As of 17th July 2020, Mukesh Ambani was the world’s 6th richest person with a wealth of $71.2bn. While companies across the world are combating the Coronavirus, RIL bagged 14 investments worth more than ₹1 lakh crores in just 14 weeks. RIL became the 1st Indian firm to cross ₹9 lakh crores valuation – it is currently valued at ₹12 lakh crores. Moreover, Jio will now launch 5G next year and is working on a low-cost 5G phone with Google. But do you how Reliance became one of the world’s largest conglomerate? Let’s have look at its timeline.
Crux of the Matter
Timeline Early Days
1957 – Dhirubhai Ambani returned to India from Yemen
1957 – Dhirubhai Ambani started a yarn trading business at Mumbai
1960s – Dhirubhai Ambani and Champaklal Damani established Reliance Commercial Corporation
1965 – Partnership ended
1966 – Established Reliance Textiles Engineers Pvt. Ltd. in Maharashtra
1966 – Established a synthetic fabrics mill in the same year at Naroda in Gujarat
1973 – Became Reliance Industries Limited
1975 – Expanded its business into textiles
1977 – Reliance Textile Industries’ IPO creates history by introducing the equity cult in India.
1979 – Textiles company Sidhpur Mills was amalgamated with the company
1980 – Expanded its polyester yarn business with a financial and technical collaboration with E. I. duPont de Nemours & Co., U.S. Growing In The 90s
1991 – The Hazira plant laid the foundation for Reliance becoming the world’s largest integrated producer of polyester
1993 – Collected overseas funds through a global depositary issue of Reliance Petroleum
1996 – Became the first private sector company in India to be rated by international credit rating agencies
1995/96 – entered Telecom industry
1998/99 – RIL introduced Reliance Gas
1998–2000 – Established world’s largest refinery integrated petrochemical complex at Jamnagar in Gujarat
2001-02 – Merged Reliance petroleum into Reliance Industrial Ltd.
2003 – Purchased a majority stake in Indian Petrochemicals Corporation Ltd. (IPCL)
2004-05 – Demerged its investments in power generation and distribution, financial services and telecommunication services into four separate entities. Brothers Mukesh and Anil Ambani separate. RIL Marking Its Presence
2006 – Launched ‘Reliance Fresh’ Retail store chain
2010 – Reliance entered the broadband services market with the acquisition of Infotel Broadband Services Limited
2011 – RIL and D E Shaw Group agree to establish a joint venture to build a financial services business in India
2011 – Acquisitions of Bharti Axa Life Insurance Co Ltd and Bharti Axa General Insurance Co Ltd.
2013 – RIL owned Infotel Broadband Services was renamed Reliance Jio Infocomm Limited
2014 – Acquired control in Network18 Media & Investments Limited (NW18) including its subsidiary TV18 Broadcast Ltd
2015 – LYF is established by Reliance Jio as a mobile handset company. Headquartered in Mumbai
2016 – Reliance Jio Infocomm announced the commencement of telecom services with Jio Welcome Offer
2017 – RIL and British Petroleum announced Joint development of R-Series’ deepwater gas fields in Block KGD6 offshore the east coast of India
2018 – RIL is ranked 148th on the Fortune Global 500 list of the world’s biggest corporations as of 2018
2019 – RIL becomes the first Indian firm to cross Rs 9 lakh crore market valuation mark
Latest Announcements By RIL Jio
Jio Mart online grocery platform and WhatsApp working closely for local Kirana stores to come online.
Jio TV+ to host 12 OTT platforms like Netflix, Amazon Prime Video, Disney+, Youtube, Hotstar, etc.
Jio Meet set to replace Zoom, Google Meet, etc.
Jio Embibe is its new ed-tech platform.
Jio HealthHub – a healthcare and fitness app.
Curiopedia
The Polyester Prince is an unauthorized biography of Indian business tycoon and Reliance Industries founder Dhirubhai Ambani. The book was never published in India and was banned in it.
Football Sports Development Ltd is an Indian company established to operate the Indian Super League, the association football franchise-based league. The company is run as a subsidiary to Reliance with Nita Ambani as its chairperson.
E. I. du Pont de Nemours and Company, commonly referred to as DuPont, was an American company that was founded in 1802 in Wilmington, Delaware, as a gunpowder mill by French-American chemist and industrialist Éleuthère Irénée du Pont. In 2014, DuPont was the world’s fourth-largest chemical company based on market capitalization and eighth-largest based on revenue.
Curated Coverage
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