By J Shridhar
I read the tributes which poured in from all quarters after the recent departure of Rahul Bajaj. Having had a ringside view for well over four decades in Bajaj Group, let me also say that he was easily one of the greatest industrialists that India has ever produced.
With his precocious talent, he became a business icon at a very early age. He also came to be regarded as a doyen of Industry quite early, as he had achieved quite a lot even while very young. He was heading Bajaj Auto when he was barely over 30. For five decades, he led the group with great skill, efficiency and vision. Quite a few shareholders who had invested in Bajaj Auto decades ago would mention at every general meeting as to how many generations of theirs have prospered due to a tiny investment in the shares of Bajaj Auto.
In the 1970s and 1980s, he was the uncrowned Scooter King. The high and mighty used to approach him for a priority allotment of a Bajaj scooter, which used to enjoy a waiting list of 15-20 years, something unthinkable for today’s millennials. Quite a lot of his time had to be spent in politely refusing, as he believed every customer was a king. Even the shareholders, whose constant refrain at every meeting used to be getting a priority allotment of scooter (more than getting higher dividend or bonus), had to be told in his inimitable style as to how it was not possible. The shareholders quietly accepted it as they knew that it was not easy to get his decision changed by fawning. The shareholders who were also mostly his customers appreciated his fairness and firmness.
He was a living legend. He left a great impression on everyone who met him. There were people coming to him with various requests and requirements all the time. It was not just the employees, vendors, dealers, customers, shareholders, investors, bankers, media, industry chambers or bureaucrats. It could also be many Indian and global heads of governments. He was friendly, approachable, helpful, respectful and kind in his approach. However, he could say No in the most endearing way. Everyone who met him never minded it and went back happily; in fact, with great pride that they had met him. Meeting the legend was more than enough for them.
He was a perfectionist. Every minute was well-planned and thought out. He never left anything to chance. There was no ambiguity in anything that he said. To be sure that there was no misunderstanding, he would repeat the instructions a few times without making it obvious that he was saying the same thing. For him, spending an extra minute in explaining was more important than undoing some wrong action due to a miscommunication.
He was an exceptional leader, who achieved infinite success. He was one with the Midas touch. He was generally averse to diversification, as he believed in focus and core competence. The only exception he made was in the areas of financial services and general & life insurance. Everyone knows what a meteoric success this diversification has proved for the Bajaj Group. Demerger was another masterstroke and in just over a decade after demerger, the market cap of the Group reached stratospheric levels. He was a living management school, with every action of his being a lesson for all.
It was amazing that even in topics like medicine or politics, he could come out with completely new insights and thoughts. With an innate understanding of the market, he was supremely confident. With no axe to grind, he was totally independent. With incredible upbringing, he was always well-grounded. He exuded positivity and optimism.
Incidentally, Shareholders’ Meetings, which generally are considered drab and dreary, were different in Bajaj Auto, where shareholders thronged at the meetings as he enlightened and entertained them in his unique way. He had a great sense of humour, and his verbal duels with his son at the meetings with their funny banter, teasing and repartees had the shareholders in thrall.
He loved his family and made it a point to spend great quality time with his grandchildren in the later years.
He was towering, charming and handsome with an enviable charisma and magnetism.
He was always transparent and outspoken. He was a pioneer of corporate governance in India. Being from a Gandhian family, for him, nothing was more important than truth and integrity,
He was a proud & patriotic Indian. He lived a simple life in the outskirts of Pune. He was generous, with his philanthropy, always touching the needy and poor.
God perhaps wanted humara BAJAJ to be with Him, for help in achieving His own mission.
The author is Company Secretary, Bajaj Auto Ltd, Pune. Views are personal)