Kumar Mangalam Birla will share the secrets behind successful acquisitions at the Global Trends Festival 2020
Business Insider Global Trends Festival
- Global Trends Festival is one of the world's most prestigious events which will be live from Oct 19-23.
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An anecdote goes that when
The most significant mindset change he brought was bringing in meritocracy and retiring vice presidents who were 60 years old. There were 350 of them! After that, he modernised the age-old financial reporting business model and consolidated it into the metals-to-telecom and financial services empire that stands tall today. The results are more than evident; these very businesses' value has grown 25 times.
Kumar Mangalam Birla believes that failure is not fatal; it is inevitable. And the lack of failure suggests that one is only not taking enough risks. One must never fear failure but instead learn from it. And there lies the success mantra for any business to thrive.
The media-shy billionaire is widely known for his global vision, and he holds a little known record of sorts. Kumar Mangalam Birla has been the architect of over 40 acquisitions both nationally and internationally. No other Indian multinational company has managed this feat. These acquisitions added value and catapulted the businesses to a leadership position in their respective sectors.
The group's grandest purchase to date remains the $6 billion acquisition of Novelis by Hindalco in 2007. Over time, the asset has yielded dividends that allowed Hindalco to veer towards high margin products in a volatile business like metals.
So what is on the coveted investment checklist of this successful billionaire? On the global stage, Kumar Mangalam Birla will share some secrets behind his success at the Global Trends Festival 2020.
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