Reliance Industries Limited 

is an Indian multinational conglomerate company, headquartered in

the city of Mumbai, India. It has diverse businesses including energy, petrochemicals, natural
gas, retail, telecommunications, mass media, and textiles. Reliance is one of the most profitable
companies in India,[2] the largest publicly traded company in India by market capitalisation,[3] and the
largest company in India as measured by revenue.[4] It is also the tenth largest employer in India with
over 236,000 employees.[5][6] RIL has a market capitalisation of US$243 billion as of October 2021.[7][8]
The company is ranked 155th on the Fortune Global 500 list of the world's biggest corporations as of
2021.[7] Reliance continues to be India's largest exporter, accounting for 8% of India's total
merchandise exports and access to markets in over 100 countries.[9] Reliance is responsible for
almost 5% of the government of India's total revenues from customs and excise duty. It is also the
highest income tax payer in the private sector in India.[9][10] The company has negative free cash
flows.[11]

Contents

 1History
o 1.11960–1980
o 1.21981–2000
o 1.32001 onwards
 2Shareholding
o 2.1Listing
 3Operations
o 3.1Subsidiaries
o 3.2Associates
o 3.3Digital Fibre Infrastructure Trust (InvIT)
o 3.4Former holdings
 4Employees
 5Awards and recognition
 6Finance
 7Criticism and controversies
o 7.1De-merger of RIL in 2005–2006
o 7.2Relationship with ONGC
o 7.3Nepotism
o 7.4NICL
o 7.5RIL plane grounded
o 7.6Krishna Godavari (KG) Basin gas
o 7.7Petition against Reliance Jio
 8See also
 9References
 10External links

History[edit]
1960–1980[edit]
Stamp released in 2002 to honour company founder Dhirubhai Ambani.

The company was co-founded by Dhirubhai Ambani and Champaklal Damani in 1960's as Reliance
Commercial Corporation. In 1965, the partnership ended and Dhirubhai continued
the polyester business of the firm.[12] In 1966, Reliance Textiles Engineers Pvt. Ltd. was incorporated
in Maharashtra. It established a synthetic fabrics mill in the same year at Naroda in Gujarat.[13] On 8
May 1973, it became Reliance Industries Limited. In 1975, the company expanded its business into
textiles, with "Vimal" becoming its major brand in later years. The company held its Initial public
offering (IPO) in 1977.[14] The issue was over-subscribed by seven times.[15] In 1979, a textiles
company Sidhpur Mills was amalgamated with the company.[16] In 1980, the company expanded its
polyester yarn business by setting up a Polyester Filament Yarn Plant in Patalganga, Raigad,
Maharashtra with financial and technical collaboration with E. I. du Pont de Nemours & Co., U.S.[13]

1981–2000[edit]
In 1985, the name of the company was changed from Reliance Textiles Industries Ltd. to Reliance
Industries Ltd.[13] During the years 1985 to 1992, the company expanded its installed capacity for
producing polyester yarn by over 1,45,000 tonnes per annum.[13]
The Hazira petrochemical plant was commissioned in 1991–92.[17]
In 1993, Reliance turned to the overseas capital markets for funds through a global depository issue
of Reliance Petroleum. In 1996, it became the first private sector company in India to be rated by
international credit rating agencies. S&P rated Reliance "BB+, stable outlook, constrained by the
sovereign ceiling". Moody's rated "Baa3, Investment grade, constrained by the sovereign ceiling".[18]
In 1995/96, the company entered the telecom industry through a joint venture with NYNEX, USA and
promoted Reliance Telecom Private Limited in India.[17]
In 1998/99, RIL introduced packaged LPG in 15 kg cylinders under the brand name Reliance Gas.[17]
The years 1998–2000 saw the construction of the integrated petrochemical complex at
Jamnagar in Gujarat,[17] the largest refinery in the world.

2001 onwards[edit]
In 2001, Reliance Industries Ltd. and Reliance Petroleum Ltd. became India's two largest companies
in terms of all major financial parameters.[19] In 2001–02, Reliance Petroleum was merged with
Reliance Industries.[14]
In 2002, Reliance announced India's biggest gas discovery (at the Krishna Godavari basin) in nearly
three decades and one of the largest gas discoveries in the world during 2002. The in-place volume
of natural gas was in excess of 7 trillion cubic feet, equivalent to about 120 crore (1.2 billion) barrels
of crude oil. This was the first ever discovery by an Indian private sector company.[14][20]
In 2002–03, RIL purchased a majority stake in Indian Petrochemicals Corporation Ltd. (IPCL), India's
second largest petrochemicals company, from the government of India,[21] RIL took over IPCL's
Vadodara Plants and renamed it as Vadodara Manufacturing Division (VMD).[22][23] IPCL's Nagothane
and Dahej manufacturing complexes came under RIL when IPCL was merged with RIL in 2008.[24][25]
In 2005 and 2006, the company reorganised its business by demerging its investments in power
generation and distribution, financial services and telecommunication services into four separate
entities.[26]
In 2006, Reliance entered the organised retail market in India[27] with the launch of its retail store
format under the brand name of 'Reliance Fresh'.[28][29] By the end of 2008, Reliance retail had close to
600 stores across 57 cities in India.[14]
In November 2009, Reliance Industries issued 1:1 bonus shares to its shareholders.
In 2010, Reliance entered the broadband services market with acquisition of Infotel Broadband
Services Limited, which was the only successful bidder for pan-India fourth-generation (4G)
spectrum auction held by the government of India.[30][31]
In the same year, Reliance and BP announced a partnership in the oil and gas business. BP took a
30 per cent stake in 23 oil and gas production sharing contracts that Reliance operates in India,
including the KG-D6 block for $7.2 billion.[32] Reliance also formed a 50:50 joint venture with BP for
sourcing and marketing of gas in India.[33]
In 2017, RIL set up a joint venture with Russian Company Sibur for setting up a Butyl rubber plant
in Jamnagar, Gujarat, to be operational by 2018.[34]
In August 2019, Reliance added Fynd primarily for its consumer businesses and mobile phone
services in the e-commerce space.[35][36]
On the 18th August 2021, Reliance Industries Limited (RIL) stated that it had shut down its
manufacturing units at Nagothane town in Maharashtra.[37]

Shareholding[edit]
Chairman and MD: Mukesh Ambani

Director: Nita Ambani

The number of shares of RIL are approx. 644.51 crore (6.44 billion).[38] The promoter group, the
Ambani family, holds approx. 49.38% of the total shares whereas the remaining 50.62% shares are
held by public shareholders, including FII and corporate bodies.[38] Life Insurance Corporation of
India is the largest non-promoter investor in the company, with 7.98% shareholding.[39]
In January 2012, the company announced a buyback program to buy a maximum of 12 crore (120
million) shares for ₹10,400 crore (US$1.5 billion). By the end of January 2013, the company had
bought back 4.62 crore (46.2 million) shares for ₹3,366 crore (US$440 million).[40]

Listing[edit]
The company's equity shares are listed on the National Stock Exchange of India Limited (NSE) and
the BSE Limited. The Global Depository Receipts (GDRs) issued by the company are listed
on Luxembourg Stock Exchange.[41][42] It has issued approx. 5.6 crore (56 million) GDRs wherein each
GDR is equivalent to two equity shares of the company. Approximately 3.46% of its total shares are
listed on Luxembourg Stock Exchange.[38]
Its debt securities are listed at the Wholesale Debt Market (WDM) Segment of the National Stock
Exchange of India Limited (NSE).[43]
It has received domestic credit ratings of AAA from CRISIL (S&P subsidiary) and Fitch. Moody's and
S&P have provided investment grade ratings for international debt of the company, as Baa2 positive
outlook (local currency issuer rating) and BBB+ outlook respectively.[44][45][46] On 28 December 2017,
RIL announced that it will be acquiring the wireless assets of Anil Ambani-led Reliance
Communications for about ₹23,000 crores.[47]