Timeline of Reliance Industries Limited
This is a timeline of Reliance Industries Limited, an Indian multinational conglomerate owing businesses engaged in energy, petrochemicals, textiles, natural resources, retail, and telecommunications.
|Time period||Business phase||More details|
|1958–1966||The trading phase||Reliance Commercial Corporation (RCC) begins its business activities with the export of spices and other items to the Middle East and East Africa. In this phase, the company operates through partnership or proprietorship firms.|
|1966–1977||First textile phase||Reliance organizational features change when first one and then a few other narrowly-held private limited companies are added to the group’s stable. Reliance Textiles is established and a number of textile companies are incorporated into the group. While exports are continued as a means of securing import entitlements, by the mid-seventies manufacturing and sales activity is mainly directed towards the domestic market. The group export earnings even decline, while the dependence on imports for production and expansion activity remains substantial.|
|1977–1990||Switch to petrochemicals||The principal group company becomes an extremely widely held public limited company, with a rapid proliferation in the number of companies in the group.|
|1991-onwards||Liberal India/Expansion into healthcare and telecommunications||RIL business diversifies. In 1992 the company becomes the first Indian company to raise money in global markets. In 1995 the group enters the telecommunications industry. In 1998, RIL enters the healthcare sector. In 2006 RIL enters the organized retail segment through Reliance Retail. Reliance Jio is incorporated in 2007 and launches its services in 2015.|
|1950s||In the late decade, Dhirajlal Hirachand Ambani in India establishes an import-export business, eventually focusing on the textile market, which would become Reliance Textiles.|
|1960s||Reliance Textiles is established in 1964, launching textile manufacturing, and building its first factory.|
|1970s||Reliance goes public in one of the first and largest public offerings in India.|
|1980s||In 1981 The company begins construction of a polyester filament yarn facility in Patalganga. In the decade, Dhirajlal sons Mukesh and Anil start playing a prominent part at RIL, which seeks to produce the chemicals from which the textile yarns were made. In 1985, Reliance Textiles changes its name to Reliance Industries. After Ambani suffers a stroke in 1986, Mukesh and Anil take over day-to-day direction of the company, which launches its first petrochemicals production as part of a vertical integration strategy. In 1987 Reliance Petrochemical Limited is incorporated.|
|1990s||Reliance Refineries is established in 1991, and launches its public offering in 1993. In 1997 Reliance Petroleum launches construction of India's largest oil refinery at Jamnagar. In 1999, the company wins a bid for 12 exploration blocks auctioned off by the Indian government.|
|2000s||In 2002, Reliance locates the largest Indian natural gas field in decades. In the same year, Dhirubhai Ambani dies at age 69. Reliance Petroleum merges into Reliance Industries. Following the acquisition of Germany's Trevira in 2004, RIL becomes the world's leading polyester manufacturer, with production levels topping 25 million meters per year. In 2006, Reliance Industries is broken up between the Ambani brothers. As of 2007 RIL has two major business segments, petroleum refining and marketing, and petrochemicals.|
|2010s||Reliance Jio launches its services in 2015, and becomes the only company in India that is capable of providing 4G services through the country. RIL is ranked 106th on the Fortune Global 500 list of the world's biggest corporations as of 2019.|
|Year||Month and date||Event type||Details|
|1932||Prelude||Dhirajlal Hirachand Ambani is born to a lower middle class schoolteacher's family in Chorwad, Gujarat.|
|1948||Prelude||At the age of 16, instead of becoming a teacher himself as an alernative of not being able to afford university, Ambani travels to the port city of Aden where he begins working as a clerk at a service station. Ambani would remain in Aden for nearly ten years, rising to become Burmah Shell's marketing manager.|
|1958||Early development||In the midst of a worsening political situation in Aden, Dhirajlal returns to India where he starts a yarn trading business from a small 500 square feet office in Mumbai that Ambani rents for two hours per day. Reliance Commercial Corporation is established in partnership with Champaklal Damani, Dhirajlal cousin. Initial exports include spices as well as fabrics.|
|1964||Facility||Dhirajlal establishes a textile factory in Naroda near Ahmenabad.|
|1965||Leadership||Champaklal Damani and Dhirubhai Ambani end their partnership due to differences in business strategies.|
|1966||February 11||Founding||Reliance Textiles Industries Pvt Ltd is founded by Dhirubhai Ambani in Bombay.|
|1966||Facility||A synthetic fabrics mill is established at Naroda in Gujarat.|
|1966||May 8||Subsidiary||Reliance Textile Industries Ltd is incorporated in Karnataka state as a public limited company under the name Mynylon Ltd. to manufacture synthetic blended yarns and fabrics, polyester filament yarn, polyester glass shells and colour TV picture tubes.|
|1966||July 1||Merger||Reliance Textile Industries Ltd is amalgamated with Mynylon Ltd.|
|1969||Incorporation||Reliance Exports is incorporated.|
|1973||May 8||Incorporation||RIL is incorporated as Mynylon Limited in the State of Karnataka.|
|1973||Subsidiary||Reliance group incorporates Vimal Fabrics.|
|1975||June 28||RIL is converted into a public limited company.|
|1975||October 15||Subsidiary||Reliance group incorporates Anil Fabrics, Dipti Textile Industries, and Nina Textile Industries.|
|1975–1976||Financial||Reliance group crosses the Rs. 20 crores (200 million) mark in terms of value of assets.|
|1977||March 11||Renaming||The name of Mynylon Ltd changes to Reliance Textiles Industries Ltd. The company manufactures synthetic blended yarns and fabrics polyester filament yarn polyester staple fiber chemicals and allied products colour TV glass shells and colour TV picture tubes. Mynylon yarns are marketed under various brand names such as Texalit, Textron, Texlene, Poly dyed and polytwist. The fabrics are marketed under the brand name "VIMAL".|
|1977||November||Financial||Reliance launches its Initial public offering, with Dhirubhai Ambani introducing equity cult in India, a new model of business leadership from a base of the broadest public shareholding. The IPO, of 2.8 million shares, raise US$1.8 million, and is considered among the largest in India at the time.|
|1979||Facility||RIL establishes a texturizing/twisting facility.|
|1979||Merger||Sidhpur Mills amalgamates with RIL.|
|1980||Product||Reliance Textiles Industries receives a letter to intent from the manufacture of 10,000 tons per annum of polyester filament yarn. Financial and technical collaboration is finalized with E. I. du Pont de Nemours and Company.|
|1982||Product||Reliance Textiles Industries launches phase-I of the Polyester Filament Yarn (PFY) plant at Patalganga.|
|1982||Leadership||Dhirubhai Ambani elder son Mukesh is entrusted with the task and begins by overseeing the first phase of a polyester filament yarn in Patalganga, Maharashtra.|
|1983||Leadership||Dhirubhai Ambani younger son Anil joins RIL.|
|1985||June 27||Renaming||Reliance Textiles Industries Ltd changes its name to Reliance Industries Ltd.|
|1985||Product||Reliance Textiles Industries enters phase-II of the polyester filament yarn (PFY) plant at Patalganga.|
|1985||September 30||Subsidiary||Devti Fibres Ltd becomes a subsidiary of RIL.|
|1985||Financial||RIL total Assets cross Rs. 1,000 crores.|
|1986||March||Product||RIL commissions a plant for the manufacture of Polyster Staple Fiber in technical collaboration with E. I. du Pont de Nemours and Company.|
|1986||Product||RIL launches a project for the manufacture of linear alkylbenzene in technical collaboration with UOP Processes International Inc.|
|1986||Product||RIL commissions a polyester staple fiber (PSF) plant at Patalganga.|
|1986||Product||RIL starts operating a purified terephthalic acid plant at Patalganga.|
|1987||Subsidiary||Reliance Petrochemical Limited is incorporated.|
|1987||Product||RIL starts operating the linear alkylbenzene (LAB) plant at Patalganga.|
|1988||Product||Linear alkylbenzene (LAB) is sold under the brand name "Relab".|
|1988||Product||RIL starts the paraxylene plant at Patalganga.|
|1988||September 29||Subsidiary||Reliance Industrial Infrastructure is incorporated. Its immediate object is to undertake a project for the laying of two cross country pipelines from Bharat Petroleum refinery at Chembur in Bombay to RIL petrochemicals complex at Patalganga.|
|1988||Financial||RIL sales cross Rs. 1,000 crores mark.|
|1991||Product||RIL commissions phase–I of Hazira Petrochemicals Complex, with the purpose manufacture high-density polyethylene and polyvinyl chloride at Hazira, Gujarat, in technical collaboration with DuPont and [[w:Goodrich Corporation|BF Goodrich}} respectively.|
|1992||Product||RIL commences the production of high-density polyethylene (HDPE) at Hazira.|
|1992||Financial||RIL becomes the first Indian company to raise money in global markets, with its high credit-taking in international markets limited only by India's sovereign rating.|
|1992||Financial||RIL launches the first ever international Global Depositary Receipt offering by an Indian corporate.|
|1993||Product||RIL polyester filament yarn (PFY) division introduces two new products, micro and multi-filament yearn. Several new and customized product ranges are introduced such as ultra-stabilized raffia grade, high flow injection moulding grade and high ESCR blow moulding grade.|
|1993||Financial||RIL pioneers by offering the first ever Euro Convertible Bond issue by an Indian company. |
|1993||Financial||Reliance Petroleum Limited public issues the largest public offering in India.|
|1994||Product||RIL introduces its new product, Linear Low-Density Polyethylene Octene.|
|1994||Financial||RIL offers the second Euro issue of Global Depository Receipts (GDR). " Offered the second Euro issue of GDR."|
|1995||Facility||RIL commissions a new triethylene glycol (TEG) manufacturing factory with a capacity of 10,000 TPA to add value to diethylene glycol (DEG), a by product from its monoethylene Glycol plant. TEG is an import substitute used in oil exploration, lubricants and speciality application.|
|1995||Product||RIL signs a Memorandum of understanding with the Government of Assam for implementation of RAPL (Reliance Assam Petrochemicals Ltd.) for manufacture of ethylene, polyethylene and oxoalchol based on ethylene and propylene products from the gas cracker.|
|1995–1996||Joint venture||RIL enters the telecom industry through a joint venture with NYNEX and promotes Reliance Telecom Private Limited in India.|
|1996||Credit rating||RIL becomes the first private sector company to be rated by international credit rating agencies.|
|1996||Financial||RIL net profit surpasses Rs.1,000 crore (about US$ 317 million), an unparalleled milestone in the Indian private sector.|
|1996–1997||Financial||RIL becomes the first Asian corporate to issue 50 and 100 years bonds in the US debt market.|
|1997||Financial||RIL becomes the first corporate in Asia to issue 50 and 100 years bond in the United States debt market.|
|1998||Product||RIL introduces packaged liquefied petroleum gas in 15 kg cylinders under the brand name Reliance Gas.|
|1998||Business expansion||RIL enters the health-care sector with an initial investment of Rs.100 crore, and becomes joint trustee of Sir Hurkisondas Nurrotumdas Hospital at Charni Road in Mumbai.|
|1998||Recognition||Dhirubhai Ambani is awarded the Dean's Medal by the Wharton School of the University of Pennsylvania, for setting an outstanding example of leadership."|
|1998||Financial||RIL Total Assets cross Rs. 35,000 crore and revenues cross Rs. 14,000 crore.|
|1999||Hydrocarbon exploration||The Indian government auctions off 25 blocks for oilfield exploration. Bids are given in the form of royalty percentage offers. RIL wins 12 of the blocks and promptly sets in place its own team of exploration experts. The investment would quickly pay off with the discovery of natural gas reserves estimated at some 14 trillion cubic feet, the largest natural gas field discovered in India in decades, in the Krishna Godavari Basin in the Bay of Bengal.|
|1999||Facility||RIL commissions the world's largest 1.4 million tons per annum paraxylene (PX) plant at its new integrated petrochemicals complex at Jamnagar.|
|2000||Facility||RIL commissions the world's largest grassroots refinery in Jamnagar.|
|2000||Reliance Clinical Research Services is incorporated|
|2000||Financial||RIL group profits cross Rs. 2,500 crore mark, revenues cross Rs. 20,000 crore mark, and total assets cross Rs. 50,000 crore.|
|2000–2001||Financial||Reliance Industries Ltd. and Reliance Petroleum Ltd. become India's two largest companies in terms of all major financial parameters.|
|2001||January||Subsidiary||Reliance Life Sciences is incorporated. It operates in the biotechnology sector.|
|2001||Financial||RIL revenues cross Rs. 60,000 crore, and becomes largest business group in India.|
|2001||Growth||Reliance Industries and Reliance Petroleum become India's largest companies.|
|2001||Reliance Institute of Life Sciences|
|2001||Reliance Logistics Private Limited|
|2001–2002||Recognition||Dhirubhai Ambani receives The Economic Times Award for Corporate Excellence for Lifetime Achievement.|
|2001–2002||Product||RIL signs a Memorandum of understanding with DuPont Polyester Technologies to license the revolutionary resin technology NG-3 from DuPont. Reliance announces its plan for the expansion of polyethylene terephthalate capacity by 220,000 tons per year.|
|2002||Merger||Reliance Petroleum Limited merge with Reliance Industries. As of date, this is the largest ever merger in India. Reliance Industries becomes the largest private sector company in the country on all major financial parameters including sales, profits, net worth, assets, and exports.|
|2002||Hydrocarbon exploration||RIL announces one of the largest gas discoveries in the world, with a volume in excess of 7 trillion cubic feet, equivalent to about 1.2 billion barrels of crude oil. This is the first ever discovery by an Indian private sector company.|
|2002||July 31||Expansion||RIL launches its own phone service, Reliance Infocomm, which would be later renamed Reliance Communications Limited (popularly, R.Comm). Beginning with Gujarat, the Infocomm revolution would cover thousands of villages and hundreds of cities across India.|
|2002||July||Leadership||Dhirubhai Ambani dies.|
|2002||Recognition||RIL is recognized among ten most creditworthy companies in Asia.|
|2002||Financial||RIL becomes the first Indian private sector company to record Net Profit of over Rs. 1,000 crores in one quarter.|
|2003||Financial||RIL becomes the first Indian private sector company to record net profit of over Rs 4,000 crore in one financial year.|
|2004||Recognition||RIL becomes the first Indian private sector organization to be listed in the Fortune Global 500 list.|
|2004||Hydrocarbon exploration||RIL locates a new gas field in the Bay of Bengal, off the Orissa Coast.|
|2004||Acquisition||RIL acquires the polyester major Frankfurt-based Trevira, which has the capacity of 130000 tons per annum of polyester staple fibers polyester filament yarns and polyester chips.|
|2004||October||Recognition||RIL is recognized as India's Greenest private sector company amongst the private sector with an overall rank of number two in a BT–ACNielsen ORG-MARG survey of shareholder perception.|
|2005||Financial||RIL launches a US$348 million syndicated term loan facility, with aims at replacing existing high cost loans.|
|2005||June||Leadership||A bitter succession dispute takes place caused by conflict between Mukesh and Anil which would eventually lead to a separation in their management responsibilities.|
|2006||Facility||RIL establishes a new export-oriented refinery through its subsidiary Reliance Petroleum Limited (RPL).|
|2006||Expansion||RIL enters the organized retail segment through Reliance Retail with its first Reliance Fresh store in Hyderabad.|
|2006||July 10||Split up||RIL splits in two, following four years of dispute between Mukesh and Anil. Mukesh gets Reliance Industries and Indian Petrochemicals Corporation Limited. The latter walks away from RIL with the conglomerate's telecom, power, natural-resources and financial-services business, which form the core of what would be dubbed Reliance Group.|
|2006||Financial||RIL places US$300 million in US Private Placement Market, becoming the first Indian company to raise money through this route. The company declares dividend of 100%.|
|2007||February 15||Subsidiary||Telecommunications company Reliance Jio is incorporated as a subsidiary of RIL. It operates a national LTE network with coverage across all 22 telecom circles.|
|2007||April 1||Merger||Indian Petrochemicals Corporation Limited (IPCL) merges with RIL. Post merger, RIL’s share capital is expected to increase from Rs 1,393.5 crore to Rs 1,453.6 crore.|
|2007||September||Acquisition||RIL announces agreement to acquire assets of Malaysia’s leading polyester producer, Hualon Corp.|
|2007||October 18||Financial||RIL becomes the first Indian company to breach US$100 billion market capitalization.|
|2007||Financial||RIL revenue crosses Rs. 100,000 crore mark, net Profit crosses Rs. 10,000 crore mark, and total assets cross Rs. 100,000 crore mark, unparalleled in the Indian private sector. Exports cross Rs. 60,000 crore mark, 12% of India's total exports. RIL declares Dividend of 110%. Payout of Rs 1,440 Crore, highest in the Indian private sector.|
|2008||April||Product||RIL signs gas sales and purchase agreement with the customers in power sector for supply of natural gas to be produced from the KG-D6 block.|
|2008||Financial||RIL revenue crosses Rs. 130,000 crore mark, net profit crossed Rs. 15,000 crore mark and Total Assets crossed Rs. 140,000 crore mark, unparalleled in the Indian private sector. Exports cross Rs. 80,000 crore mark, 13.4% of India's total exports. RIL declares Dividend of 130%. Payout of Rs 1,631 Crore, highest in the Indian private sector.|
|2008||Financial||RIL reaches an aggregated worth of approximately US$ 125 billion, around a hundred direct and many more affiliated companies, more than 80,000 global employees, and is structured as 'several hundred investment companies, satellite companies and trusts.|
|2009||April 2||Hydrocarbon production||RIL commences production of hydrocarbons in its KGD6 block in the Krishna Godavari Basin with the production of sweet crude of 420 API.|
|2009||Recognition||American global management consulting firm A T Kearney lists RIL as one of the Top 25 Global Champion for 2009 which manages to outperform the competition in the midst of global financial meltdown.|
|2010||April||RIL commissions a 1 MW solar Photo Voltaic power plant at Thyagaraj Sports Complex in New Delhi.|
|2010||June||Acquisition||RIL acquires 95% stake in broadband service provider Infotel Broadband for Rs 4,800 crore.|
|2010||August||Acquisition||RIL acquires the equity shares of EIH Ltd representing 14.12% from Oberoi Hotels and certain other promoters at a total cost of Rs 1021 crore.|
|2010||December||Joint venture||RIL enters into a joint venture agreement with Russian petrochemical company Sibur for the production of butyl rubber in India.|
|2010||Recognition||RIL is ranked 68th in the Financial Times Global 500 list of the world's largest companies (up from previous year's 75th rank).|
|2011||February||Partnership||RIL enters into a strategic partnership with British Petroleum which comprises BP taking a 30% stake in 23 oil and gas production sharing contracts that the company operates in India for a consideration of US$ 7.20 billion and the formation of a 50:50 joint venture between the two companies for the sourcing and marketing of gas in India.|
|2011||March||Joint venture||RIL and D E Shaw Group agree to establish a joint venture to build a financial services business in India, incorporating the D E Shaw Group's investment and technology expertise with RIL's operational knowledge and extensive presence across India to offer a comprehensive array of financial services to the Indian marketplace. |
|2011||April||Hydrocarbon exploration||RIL announces a rich natural gas discovery in the very first well it drilled on a deep sea block in the Cauvery basin.|
|2011||June 10||Acquisition||RIL and its associate Reliance Industrial Infrastructure Ltd enter into an agreement with Bharti Enterprises for acquiring Bharti's shareholding of 74% in Bharti Axa Life Insurance Co Ltd and Bharti Axa General Insurance Co Ltd. |
|2011||September||Partnership||Reliance Security Solutions partners with Siemens to jointly develop homeland security solutions for safe, secure and smart cities and highways in India.|
|2011||November||Joint venture||RIL and British Petroleum announce the incorporation of India Gas Solutions Pvt Ltd, an equal-equity joint venture aimed at focusing on global sourcing and marketing of natural gas in India.|
|2012||January||Financial||RIL announces India's largest share buy-back program comprising buyback of up to 120,000,000 fully paid up equity shares of Rs. 10 each.|
|2012||February||Joint venture||RIL and Russian petrochemicals company Sibur agree to form a joint venture named Reliance Sibur Elastomers Pvt Ltd to produce 100000 tons of butyl rubber per year in Jamnagar. RIL's share in the JV would total 74.9% with Sibur accounting for the rest.|
|2012||March||Recognition||RIL becomes the first Indian company to be certified as "Responsible Care Company" under stringent standards of American Chemistry Council. RIL's Petrochemical Business wins this accolade for its robust management system.|
|2012||May||Contract||RIL selects American firm Fluor Corporation to perform project management services for its projects being executed at its Jamnagar refining and petrochemical complex in Gujarat.|
|2013||January||Renaming||RIL owned Infotel Broadband Services is renamed Reliance Jio Infocomm Limited. The subsidiary is the only company in India that is capable of providing 4G services through the country because of its 20 MHz pan-India spectrum.|
|2014||May 29||Acquisition||RIL acquires control in Network18 Media & Investments Limited (NW18) including its subsidiary TV18 Broadcast Ltd.|
|2014||December 9||Joint venture||RIL announces a joint venture with China's Shandong Ruyi for RIL's textiles business which operates under the Vimal brand.|
|2014||Financial||Reliance Retail becomes the largest retailer by revenue in the year.|
|2015||December||Recognition||RIL wins 'energy Oscars' Platts Global Energy Award for robust corporate social responsibility role.|
|2015||December 27||Service||Reliance Jio launches its services to the group’s 80,000-odd employees and close partners.|
|2016||April||Infrastructure||Reliance Jio announces the launch of the Bay of Bengal Gateway (BBG), a 8,100 km cable system expected to provide high speed connectivity to South East Asia and the Middle East. The network would then link to Europe, Africa and Far East Asia via interconnection with existing cable systems.|
|2016||September||Service||Reliance Jio Infocomm announces the commencement of telecom services with `Jio Welcome Offer'.|
|2016||November 17||Partnership||RIL and General Electric announce the signing of a global partnership agreement in the Industrial internet of things (IIOT) space to provide Industrial IOT solutions to customers in oil & gas fertilizer power healthcare telecom and other industries.|
|2017||September||Acquisition||RIL wins the bid to acquire the assets of Kemrock Industries and Exports Limited of Vadodara (Gujarat) as a part of its efforts to enter the composites business.|
|2017||Financial||Reliance Retail crosses US$5 billion revenue mark.|
|2017||June||Partnership||RIL and British Petroleum announce joint development of the `R-Series' deep water gas fields in Block KGD6 offshore the east coast of India.|
|2018||Ranking||RIL is ranked 148th on the Fortune Global 500 list of the world's biggest corporations as of 2018.|
|2019||March||Leadership||According to Forbes magazine, Mukesh Ambani is the richest man in Asia and the 13th richest person in the world.|
|2019||October||Financial||RIL becomes the first Indian firm to cross Rs 9 lakh crore market valuation mark.|
|2019||Recognition||RIL ranks 106th on the Fortune Global 500 list of the world's biggest corporations as of date.|
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