon in a wood trader’s office.
Balvant stayed in that’s office’s warehouse during his struggling days with his wife until he decided to start his own business.
Balvant Parekh – Personal Life
Balvant got married to Kantaben while studying, and the couple has three children, Madhukar Parekh, Ajay Parekh, and Kalpana Parekh. His eldest son, Madhukar, is the present chairman of Pidilite Industries.
Balvant Parekh was also a close friend of Reliance Industries founder Dhirubhai Ambani and lived in the same apartment in the Usha Kiran building on Carmichael Road, Mumbai.
Note : Parekh died at the age of 88 on 25 January 2013 in Mumbai, India.
Balvant Parekh – Career Timeline
- Early Career - Despite having a law degree from a reputed college, Balvant never practiced and decided to start his own business with the help of Mohan (an investor). Mohan and Balvant started importing cycle paper dyes, areca nuts from western countries. After a few years of starting his business, he moved to a flat in Sion, Mumbai, and his wife, children, and brother Sushil.
- Parekh Dyechem Industries - Balvant joined the German firm Fedco with a fifty percent partnership, representing another German company Hoechst. He traveled to Germany on an invitation from the MD of Hoechst, and after the MD’s death, the company decided to do direct business. So, in 1954, Parekh started manufacturing and trading dye and pigment emulsions, industrial chemicals, unit in Jacob Circle, Mumbai, with his brother Sushil. He named it Parekh Dyechem Industries.
- Pidilite Industries - Balvant decided to make glue (Fevicol) and started buying more stocks of Fedco, and a German company was making the same product with the name, Movicol. The name of glue got inspired by the German word ‘Col,’ which means anything that bonds two things. His younger brother Narendra also joined the business after completing his studies in the US. The company got later named Pidilite Industries in 1959.
Balvant Parekh – Awards and Recognitions
Some of the achievements and awards of Balvant are as follows:
- J. Talbot Winchell Award – 2011
- 45th Rank in India’s Top 50 Rich People – By Forbes India Magazine, 2012
Balvant Parekh – Philanthropic Work
Balvant, a reputable businessman, was also a well-known philanthropist. Some of his philanthropic work is as follows:
- He provided financial support in starting an Arts and Science College in Mahua, Gujarat, India.
- Balvant also donated INR 20 million for Bhavnagar’s Science City.
- He also has the financial support for the Gujarati Sahitya Parishad.
- Balvant also founded Balvant Parekh Centre for General Semantics & Other Human Sciences – Baroda, Gujarat, 2009
Balvant Parekh – The Lawyer Who Turned a Businessman
Balvant Parekh is one of the most significant Indian entrepreneurs who could change the whole business market. You will hardly find anyone who is a lawyer by profession and a very successful entrepreneur and business. Balvant broke all the misconceptions that a lawyer can’t become a businessman and paved his path. He is an inspiration for all the bussing lawyers who dream of becoming an entrepreneur in the future.
