Introduction
Harshad Mehta was one of the most influential and controversial figures in India’s financial history. Known as the “Big Bull of Dalal Street,” he played a major role in India’s stock market boom of the early 1990s. His sharp market strategies, bold investment style, and meteoric rise made him a symbol of ambition—while the 1992 securities scam turned him into one of the most debated personalities in Indian finance.
Harshad Mehta Biography / Wiki
| Category | Details |
|---|---|
| Full Name | Harshad Shantilal Mehta |
| Date of Birth | July 29, 1954 |
| Birthplace | Paneli Moti, Rajkot, Gujarat, India |
| Nationality | Indian |
| Profession | Stockbroker, Investor |
| Known As | Big Bull of Dalal Street |
| Active Years | 1980s – 1992 |
Early Life
Harshad Mehta spent his childhood in Gujarat before his family moved to Mumbai in search of better opportunities. Coming from a modest background, he worked various small jobs before entering the world of finance.
Childhood Traits
Extremely ambitious
Quick learner
Confident personality
Strong interest in numbers
Competitive mindset
His early environment shaped his hunger for success.
Family & Background
Family Details
Father: Shantilal Mehta – small businessman
Mother: Rasilaben Mehta – homemaker
Siblings: Brothers including Ashwin Mehta
The family faced financial challenges, which later motivated Harshad to build wealth and status.
Education
Harshad studied at Holy Cross Byron Bazar School and later completed his B.Com from Lala Lajpatrai College, Mumbai.
His sharp understanding of numbers and markets developed during these years.
Early Career
Before entering the stock market, Harshad worked in various jobs including selling cement, sorting diamonds, and working as a clerk.
Eventually, he joined a brokerage firm as a jobber, which opened the doors to Dalal Street.
Stock Market Career – Rise of the Big Bull
Harshad Mehta quickly climbed the ranks in the Bombay Stock Exchange due to his aggressive trading style and ability to predict market trends.
Key Highlights of His Rise
Started his own firm GrowMore Research and Asset Management
Became known for bold stock purchases
Influenced market sentiment heavily
Played a major role in the early 1990s bull run
His confidence and financial strategies earned him the title “Big Bull.”
Popular Stocks Backed by Harshad Mehta
Harshad was known for driving prices of certain companies to record levels.
Famous Stocks
ACC
Tata Iron and Steel
Videocon
Sterlite
Apollo Tyres
His influence on the market was huge, causing massive rallies.
Scam 1992 – The Downfall
Harshad Mehta’s career took a dramatic turn when the 1992 securities scam was exposed.
He was accused of exploiting loopholes in the banking system to divert massive funds into the stock market.
Key Points of the Scam
Misuse of bank receipts
Illegal transfer of funds
Artificial inflation of stock prices
Estimated scam amount: over ₹4,000 crore (approx.)
The revelation shook the Indian financial system and led to major regulatory reforms.
Arrest and Legal Troubles
Harshad Mehta was arrested and faced multiple charges under various financial laws.
He spent time in jail, fought several legal cases, and remained under intense scrutiny until his death.
Death
Harshad Mehta passed away on December 31, 2001, due to a heart attack while in custody.
He was 47 years old.
Net Worth
Harshad Mehta’s exact net worth varied due to legal disputes, but at the peak of his career, he was believed to control assets worth hundreds of crores.
Estimated Net Worth (Peak Years)
Around ₹1,000–3,000 Crore (Approx.)
This includes stocks, properties, and market influence.
Impact & Legacy
Harshad Mehta remains one of the most discussed personalities in Indian financial history.
What He Represents
Symbol of ambition and risk-taking
A mastermind of stock market strategies
A key figure behind major financial reforms
A controversial yet unforgettable name in Dalal Street
His life story continues to fascinate investors, students, and market enthusiasts.
Personal Life
Wife: Jyoti Mehta
Son: Atur Mehta
Despite fame and wealth, Harshad’s personal life went through long legal and financial struggles due to the scam.
Frequently Asked Questions
Why is Harshad Mehta called the Big Bull?
Because of his ability to create massive bullish rallies in the stock market.
What was the 1992 scam?
A securities fraud involving misuse of banking loopholes and large-scale fund diversion.
What was Harshad Mehta’s net worth?
At his peak, approximately ₹1,000–3,000 crore.
When did Harshad Mehta die?
He died on December 31, 2001.
Disclaimer
This biography is an independently written informational article created solely for educational and informational purposes. It is not connected to, endorsed by, or affiliated with Harshad Mehta or his representatives. All information has been uniquely rewritten in a human-like tone using publicly available details. No rights, claims, or associations with any individual or organization are implied.
