Timeline of Reliance Industries Limited
This is a timeline of Reliance Industries Limited.
|Time period||Development summary|
|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. 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.|
|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.|
|2010s||The company 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||Dhirajlal Hirachand Ambani is born to a lower middle class schoolteacher's family in Chorwad, Gujarat.|
|1948||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||In the midst of a worsening political situation in Aden, Ambani 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 and initial exports include spices as well as fabrics.|
|1964||Dhirajlal establishes a textile factory in Naroda near Ahmenabad.|
|1966||February 11||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||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||Reliance Textile Industries Ltd, is amalgamated with Mynylon Ltd.|
|1973||May 8||RIL is incorporated.|
|1975||June 28||RIL is converted into a public limited company.|
|1977||March 11||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||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||RIL establishes a texturizing/twisting facility, as well as plants for Polyester Staple Fiber (PSF) in 1986 and for Linear Alkyl Benzene (LAB) & Purified Terephthalic Acid (PTA) in 1988. "|
|1979||"During the year Sidhpur Mills Co. Ltd which has an installed capacity of 38,368 spindles and 490 looms was amalgamated with the company. In terms of the scheme of amalgamation, the company was to issue and allot for every one equity share of Rs. 100 each of Sidhpur, 2 equity shares of Rs.10 each and one bond of Rs.80 of the company. "|
|1980||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.|
|1985||June 27||Renaming||Reliance Textiles Industries Ltd changes its name again, this time 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. "Reliance commissioned Polyester Staple Fiber (PSF) plant at Patalganga."|
|1986||Product||RIL starts operating a purified terephthalic acid plant at Patalganga.|
|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||Financial||RIL sales cross Rs. 1,000 crores mark.|
|1991||"Reliance commissioned phase–I of Hazira Petrochemicals Complex – consolidated its position in polyesters and entered into attractive polymers business – started VCM and PVC plants." "The Hazira petrochemical plant was commissioned in 1991-92"  "In 1991-92, RIL commissioned a petrochemicals unit to manufacture HDPE and PVC at Hazira, Gujarat, in technical collaboration with DuPont and BF Goodrich respectively." "Reliance commissioned phase-I of Hazira Petrochemicals Complex - consolidated its position in polyesters and entered into attractive polymers business - started VCM and PVC plants." "Reliance’s backward integration journey continues. The Hazira plant coming on stream in 1991 laid the foundation for Reliance becoming the world’s largest integrated producer of polyester."|
|1992||Product||RIL commences the production of high-density polyethylene (HDPE) at Hazira.|
|1992||Financial||RIL launches the first ever international Global Depositary Receipt offering by an Indian corporate.|
|1993||Product||"The polyester filament yarn (PFY) division introduced two new products viz., Micro and multi-filament yearn. Several new and customized product range was introduced such as ultra-stabilized raffia grade, high flow injection moulding grade and high ESCR blow moulding grade."|
|1993||RIL pioneers the first ever Euro Convertible Bond issue by an Indian company. "Offered the first Euro Convertible bond issue "|
|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||"Reliance offered the second Euro issue of GDR" " Offered the second Euro issue of GDR."|
|1995||"During the year company commissioned a new Triethylene Glycol manufacturing factory with a capacity of 10,000 TPA to add value to Diethylene Glycol (DEG), a by product from its Monoethylene Glucol plant. TEG is an import substitute used in oil exploration, lubricants and speciality application."|
|1995||"During the year company signed a Memorandum of Understanding with the Govt. of Assam for implementation of RAPL (Reliance Assam Petrochemicals Ltd.) for manufacture of 3,00,000 TPA of ethylene, 3,00,000 TPA of Polyethylene and 65,000 TPA of Oxoalchol based on ethylene and propylene products from the gas cracker."|
|1995||"Net profit crossed the Rs 1,000 crore mark (Rs 1,065 crores or US$ 338 million), unparalleled in the Indian Private sector"|
|1995–1996||Joint venture||EIL enters the telecom industry through a joint venture with NYNEX and promotes Reliance Telecom Private Limited in India.|
|1996||"Reliance became the first private sector company to be rated by international credit rating agencies. S&P rated BB+, stable outlook, constrained by the Sovereign Ceiling. Moody's rated Baa3, Investment grade, constrained by the Sovereign Ceilings." "Reliance became the first private sector company to be rated by international credit rating agencies. S&P rated BB+, stable outlook, constrained by the Sovereign Ceiling. Moody's rated Baa3, Investment grade, constrained by the Sovereign Ceilings"|
|1996||RIL net profit surpasses Rs.1,000 crore (about US$ 317 million), an unparalleled milestone in the Indian private sector.|
|1996–1997||RIL becomes the first Asian corporate to issue 50 and 100 years bonds in the US debt market.|
|1996–1997||RIL becomes the first corporate in Asia to issue 50 and 100 years bond in US debt market"|
|1997||RIL becomes the first corporate in Asia to issue 50 and 100 years bond in US debt market.|
|1998||Product||RIL introduces packaged liquefied petroleum gas in 15 kg cylinders under the brand name Reliance Gas.|
|1998||"For the first time Reliance Industries is entering the health-care sector with an initial investment of Rs.100 crore. It has become joint trustees of Sir Hurkisondas Nurrotumdas Hospital at Charni Road in Mumbai."|
|1998||"Reliance completed phase-II expansion of Hazira Petrochemicals Complex including world's largest multifeed cracker, PET plant, MEG plant, PTA plant, PE plant"|
|1998||"Dhirubhai Ambani was awarded the Dean's Medal by the Wharton School, University of Pennsylvania, USA, for setting an outstanding example of leadership."|
|1998||"Total Assets cross Rs. 35,000 crore (Rs. 35,445 crore) and Revenues cross Rs. 14,000 crore (Rs. 14,115 crore)."|
|1999||"Yet the petroleum industry remained the company's major growth focus. In 1999, the Indian government auctioned off 25 blocks for exploration; bids were given in the form of royalty percentage offers. Reliance won 12 of the blocks and promptly set in place its own team of exploration experts, backed by oilfield services from Halliburton and Schlumberger. Reliance's investment quickly paid 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||"In 1999-2000 RIL commissioned the world's largest 1.4 million tonnes per annum Paraxylene (PX) plant at its new integrated petrochemicals complex at Jamnagar which was planned at 1997-98. "|
|1999–2000||"Jamnagar Petrochemicals and integrated refinery complex commissioned. World's largest grassroots refinery - 27 million tpa refinery, the 5th largest in the world. World's largest PX Plant of 1.4 million tpa. World's largest PP Plant of 0.6 million tpa. World-class product handling, storage, and despatch facilities."|
|2000||Facility||RIL commissions the world's largest grassroots refinery in Jamnagar.|
|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||Financial||RIL revenues cross Rs. 60,000 crore, and becomes largest business group in India.|
|2001||RIL raises US$750 million syndicated loan–deal named capital market deal of the year by IFR Asia.|
|2001–2002||Recognition||Dhirubhai Ambani receives The Economic Times Award for Corporate Excellence for Lifetime Achievement.|
|2001–2002||"Reliance signed MOU with DuPont Polyester Technologies to license the revolutionary resin technology NG-3 from DuPont. Reliance announced its plan for the expansion of PET capacity by 220,000 tonnes per year."|
|2002||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||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||"Reliance Infocomm to launch various telecom services on 28th December - beginning with Gujarat, the Infocomm revolution will cover thousands of villages and hundreds of cities across the country. Reliance Infocomm will become a major catalyst for changing the face of India and improving the quality of life of Indians." "In 2002, Reliance enters the Infocomm business and brings about a revolution in mobile telephony in India. In 2005, Reliance makes a strategic decision to reorganise its businesses through a demerger. Power generation and distribution, financial services and telecommunication services are demerged into separate entities." "Also in 2002, Reliance launched a diversification effort, targeting the telecommunications sector, especially the fast-growing cellular phone market. Reliance set up its own phone service, Reliance Infocomm, in that year."|
|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||RIL locates a new gas field in the Bay of Bengal, off the Orissa Coast.|
|2004||"Reliance emerges 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 published in Business Today's October issue."|
|2004||"Reliance Industries concludes re–pricing of $687.50 million Syndicated Term Loan facilities."|
|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||"Reliance signs EUR 116.2 million Export Credit Agency (ECA) backed Buyer's Credit Facility provided by Deutsche Bank. RIL avails an ECA cover for the first time in 22 years."|
|2005||RIL launches a US$348 million syndicated term loan facility, with aims at replacing existing high cost loans.|
|2006||Facility||RIL establishes a new export-oriented refinery through its subsidiary Reliance Petroleum Limited (RPL).|
|2006||RIL enters the organized retail segment through Reliance Retail with its first Reliance Fresh store in Hyderabad.|
|2006||July 10||Reliance Group is founded.|
|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||Reliance Jio launches 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||Reliance Industries becomes the first Indian company to breach US$100 billion market capitalization.|
|2007||" Revenue crossed Rs. 100,000 crore mark (Rs. 118,354 crore, US$ 27 billion), Net Profit crossed Rs. 10,000 crore mark (Rs. 11,943 crore, US$ 2.75 billion) and Total Assets crossed Rs. 100,000 crore mark (Rs. 117,353 crore, US$ 27 billion), unparalleled in the Indian Private sector. Exports crossed Rs. 60,000 crore mark (Rs. 66,627 crore, US$ 15 billion), 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||"In April 2008 the company signed gas sales and purchase agreement (GSPA) with the customers in power sector for supply of natural gas to be produced from the KG-D6 block."|
|2008||"Revenue crossed Rs. 130,000 crore mark (Rs. 139,269 crore, US$ 34.7 billion), Net Profit crossed Rs. 15,000 crore mark (Rs. 19,458 crore, US$ 4.9 billion) and Total Assets crossed Rs. 140,000 crore mark (Rs. 149,839crore, US$ 37.3 billion), unparalleled in the Indian Private sector. Exports crossed Rs. 80,000 crore mark (Rs. 83,492 crore, US$ 20.8 billion), 13.4% of India's total exports. RIL declares Dividend of 130%. Payout of Rs 1,631 Crore, highest in the Indian Private Sector."|
|2009||April 2||"From April 2 2009 the company commenced production of hydrocarbons in its KGD6 block in the Krishna Godavari basin with the production of sweet crude of 420 API." "In 2009, Reliance commences production of hydrocarbons in its KGD6 block - against all odds - in just over two years of its discovery, making it the world’s fastest green-field deepwater oil development project. With this development, Reliance completes an unprecedented backward integration journey."|
|2009||"A T Kearney lists RIL as one of the Top 25 Global Champion for 2009 which managed 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||".In June 2010 the company entered into an agreement to acquire asubstantial stake in Infotel Broadband Services (P) Ltd which emerged as asuccessful bidder in all the 22 circles of the auction for Broadband Wireless Access (BWA) Spectrum conducted by the DOT."|
|2010||August||"In August 2010 the company through their subsidiary Reliance Industries Investment and Holding Pvt Ltd acquired the equity shares of EIH Ltd representing 14.12% from Oberoi Hotels Pvt Ltd and certain other promoters at a total cost of Rs 1021 crore."|
|2010||December||"In December 2010 the company entered into a joint venture agreement with Russian petrochemical company SIBUR for the production of butyl rubber in India."|
|2010||"Revenue crossed Rs. 2,00,000 crore mark (Rs. 2,00,400 crore, US$ 44.6 billion), Net Profit crossed Rs. 16,000 crore mark (Rs. 16,236 crore, US$ 3.6 billion) and Total Assets crossed Rs. 2,50,000 crore mark (Rs. 2,51,006 crore, US$ 55.9 billion), unparalleled in the Indian Private sector. Exports crossed Rs. 1,00,000 crore mark (Rs. 1,10,176 crore, US$ 24.5 billion), 14.5% of India's total exports. RIL declares Dividend of 70%. Payout of Rs 2,084 Crore, one of the highest in the Indian Private Sector."|
|2010||"RIL is ranked 68th in 2010, in the Financial Times' FT Global 500 list of the world's largest companies (up from previous year's 75th rank)."|
|2011||January||"In January 2011 the company's wholly owned subsidiary Reliance Ventures Ltd entered into an agreement with Infrastructure Leasing and Financial Services Ltd whereby IL&FS will become a strategic partner and co-promoter of a project which intends to develop a model economic township and other infrastructure facilities at Jhajjar in Haryana."|
|2011||February||". In February 2011 the company entered into a strategic partnership with BP 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 USD 7.20 billion and the formation of a 50:50 joing venture between the two companies for the sourcing and marketing of gas in India. "|
|2011||March||" In March 2011 the company and D E Shaw Group agreed to establish a joint venture to build a leading financial services business in India. This joint venture will incorporate the D E Shaw Group's investment and technology expertise with the company's operational knowledge and extensive presence across India to offer a comprehensive array of financial services to the Indian marketplace."|
|2011||April||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||Reliance Security Solutions Ltd, a subsidiary of the company Siemens Ltd, sign a memorandum of understanding to jointly develop Homeland Security Solutions for 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.|
|2011||Financial||"Revenue crossed Rs. 2,50,000 crore mark (Rs. 2,58,651 crore, US$ 58.0 billion), Net Profit crossed Rs. 20,000 crore mark (Rs. 20,286 crore, US$ 4.5 billion) and Total Assets crossed Rs. 2,80,000 crore mark (Rs. 2,84,719 crore, US$ 63.8 billion), unparalleled in the Indian Private sector. Exports crossed Rs. 1,40,000 crore mark (Rs. 1,46,667 crore, US$ 32.9 billion), 13.4% of India's total exports. RIL declares Dividend of 80%. Payout of Rs 2,385 Crore, one of the highest in the Indian Private Sector."|
|2012||January||"In January 2012, RIL announced India's largest share buy-back programme comprising buyback of up to 120,000,000 fully paid up equity shares of Rs. 10 each, at a price not exceeding Rs. 870 per equity share, payable in cash, up to an aggregate amount not exceeding Rs. 10,440 crore from the open market through stock exchange."|
|2012||February||" Ltd.In February 2012 the company and SIBUR have agreed to form a joint venture named Reliance Sibur Elastomers Pvt Ltd to produce 100000 tons of butyl rubber per year in Jamnagar India. " "In February 2012, RIL and SIBUR formed a JV to manufacture butyl rubber in India with targeted production capacity of 100,000 tonnes per annum. This JV will be the fourth largest producer of butyl rubber globally. RIL's share in the JV will total 74.9% while SIBUR will account 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||"Reliance Industries LimitedNSE -1.10 % (RIL) has selected Irving, Texas based Fluor Corporation to perform project management services for its projects being executed at its Jamnagar refining and petrochemical complex in Gujarat."|
|2013||"RIL signed a US$ 2 billion equivalent loan with nine banks covered by Euler Hermes Deutschland AG. The loan will be primarily used to finance goods and services procured from German suppliers as part of RIL's petrochemicals expansion projects at Jamnagar, Hazira, Silvassa and Dahej in India."|
|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||"Reliance Retail becomes the largest retailer by revenue in 2014, fulfilling the aspirations of millions across the country and bringing international experiences at affordable prices to every corner of India."|
|2015||December||Recognition||RIL wins 'energy Oscars' Platts Global Energy Award for robust corporate social responsibility role.|
|2016||April||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||Subsidiary||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||RIL is ranked 148th on the Fortune Global 500 list of the world's biggest corporations as of 2018.|
|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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