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12th-pass founder buys sea-facing tower in Mumbai's Juhu for ₹711 crore: All about Dinesh Thakkar
Dinesh Thakkar, founder, chairman and managing director of Angel One, has snapped up an entire residential tower in Mumbai for ₹711 crore.
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Dinesh Thakkar, founder, chairman and managing director of Angel One, has snapped up an entire residential tower in Mumbai for ₹711 crore. The sea-facing eight-storey tower is located in the upscale Juhu neighbourhood and is part of Embassy Developments’ Embassy Terazza project.
The company said the transaction is the largest single residential unit transaction in India. Dinesh Thakkar will be using the eight-storey tower as his family home.
“When I started looking for a new home, my focus was on privacy, spaciousness, exceptional sea views and creating a luxurious, iconic sanctuary that would become our family home,” he said.
The founder added that the tower will be named Angelus.
Dinesh Thakkar: The 12th-pass crorepati
Dinesh Thakkar’s journey does not follow the conventional MBA to corporate success route. In fact, the founder of Angel One has studied only till the 12th grade.
Despite being a college dropout, Thakkar managed to reach the heights of success through sheer determination and an instinct for business.
“I believe that entrepreneurship is something that people are born with. The skill set can be acquired later, but entrepreneurship is innate,” he said on Ranveer Allahbadia’s podcast two years ago.
(Also read: Angel One founder buys Juhu bldg for ₹711 cr)
Early life and career
Dinesh Thakkar was born into a business family in Mumbai’s Mulund suburb. His family was involved in the textile trading business.
Thakkar studied at St John the Baptist High School in Thane. According to his LinkedIn profile, he also spent two years studying Science at Kishinchand Chellaram College of Arts Commerce and Science.
He initially joined the family business but found too many restrictions and chose to go his separate way.
“When you take capital from family, there are certain kind of framework attached to that. So I just wanted to be a free bird,” he explained on The Indian Dream podcast. “So I started with a small capital of ₹2.5 lakh.”
(Also read: Mumbai’s new trophy asset: Forget penthouses, why the ultra-rich are buying entire luxury towers)
The rise of Angel One
Dinesh Thakkar entered the brokerage business in the late 1980s. At that time, he had little knowledge of how stock brokerage worked.
In 1992, he faced a setback because of the Harshad Mehta scam. He lost money and went into debt during that time.
However, over the years, his business and knowledge grew. He incorporated Angel Broking as a traditional stock brokerage firm in 1996.
Thakkar’s broking business listed in Mumbai in 2020 as online trading took off during the pandemic lockdown, according to a Bloomberg report.
