Diversified conglomerate Reliance Industries Ltd. (RIL) has a history dating back to 1960s, when a young man named Dhirubhai Ambani dared to dream big. After trying his hand at commodities trading, Ambani started the first Reliance textile mill in 1966. In fact, RIL was initially known as a textile industry group, known for clothing brands such as Vimal. The firm made a big leap forward in 1991 when it entered petrochemicals and refining business.
One of the major milestones was recorded in the year 1977 when Reliance floated a very successful IPO. This was a strategic move that would allow Reliance to secure the necessary funding that would facilitate the expansion of the company. Over the years, the company made forays into media, retail, and telecommunication businesses which established it as the leading light in the Indian corporate sector.
About Reliance group of industries
Currently, Reliance group is present in oil and gas, retail, media and entertainment, and telecommunications sectors, serving over 250 million consumers, fulfilling the dream of Dhirubhai Ambani, the founder of Reliance. The Mumbai-headquartered Reliance Industries Ltd. had a net worth of above Rs. 7.4 trillion in financial year 2014.
In short, the Reliance group of companies has redefined entrepreneurship in this diverse country. Through its innovative product portfolio and solutions, the company touches the lives of millions of Indians every single day.
An overview of the Reliance group history
RIL is one of the largest conglomerates that operaties in India and abroad. Dhirubhai Ambani, founder of Reliance, started manufacturing polyester, which formed the basis of Reliance Industries. The next year, Ambani also built on its previous success by venturing into the synthetic textiles business. The inauguration of Reliance company was done on the 8th of May in 1973 and it was officially known as Reliance Industries Limited. The company went public in 1977, the first Indian firm to do so.
By 1999, Reliance had established one of the largest petrochemical refinery complexes in Jamnagar, Gujarat. Throughout the 2000s, Reliance implemented a clear diversification strategy, venturing into telecom, energy, retail, and broadband. After the company split between the Ambani brothers, Mukesh Ambani-led Reliance Industries made its boldest move when it forayed into the crowded Indian telecom sector with the launch of Jio Infocomm in 2016.
Reliance Group: A historical timeline
A strong focus on innovation at the formative stage of its growth, leveraging the best technology, and forming strategic partnerships with other global players characterized Reliance Industries’ initial business development. A broad timeline of Reliance company’s history is as follows.
1966: Reliance Textiles Industries Pvt Ltd was formed in Mumbai on February 11, 1966. In the same year, a synthetic fabric plant was built in Gujarat’s Naroda.
1977: Reliance Industries launched India’s first initial public offering (IPO).Â
1986: Built Patalganga PTA factory. Alongside, Reliance commissioned a Polyester Staple Fibre (PSF) factory.
1991: Reliance entered the petrochemicals business by launching a plant at Hazira, Gujarat.
1993: Incorporation of Reliance Petroleum Ltd.
1996: The first private corporation to receive a rating from a global credit rating agency. Net profit surpasses one billion rupees.
1997: First Asian company first to issue bonds with terms of 50 and 100 years in the US financial market.
2000: Reliance Group of companies establish Reliance Power Ventures, a wholly-owned subsidiary.Â
2005: Reliance split between brothers, Anil and Mukesh Ambani. Mukesh keeps control of Reliance Industries.
2010: Through joint venture agreements, Reliance ties up with Atlas Energy, Pioneer Natural Resources, and Carrizo Oil & Gas in the United States.
2016: Launch of Reliance Jio, marking the Reliance group’s entry into Indian telecom sector.
2021: Reliance announces plan to invest in renewable energy.
List of major subsidiaries of Reliance
Some of Reliance Industries’ well-known subsidiaries are listed below:
Jio Financial Services
Jio Financial Services Ltd., originally a subsidiary of Reliance Industries Ltd, was listed in August 2023.
Jio Platforms Limited
It ranks well in the list of Reliance subsidiary firms. It is the umbrella organisation for the group’s digital projects and telecommunications assets. All of the Reliance group’s digital business assets, including Reliance Jio Infocomm Ltd., are owned by this entity. In turn, Jio Infocomm owns the Jio connectivity division, which consists of mobile, internet, and enterprise services in addition to other digital assets.
Reliance Retail Ventures Limited
Reliance Retail is the retail initiative of Reliance Industries Limited. As the largest retailer in India, it offers various brands such as Reliance Fresh, Reliance Footprint, Reliance Time Out, Reliance Wellness, Reliance Trends, Reliance Autozone, Reliance Mart, Reliance iStore, and so on. Under the Reliance Retail brand are Reliance Jewels, Reliance Home Kitchen, and Reliance Home Kitchens.
Reliance Industrial Infrastructure Limited
Reliance Industrial Infrastructure Limited, a Reliance group company, is primary engaged in the establishment and management of industrial infrastructure. The business also engages in associated operations such as leasing and offering services linked to data processing and computer software.
Reliance Petroleum Limited
Reliance Petroleum Ltd, a subsidiary of Reliance Industries, got listed in May 2006. The Reliance group of companies produces a wide range of petroleum products like aviation fuel, diesel, and petrol.
Reliance Life Sciences Limited
Reliance Life Sciences is a diverse and integrated biotechnology initiative of the Reliance Group of companies. The business focuses on industrial, plant, and medicinal biotechnology potential. Within the medical business field, it specialises in the production, branding, and marketing of goods in the areas of biopharmaceuticals, industrial biotechnology, plant biotechnology, biofuels, innovative therapies, and clinical research services.
Reliance Solar
The division of Reliance which deals in solar energy was established with the aim of manufacturing and distributing solar energy to unconnected or laid-back regions. It offers a range of solar products, namely solar air conditioning, solar water purification, solar street lights, house lights, and solar lanterns.
Reliance Logistics
Reliance Logistics and Warehouse Holdings Ltd is a subsidiary of Reliance Industries Limited. It provides products for supply chain, storage, carriage, distribution, and transport.
Products and brands under Reliance Industries
Reliance Industries Limited (RIL), a diversified Indian conglomerate, has a vast business portfolio and operates across business segments.
Petrochemicals
Reliance made its name in petrochemicals business. In the field of petrochemicals, Reliance is at par with international companies and produces a variety of products like polymers, elastomers, polyesters, and aromatics. Some of the most popular brands that fall under this category are Relene, Recron, and Recron Certified.
Refining
At Jamnagar in India, RIL boasts of having the largest refining complex globally. This facility produces high-quality fuels, including jet fuel, diesel, and petrol that are obtained from different types of crude oils. It has a refining capacity that makes Reliance a significant player in the global energy market.
Oil and gas exploration
Oil and gas exploration is a major business activity for Reliance, with interests in both on-shore and off-shore operations. With important gas resources, the business has significantly improved India’s energy security.
Telecom
Jio, another RIL firm, disrupted the Indian telecom sector by launching its 4G services at affordable prices. Jio holds a leading position in the telecom and digital services market thanks to its rich service offerings that include the Internet, JioFiber, and mobile services.
Retail
Currently, Reliance Retail has many divisions and brands in nearly all categories including fashion, leisure, electronics and groceries among others. Some of the popular brands from the Reliance stable are Reliance Fresh, Reliance Digital, and Trends.
Textiles
Reliance originally started out as a textiles business before diversifying into other segments such as petrochemicals. The firm produces quality textile products and clothes. The textile segment of the company boasts of home textiles, suits & shirts and other items, including the popular Vimal brand of fabrics.
Conclusion
Looking at the Reliance company history, we can say it is one of the most innovative, visionary companies in India. Having started as a small textiles business, the company is now present in oil and gas, retail, telecom, and renewable energy. The group’s success has always been driven by the focus on technology advancement and value proposition to its customers.
Because of its dedication to digital transformation and sustainable practices, Reliance will play a significant role in determining the direction of the Indian economy. To conclude, Reliance group of companies present a picture of tenacity and aspiration, catering to the everyday needs of millions of Indians.
