Balvant Parekh
{{Short description|Indian businessman}}
{{Use dmy dates|date=June 2018}}
{{Use Indian English|date=June 2018}}
{{Infobox person
| name = Balvant Parekh
| image = Portrait of Balvant Parekh.jpg
| alt =
| caption =
| birth_name = Balvantray Kalyanji Parekh
| birth_date = {{birth date text|1925}}
| birth_place = Mahuva, Gujarat, India
| death_date = {{Death date and age|2013|01|25|1925}}
| death_place = Mumbai, India
| nationality = Indian
| other_names = Fevicol Man
B K Parekh
| occupation =
| years_active =
| children = {{unbulleted list|Madhukar Parekh| Ajay Parekh| Kalpana Parekh}}
| known_for = Founder of Pidilite Industries
| notable_works =
}}
Balvantray Kalyanji Parekh (1925 – 25 January 2013) was an Indian entrepreneur and founder of Pidilite Industries. He was known as the Fevicol Man.{{cite news|title=Balvant Parekh, India's Fevicol Man, Dies|url=https://www.forbes.com/sites/naazneenkarmali/2013/01/27/balvant-parekh-indias-fevicol-man-dies/|access-date=2 March 2015|work=Forbes}}
Early life
Balvant was born in a Jain family{{Cite web|title=The Business Tycoons {{!}} Best Online Business Magazine|url=https://www.thebusinesstycoons.com/chemical_sector_madhukar_parekh_cover_story.php|access-date=2021-06-13|website=www.thebusinesstycoons.com|archive-date=20 October 2022|archive-url=https://web.archive.org/web/20221020052011/https://www.thebusinesstycoons.com/chemical_sector_madhukar_parekh_cover_story.php|url-status=dead}} family 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 married Kantaben. Balvant never practiced law and worked in a dyeing and printing press in Mumbai. He changed jobs 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 the 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 per cent 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, the 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.{{cite news|title=Balvant Parekh: A Legacy That Sticks|url=http://forbesindia.com/article/india-rich-list-2013/balvant-parekh-a-legacy-that-sticks/36497/1|accessdate=2 March 2015|work=Forbes|archive-date=8 August 2016|archive-url=https://web.archive.org/web/20160808072839/http://forbesindia.com/article/india-rich-list-2013/balvant-parekh-a-legacy-that-sticks/36497/1|url-status=dead}} Balvant started buying more stocks of Fedco and made a glue name Fevicol. 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 United States. The company was later renamed as Pidilite Industries in 1959{{cite news|title=Fevicol fame Pidilite Industry's founder Balvantbhai Parekh passes away|url=http://deshgujarat.com/2013/01/26/fevicol-fame-pidilite-industrys-founder-balvantbhai-parekh-passes-away/|accessdate=2 March 2015|publisher=Desh Guarat}}{{cite news|title=Company History - Pidilite Industries Ltd.|url=http://economictimes.indiatimes.com/pidilite-industries-ltd/infocompanyhistory/companyid-10460.cms|accessdate=2 March 2015|newspaper=The Economic Times}}
Philanthropy
Balvant had provided support in starting an Arts and Science college in Mahuva 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.{{cite web|title=Balvant Parekh Centre for General Semantics and Other Human Sciences|url=http://balvantparekhcentre.org.in/profile.htm|publisher=Balvant Parekh Centre|accessdate=2 March 2015}}{{cite news|title=School dropout who's all starry-eyed|url=http://timesofindia.indiatimes.com/city/ahmedabad/School-dropout-whos-all-starry-eyed/articleshow/3802903.cms|accessdate=2 March 2015|publisher=Times of India}}
Awards and Recognitions
- 1. J. Talbot Winchell Award in 2011{{cite news|title=Pidilite founder wins award|url=http://www.topnews.in/law/pidilite-founder-wins-award-264833|accessdate=2 March 2015|publisher=Top News|archive-date=4 March 2016|archive-url=https://web.archive.org/web/20160304135909/http://www.topnews.in/law/pidilite-founder-wins-award-264833|url-status=dead}}
- 2. Forbes India had placed him 45th on its annual rich list rankings{{cite news|title=Balvant Parekh - India's 100 Richest People|url=https://www.forbes.com/profile/balvant-parekh/|accessdate=2 March 2015|work=Forbes}}
Associations
Balvant had served as the Chairman of Vinyl Chemicals India and the founder Chairman of Pidilite Industries.{{cite news|title=Balvantray Kalyanji Parekh|url=https://www.bloomberg.com/research/stocks/people/person.asp?personId=8462191&ticker=VNYL:IN&previousCapId=171885&previousTitle=Cadbury%2520Limited|accessdate=2 March 2015|publisher=Bloomberg}}
Family
Balvant had two sons Madhukar Parekh and Ajay Parekh both part of the family business Pidilite Industries.,{{cite news|title=Sticking with Family: Glue Magnate and Family Business leader Dies|url=http://www.campdenfb.com/article/sticking-family-glue-magnate-and-family-business-leader-dies|accessdate=2 March 2015|publisher=Campden|archive-date=4 March 2016|archive-url=https://web.archive.org/web/20160304120605/http://www.campdenfb.com/article/sticking-family-glue-magnate-and-family-business-leader-dies|url-status=dead}} and one daughter, Kalpana Parekh. 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.{{cite news|title=Fevicol fame Pidilite Industry's founder Balvantbhai Parekh|url=http://deshgujarat.com/2013/01/26/fevicol-fame-pidilite-industrys-founder-balvantbhai-parekh-passes-away/|accessdate=2 March 2015|publisher=Desh Gujarat}}
Balvant died on 25 January 2013 at the age of 88.{{cite journal |last=Kar |first=Prafulla C. |title=Obituary notice (Balvant K. Parekh: 1924-2013) |journal=ETC: A Review of General Semantics |volume=70 |issue=1 |year=2013 |page=69 |url=http://link.galegroup.com/apps/doc/A326660526/AONE?sid=wikipedia |accessdate=28 April 2019 |via=Academic Onefile}} {{Subscription required}}