B. V. Raju
Indian industrialist
From Wikipedia, the free encyclopedia
Bhupathiraju Vissam Raju (1920–2002) was an Indian industrialist, and the founder of Raasi Cements & Sri Vishnu Cements. He was also the former chairman of Cement Corporation of India and was considered as one of the pioneers of Indian cement industry.[2]
B. V. Raju | |
|---|---|
Bhupathiraju Vissam Raju | |
| Born | 15 October 1920 |
| Died | 8 June 2002 (aged 81)[1] |
| Occupation | Industrialist |
| Children | 3 daughters |
| Awards | Padma Shri Padma Bhushan |
He established Sri Vishnu Educational Society (SVES) in 1992.[3] Starting in 1997, he founded two engineering colleges, a dental college and hospital, a college of pharmacy, a computer education college, a polytechnic, and several schools, and he is also the founder of the B.V Raju Institute of Technology.[4] The Government of India awarded him the fourth-highest Indian civilian award, the Padma Shri, in 1977[5] and followed it with the third-highest honour, the Padma Bhushan, in 2001.[6]
In his book India's New Capitalists, Harish Damodaran identifies B.V. Raju as a significant figure in the cement sector who managed a production capacity of 3 million tonnes through Raasi Cement and Sri Vishnu Cement. This tenure concluded following a notable hostile takeover in 1998, when India Cements Limited initiated an open offer after securing an initial 18% stake through market purchases and a private sale from a relative of Raju. While the acquisition attempt initially drew public opposition from regional business leaders under the banner of "Telugu pride," the conflict ended when Raju negotiated a divestment of his holdings in April 1998. He subsequently exited Sri Vishnu Cement in 1999, marking the transition of the Raasi group from a leading industrial force to a marginalised one.[7]
