Balvant Parekh
Balvantray Kalyanji Parekh | |
|---|---|
| Born | 1925 Mahuva, Bhavnagar district, Gujarat, India |
| Died | 2013-01-25 |
| Occupation | Businessman |
| Known for | Founder of Pidilite Industries, Fevicol brand |
| Notable work | Fevicol adhesive |
Balvantray Kalyanji Parekh (1925 – 25 January 2013) was a prominent Indian businessman and the visionary behind Pidilite Industries. He earned the nickname Fevicol Man for his association with the iconic adhesive brand.
Early life
Born into a Jain family in Mahuva, located in Gujarat's Bhavnagar district, Balvant hailed from a lineage that included a magistrate grandfather. He completed his early education in Mahuva before obtaining a law degree from Government Law College in Mumbai. During his academic years, he married Kantaben but chose not to pursue a legal career. Instead, he gained experience working at a dyeing and printing facility and later as an office peon for a wood trading firm in Mumbai. With financial backing from investor Mohan, Balvant began importing bicycles, areca nuts, and paper dyes from Western countries. Eventually, he settled with his family in a flat situated in Sion, Mumbai.
Pidilite Industries
Balvant entered into an equal partnership with the German company Fedco, which represented Hoechst AG. In 1954, at the invitation of Hoechst’s managing director, he spent a month in Germany. Following the director's passing, Hoechst opted to engage directly in business operations. That same year, Balvant and his brother Sushil established Parekh Dyechem Industries, a manufacturing unit for dyes and industrial chemicals located in Jacob Circle, Mumbai. Balvant increased his stake in Fedco and developed Fevicol, an adhesive inspired by the German product Movicol. His younger brother Narendra joined the enterprise after completing studies in the United States. The company adopted the name Pidilite Industries in 1959.
Philanthropy
Balvant contributed to founding an Arts and Science college in his hometown of Mahuva, Gujarat. He made a significant donation of ₹2 crore towards the Science City initiative in Bhavnagar and supported the Gujarati Sahitya Parishad. In 2009, he established the Balvant Parekh Centre for General Semantics and Other Human Sciences based in Baroda, Gujarat.
Awards and Recognitions
- Recipient of the J. Talbot Winchell Award in 2011
- Positioned 45th on Forbes India's yearly rich list
Associations
Balvant held the position of Chairman at Vinyl Chemicals India and was the inaugural Chairman of Pidilite Industries.
Family
He was father to two sons, Madhukar Parekh and Ajay Parekh, both actively engaged with Pidilite Industries, as well as a daughter named Kalpana Parekh. Balvant maintained a close friendship with Dhirubhai Ambani, founder of Reliance Industries; both resided in the same apartment complex on Carmichael Road, Mumbai.
Balvant passed away on 25 January 2013 at the age of 88.