RELIANCE INDUSTRIES

Ranked 96th on the fortune global 500list of the world’s biggest corporations in 2020, Reliance Industries Limited (RIL) is an Indian multinational company headquartered in Mumbai, Maharashtra. Reliance’s businesses all over India range from energy, petroleum, textiles, natural resources to retail, and telecommunication. Falling under the category of the most profitable companies in India, it is the largest publicly traded powder in India and the largest company in India recently surpassing the government-controlled Indian Oil Corporation. Reliance became the first Indian company to cross $200 billion in market capitalization on the 10th of September, 2020.

News Jan 20, 2021 0 Add to Reading List

Ranked 96th on the fortune global 500list of the world’s biggest corporations in 2020, Reliance Industries Limited (RIL) is an Indian multinational company headquartered in Mumbai, Maharashtra. Reliance’s businesses all over India range from energy, petroleum, textiles, natural resources to retail, and telecommunication. Falling under the category of the most profitable companies in India, it is the largest publicly traded powder in India and the largest company in India recently surpassing the government-controlled Indian Oil Corporation. Reliance became the first Indian company to cross $200 billion in market capitalization on the 10th of September, 2020.

Shareholdings

RIL has approx 310 crores (3.1 billion) shares. Of the total shares, the Ambani family i.e. the promoter group holds 46.32% whereas the rest 53.68% is held by public shareholders, including FII and corporate bodies. 7.98% shares of it are held by Life Insurance Corporation of India which is the largest non-promoter investor in the company.

History

1960	Co-founded by Dhirubhai Ambani and Champaklal Damani as Reliance Commercial Corporation
1965	The partnership ended and Dhirubhai Ambani continued the polyester business
1966	Reliance Textiles Engineers Pvt. Ltd. incorporated in Maharashtra
1973	Became Reliance Industries Limited
1975	Expanded the business into textiles, ‘Vimal’ became a major brand in the following years
1977	Held its IPO
1979	The textiles company Sidhpur Mills amalgamated.
1980	Polyester business expanded
1985	Name changed to Reliance Industries Ltd.
1992	The Hazira petrochemical plant was commissioned
1993	Turned to the overseas capital market for funds
1996	Became first Indian private company to being rated by international credit rating agencies
1996	Entered telecom industry
1999	Introduced packaged LPG by the name Reliance Gas
2000	Construction of the integrated petrochemical complex in Gujarat
2001	Reliance Industries and Reliance Petroleum became India’s 2 largest companies
2002	Reliance Petroleum merged with Reliance Industries
2002	Announced the largest gas discoveries in the world
2003	RIL purchased a majority stake in Indian Petrochemicals Corporation Ltd.
2005	Demerged investments in power generation and distribution, financial services, and telecommunication services
2006	Entered the organized retail market in India with Reliance Fresh
2008	Close to 600 stores in 57 cities in India
2009	Issued 1:1 bonus shares to stakeholders
2010	Entered the broadband services market
2010	Reliance and BP announced a partnership
2017	Set up a joint venture with Sibur for setting up a Butyl rubber plant in Gujarat
2019	Added Fynd in the e-commerce space

Awards and recognition

International refiner of the year, 2017
Petrochemicals Congress, 2017
Second most valuable brand in India, 2013
25th in the ICIS Top 100 Chemicals Companies, 2013
Nation Golden Peacock Award, 2011
5th in 25 top companies, 2009
One of the world’s 100 best-managed companies, 2000
National Energy Conservation Award, 1994-97
7th most trusted brand in India, 2013
9th most trusted brand in India, 2014

Scams

Reliance issued fake shares.
It changed shares sent for transfer by buyers to make illegal profits.
It has indulged in insider trading in shares.
It almost monopolized the private telecom services market through front companies.