Reliance Industries Ltd. is back in the $100 billion club after 11 years. Shares of the company jumped 4.4 per cent on Thursday, sending its market value to Rs 6.9 lakh crore. It is the second Indian corporate after Tata Consultancy Services to surpass the $100 billion value mark. We look at its journey from a polyester business to provider of fiber-to-the-home broadband services.
1960s
In 1960s, Reliance Commercial Corporation was co-founded by Dhirubhai Ambani and Champaklal Damani. After their partnership ended in 1965, Dhirubhai continued with the polyester business of the firm. In 1966, Reliance Textiles Industries Pvt Ltd was incorporated in Maharashtra.
1977
Dhirubhai Ambani made its initial public offering on the Bombay Stock Exchange. The issue was oversubscribed by seven times. 1985
The Reliance Textiles Industries Ltd is renamed Reliance Industries Ltd.
1986-1992The company expands its installed capacity for producing polyester yarn by over 145,000 tonnes per annum. 1996RIL is rated by international credit rating agencies -- a first for any private sector company in India.
1995-96
The conglomerate enters the telecom sector with a joint venture NYNEX, US, as Reliance Telecom Private Limited.
1998-99
RIL introduces packaged LPG in 15kg cylinders under the brand name Reliance Gas 2001Both Reliance and Reliance Petroleum Ltd. achieve the status of India's two largest companies in terms of all major financial parameters. In 2001-02, Reliance Petroleum is merged with Reliance Industries.
2002
In one of the largest gas discoveries in the world, Reliance discovers gas deposits at the Krishna Godavari basin, which is a first for a private sector company in India.The in-place volume of natural gas is found to be in excess of 7 trillion cubic feet, equivalent to about 1.2 billion barrels of crude oil.
2002-03
Reliance purchases a majority stake in Indian Petrochemicals Corporation Ltd, India's second largest petrochemicals company, from the Indian government. It's later merged with RIL in 2008. 2005 and 2006The company reorganises its business into power generation and distribution, financial services and telecommunication services.
2006
Reliance launches 'Reliance Fresh' and enters the organised retail market in India. By 2008 end, Reliance Retail had 600 stores across 57 cities. 2006Ambani brothers' split is formalised. Mukesh gets Reliance Industries and IPCL and younger brother Anil gets telecom, power, entertainment and financial services. This very year, Reliance Industries becomes India's first private sector enterprise to cross $2 billion profit mark.
2009
In 2009, Reliance Industries issues 1:1 bonus shares to its shareholders.
2010
Reliance acquires Infotel Broadband Services Limited and enters the broadband services market.
2010
Reliance and BP plc enter a partnership in the oil and gas business. BP plc takes a 30 per cent stake in 23 oil and gas production sharing contracts that Reliance operated in India, including the KG-D6 block for $7.2 billion. Reliance also forms a 50:50 joint venture with BP plc for sourcing and marketing of gas in India. 2013Reliance Retail reports to have more than 1,400 stores across India. The business is largest with brands like Reliance Footprint, Reliance Trends, Reliance Digital, Reliance Kitchen and others.
2016Reliance Jio is launched with Isha and Akash Ambani as directors. It becomes a major market disruptor with data plans priced at 1/10th of the market rates.
2017Jio reports a total of 100 million user base at the end of one year of its launch.
2018
At its 41st annual general meeting (AGM), Reliance Industries Ltd (RIL) chairman Mukesh Ambani announces the launch of JioGigaFiber broadband services and JioPhone 2.
2018Shares of Reliance Industries Ltd (RIL) escalate and its market capitalisation touches $100 billion.