Tribute to Shri Vijaysingh B Padode
There are very rare instances of men daring to chuck their cushy jobs to take a plunge into the uncharted waters of publishing a pamphlet on the stock market. Shri Vijaysingh Padode was one such adventurer who dared to do the unthinkable, much against the advice of his well-wishers. In 1986, Shri Padode kicked his well-paying job as an Income Tax Officer at the age of 50 years to start an 8-page cyclostyled newsletter named Dalal Street Weekly. The weekly soon became a rage on Dalal Street due to its uncanny and insightful takes on the stock market and its profitable recommendations of stocks. It was as if D-Street was waiting for such a publication. From such humble beginnings, the weekly later became the fortnightly Dalal Street Investment Journal (DSIJ) and went on to become India’s no. 1 stock market magazine over the years. In fact, the launch of DSIJ practically started the equity research cult in India.
So what made Shri V B Padode a successful self-made entrepreneur? The qualities that defined Shri Padode were the secret of his runaway success. First, he was a risk-taker beyond compare, but he was not a reckless gambler. The stock market being a risky place, he took calculated risks and made sure that his readers also took calculated risks if they acted upon the recommendations given in DSIJ
Shri Padode was a team leader par excellence. He inducted, nurtured and retained the best of talents in his leadership team and provided all the guidance necessary to the team members to help them excel in their duties and responsibilities. He gave the team leaders the necessary freedom to pick the stock recommendations based on rigorous fundamental and technical analysis. This earned the DSIJ magazine the credibility and confidence of the investors. Shri Padode was a forever optimist who always had positive outlook on the stock market and the Indian growth story. His positive vibes were infectious,which enthused and inspired the team members.He never gave up on his beliefs and convictions, despite all the trials and tribulations faced by him during difficult times. His never-say-die attitude always helped him tide over the crises.
Not content with just the launch of DSIJ magazine, Shri Padode decided to honour the captains of industry by instituting the first Corporate Excellence Awards in the country. The awards became a benchmark of corporate excellence on various parameters and incentivized corporate leaders to excel in their diverse fields of corporate operations.
Shri Padode was the first to recognize the need to honour captains of Public Sector Undertakings (PSUs). He instituted the PSU Awards to promote and reward professional excellence among the PSUs. Today, the DSIJ PSU Awards are the most sought after awards by the leaders of PSUs.
Shri Padode also had a passion for creating corporate leaders by imparting the best of management education in India. Towards that end, he established the Institute of Finance and International Management (IFIM) in Bangalore. Today, IFIM is one among the premier management education institutions in India.
In all his endeavours, Shri Padode was ably supported and assisted by his three sons, Pratap, Sanjay and Rajesh. The dedication and hard work of his sons has helped the DSIJ Group to achieve the pinnacle of success over the years. Above all, Shri Padode was a staunch patriot who held the interests of his country above everything else. For him, nation came first and last. If the government of the day took some policy decisions that according to Shri Padode were inimical to the interests of the country, he would mince no words and come down heavily against the government. Likewise, if the government took some measures that were beneficial for Such is the legacy of Shri VijaysinghPadode that we, at DSIJ, have the onerous task to carry forward…
May his soul rest in peace…
I am deeply saddened to hear about the untimely demise of Mr V. Padode. He was a pioneer in business journalism in India. Dalal Street Investment Journal chronicled the market economy that emerged after the 1991 economic reforms. Beyond his path-breaking work in the area of investments, MrPadode was also an eminent educationist with the IFIM Business School and Vijay Bhoomi University. His demise is a big loss for us.”
- Nandan Nilekani
Co-Founder & Non-Executive Chairman, Infosys Ltd
Generations of Indian investors will always stay beholden to Vijaysingh Padode. His greatest legacy was his single-minded focus of helping the common man create wealth through the capital markets. At a time when there was little understanding of how capital markets worked and even lesser information available, the Dalal Street Investment Journal was the most sought after magazine. Reliability and trust became his hallmark. He understood that small investors were putting their hard-earned money into the markets. Even as times changed, he was never one to rest on his past laurels. It was remarkable to see how tirelessly he worked to set up various education institutions. For Dalal Street, he will always be remembered as an icon for truly democratising information.”
- Deepak Parekh,
Chairman – HDFC Limited
I feel deeply sad to learn about the untimely demise of Shri Vijaysingh B. Padode, founder of Dalal Street Investment Journal (DSIJ), the Institute of Finance and International Management (IFIM) Business School and the Vijay Bhoomi University (VBU). Backed by his high educational skills and sound knowledge of the financial services sector, Shri Padode established and ran the DSIJ and IFIM Business School with great success. My interactions with Shri Padode were always very productive and he had the farsightedness to take forward his goals in the right direction through his active participation in various forums. Shri Padode was always a big supporter of measures taken for the economic reforms in the country. His departure has certainly left a huge void. My heartfelt condolences to the bereaved family members of Shri Padode to bear this irreparable loss.”
- Suresh Prabhu
Prime Minister’s Sherpa to G20/G7
Shri Vijaysingh Padode was a pioneer in the field of financial education, financial literacy and financial journalism when these words were not even discussed in India. He started Dalal Street Journal, fondly known as DSJ, for providing analytical and timely information to investor population. I had a fortune to meet him on several occasions. He came out as a humble positive personality with wealth of knowledge and wisdom.
In those days, information on companies was difficult to gather and tabulate. His simple ways to present information on companies was well appreciated by investor population that was reflected in the ever-increasing readership of DSJ. He also forayed in many other areas like Business TV, IT for financial markets, Web, Business Education, etc. He was always ahead of his time. Many of these institutions will continue to thrive even after his demise.
I am sure Shri Padode will continue to inspire us in our journey forward.”
- Ashishkumar Chauhan
MD & CEO, Bombay Stock Exchange Ltd
VijaysinghPadode-ji stands tall amongst people who shaped the equity culture in India. He did this by building and growing Dalal Street Journal into a brand synonymous with the capital markets, and pioneered a publication for mass consumption amongst both amateur and professional investors. The Dalal Street publication has stood the test of time and survived both stock market booms and busts and become a household popular name. Padode-ji will be remembered for this seminal contribution to stock market literacy while also building a large and successful business venture.”
- Raghava Rao
CFO, Amazon India
Long before the stock market established its relevance in the Indian capital market scenario, Shri V.B. Padode, a civil servant turned entrepreneur, imagined the requirement of an investment magazine. He founded the DSIJ group to serve the capital market audience. The capital market will always remember him as a pioneer in the field of research and analysis oriented financial journalism and publishing. Our heartfelt condolences to his family.”
- Vikram Limaye
MD & CEO, National Stock Exchange Ltd
As the year 1985 was coming to an end, Dad and I were burning the midnight oil to send out a marketing letter to prospective subscribers promising a bold, incisive, analytical weekly newsletter to guide them on their stock market investments. On January 11, 1986, the first issue of ‘Dalal Street Weekly’ rolled out from xerox machines and stapled binding. That issue began with a bang with 1200 subscribers, but the issue which brought it into reckoning was the February 23, 1986 issue which predicted a crash! Dad and I worked like a team analyzing annual reports and then he would appreciate my zany headlines: ‘Essar Shipping: Not true not fair!’, ‘Raymond: Dressing people or window dressing?’, ‘Indian Rayon Bonus: Now or Never’ etc. Those days we did not even think when we need to leave from office. He had an eye for detail, powerful sense of observation, the mind of an activist, (which came from his years of training as a tax officer) and doggedness. He was a master negotiator and convinced several to change their line of work and join us at Dalal Street Journal. He was always a bull and foresaw the oncoming stock market boom. He encouraged me as I would come up with one idea after another: whether it was the DSJ Corporate Excellence Awards or DSJ Hindi and Gujarati or the series of international seminars that I commenced under DSJ Class bringing experts like Tom Peters, Al Ries& Jack Trout, John Naisbitt, and many others. He helped and encouraged me make some impactful covers like Anil Ambani with the fuel hose at a petrol pump when we covered Reliance Petroleum IPO or when we had the conservative and strict, GV Ramakrishna pose with boxing gloves on his shoulders. As a team we could do anything. The magazine became a vibrant brand and rose in circulation to become the first among business magazine to cross a circulation of 1,00,000 ABC certified! He helped me challenge my limitations and gave me the freedom to fly.”
Dad, I miss you…
- Pratap Padode
Founder Director, Smart Cities Council India
I came to know Shri Vijay Balchandji Padode sahib personally in 2018 when my son married to Padode sahib’s granddaughter, Kritika. Each time I met Padode sahib, I met a person with immense warmth and a zeal for life. His energy was infectious and his passion for knowledge and learning was always apparent. His keen interest and awareness of politics and the news was admirable.
Padode sahib’s contribution to the financial sector is known to all. In DSIJ, he has left behind a legacy that must be preserved and cherished by all. Padode sahib was a remarkable person. He touched lives at many points. By training he was an income tax man, by choice an enlightened political commentator, by temperament a professor and by his noble deeds a true humanist and a patriot. In each manifestation, he reached the pinnacle.
May we all see his life as an example and learn from everything that he stood for.”
- Dalveer Bhandari
Judge, International Court of Justice,
The Hague, Netherlands
Mr. V. B. Padode was ahead of his times. He is credited for envisaging the need of generating corporate information in the country for the economy to grow. He played a key role in disseminating information to the investors via the print medium. He will always be remembered as one of the persons who started the equity cult in India. May his soul rest in eternal peace Nimesh Kampani Founder, J M Financial Ltd ”
- Nimesh Kampani
Founder, J M Financial Ltd
Mr Padode was a dynamic entrepreneur. He came out of a secure job having caught the fever from early liberalisation moves. We have come a long way today, but it was the contribution of people like him that pushed the wheel of economic reforms decisively forward by educating people about its implications and potential rewards. DSJ gave impetus to entrepreneurship movement in India… MrPadode, RIP.”
- Vallabh Bhansali
On 13th August 2019, a noble soul and a visionary leader Mr. Vijaysingh B. Padode left for his heavenly abode. Mr. Padode will always be remembered for his contribution to the financial market, particularly when it came to information dissemination on various asset classes. Dalal Street Investment Journal will always be a living testimony to the power and vision of one person who saw the future and created source of information and database at a time when none existed.
My first interaction with him was just when the Journal was started in 1986. The interaction revolved around how the Journal could be helpful to the management graduates. Another living testimony to his memory is IFIM Business School which was started in 1995, which is today AACSB accredited and ranked high in India. I remember meeting him again in 2000/2001, when I was invited by IFIM to deliver the Founder’s Day Address. Every time I interacted with him, I found in him a man with ideas and an urge to create institutions that would be different from the crowd and make a difference to the life of an average Indian, be it the investor or the student or the staff that worked in his organizations. The VijayBhoomi University in Karjat will be yet another contribution of late V. B. Padode.
Mr. Padode was a blessed whose three sons continue the journey which he started in 1986.
We in Higher Education have been blessed to have such a visionary leader.”
- Rajan Saxena
Late Vijaysingh B. Padode was known to me since 2016, when he approached to me in the capacity of Minister for Higher and Technical to the Government of Maharashtra for establishing a multi-disciplinary Vijaybhoomi University in village Jamrung, Taluka Karjat, District Raigadh. I remember that he even presented a book written by him on Prime Ministers.
As far as I know, he was a great thinker and keen to bring changes in society, education system, etc. for the development of the country. He started Dalal Street Journal (DSJ) at a time when the country was going through industrial and economic revolution, so as to bring facts and figures to promoters and citizens participating in industrialization. He also founded Institute of Finance and International Management (IFIM) in Bangalore and also had a liking for innovation and adaptation of technology for the mankind.
I personally found him a great human being with devotion and dedication to the country. He left us on 13th August, 2019 and will be remembered in times to come for his contribution to the country. I pray to Almighty God for peace to his soul and strength to his family for bearing this personal loss. ”
- Vinod Tawde
Minister for Higher and Technical Education,
Marathi Bhasha, Cultural Affairs, Minorities
Development and Wakf and Parliamentary Affairs
I had the pleasure of getting to know Shri. V. B. Padode several years ago. I saw at close quarters the expansion of Dalal Street Journal and the allied publications and services. It was a farsighted move to set up the IFIM Management School. We remained friends, taking joy in the growth of the other”
- Ashok H. Advani
Publisher, Business India
Mr Vijaysingh Padode was a visionary and a staunch believer that wealth creation should be democratized and every investor, including retail investors and pensioners, should have access to information, well before the digital age arrived. In an age when there was little access to market news, he resourcefully used mediums such as print, SMSs to connect to the investor community and disseminate the power of knowledge to many. Padodeji was a people’s person and will be missed for his insights and guidance.”
- Ajit Singh
President, Rashtriya Lok Dal
Please accept my sincere condolences on the demise of your father Mr V. B. Padode. He was the legendary editor and founder of DSIJ. He understood that in the new economy, in the new India, information would be power and always strove to inform investors. My thoughts are with your family and you.”
- Ramesh Damani
Founder, Ramesh S. Damani Finance Pvt Ltd
A Leader is the one, who knows the way, goes the way and shows the way"....... Respected Mr. V.B. Padode was one such visionary leader, who was the founder of DSIJ, a pioneering effort much needed at that time for the investors and the market. In the late 80s, many of us including me learnt the basics and intricacies of money markets from DSIJ. Subsequently, his contribution in providing quality education to the society was exemplary and praiseworthy. Such visionary leader can never be forgotten and the WAY shown by him will continue to inspire us.”
- Atul Sobti
Director General, Standing Conference of Public Enterprises,
(SCOPE) (Former CMD BHEL)
I had known Shri Vijaysingh B. Padode after he started the magazine Dalal Street. I would like to compliment him taking the initiative in starting the magazine for investors and particularly capital market users when it was needed most. During that time, the capital market was just in the development stage and there was not enough educative materials available to both investors and corporates. Dalal Street played a very important role in the development of capital markets in India. The investors indeed will therefore be missing Shri Vijaysingh B. Padode who had taken initiative to help and guide investors in the market. I would like to extend my Shradhanjali to him and pray to God to impart peace to his soul.”
- Anand Rathi
Founder & Chairman, Anand Rathi Group