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Dinesh Thakkar is founder, chairman, and managing director of Angel One. He has bought an entire residential tower in Mumbai for Rs 711 crore.
The sea-facing, eight-storey tower is located in the upscale Juhu neighbourhood. It is part of Embassy Developments' Embassy Terazza project.
The company said the transaction is the largest single residential unit transaction in India. Thakkar will use the eight-storey tower as his family home.
He said his focus was on privacy, spaciousness, and exceptional sea views. He wanted to create a luxurious, iconic sanctuary for his family. He has named the tower Angelus.
The 12th-Pass Crorepati
Dinesh Thakkar's journey does not follow the conventional MBA-to-corporate-success route. The founder of Angel One studied only until the 12th grade.
Despite being a college dropout, Thakkar reached the heights of success through determination and business instinct.
Speaking on Ranveer Allahbadia's podcast two years ago, he said he believes entrepreneurship is something people are born with, while skills can be learned later.
Also Read: Sachin Tendulkar Buys 3.86-Acre Lonavala Land for ₹70 Crore
Early Life and Career
Thakkar was born into a business family in Mumbai's Mulund suburb. His family was involved in the textile trading business.
He 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 he found it had too many restrictions and chose to go his own way.
On The Indian Dream podcast, he explained that taking capital from family comes with a certain framework attached. He said he wanted to be a free bird instead, starting out with a small capital of Rs 2.5 lakh.
Also Read: Sanjay Nayar Buys Rs 90 Cr Carmichael Road Flat
The Rise of Angel One
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 period.
Over the years, his business and knowledge grew. He incorporated Angel Broking as a traditional stock brokerage firm in 1996.
According to a Bloomberg report, Thakkar's broking business listed in Mumbai in 2020. This came as online trading took off during the pandemic lockdown, marking a major turning point in the company's growth from a small trading outfit into one of India's leading brokerage platforms.
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