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Reliance Industries Limited is an Indian multinational
conglomerate company A conglomerate () is a multi-industry company – i.e., a combination of multiple business entities operating in entirely different industries under one corporate group, usually involving a parent company and many subsidiaries. Conglomerates ...
, headquartered in
Mumbai Mumbai (, ; also known as Bombay — the official name until 1995) is the capital city of the Indian state of Maharashtra and the ''de facto'' financial centre of India. According to the United Nations, as of 2018, Mumbai is the secon ...
. It has diverse businesses including
energy In physics, energy (from Ancient Greek: ἐνέργεια, ''enérgeia'', “activity”) is the quantitative property that is transferred to a body or to a physical system, recognizable in the performance of work and in the form of ...
,
petrochemicals Petrochemicals (sometimes abbreviated as petchems) are the chemical products obtained from petroleum by refining. Some chemical compounds made from petroleum are also obtained from other fossil fuels, such as coal or natural gas, or renewable so ...
,
natural gas Natural gas (also called fossil gas or simply gas) is a naturally occurring mixture of gaseous hydrocarbons consisting primarily of methane in addition to various smaller amounts of other higher alkanes. Low levels of trace gases like carbon d ...
,
retail Retail is the sale of goods and Service (economics), services to consumers, in contrast to wholesaling, which is sale to business or institutional customers. A retailer purchases goods in large quantities from manufacturing, manufacturers, dire ...
,
telecommunications Telecommunication is the transmission of information by various types of technologies over wire, radio, optical, or other electromagnetic systems. It has its origin in the desire of humans for communication over a distance greater than that ...
,
mass media Mass media refers to a diverse array of media technologies that reach a large audience via mass communication. The technologies through which this communication takes place include a variety of outlets. Broadcast media transmit informati ...
, and
textiles Textile is an umbrella term that includes various fiber-based materials, including fibers, yarns, filaments, threads, different fabric types, etc. At first, the word "textiles" only referred to woven fabrics. However, weaving is not the ...
. Reliance is one of the most profitable companies in India, the largest publicly traded company in India by
market capitalisation Market capitalization, sometimes referred to as market cap, is the total value of a publicly traded company's outstanding common shares owned by stockholders. Market capitalization is equal to the market price per common share multiplied by ...
, and the largest company in India as measured by revenue. It is also the one of the top largest employer in India with over 236,000 employees in the world. The company is ranked 100th on the
Fortune Global 500 The ''Fortune'' Global 500, also known as Global 500, is an annual ranking of the top 500 corporations worldwide as measured by revenue. The list is compiled and published annually by ''Fortune'' magazine. Methodology Until 1989, it listed onl ...
list of the world's biggest corporations as of 2022. Reliance continues to be India's largest exporter, accounting for 7% of India's total merchandise exports and it has access to markets in over 100 countries. Reliance is responsible for almost 5% of the Government of India's total revenue from customs and excise duty. It is also the highest income tax payer in the private sector in India. The company has relatively little
free cash flow In corporate finance, free cash flow (FCF) or free cash flow to firm (FCFF) is the amount by which a business's operating cash flow exceeds its working capital needs and expenditures on fixed assets (known as capital expenditures). It is that porti ...
s.


History


1960–1980

The company was co-founded by
Dhirubhai Ambani Dhirajlal Hirachand Ambani (28 December 1932 – 6 July 2002), popularly known as Dhirubhai Ambani, was an Indian business tycoon who founded Reliance Industries. Ambani took Reliance public in 1977 and was worth US$2.9 billion in 2002 upon hi ...
and Champaklal Damani in 1960's as Reliance Commercial Corporation. In 1965, the partnership ended and Dhirubhai continued the
polyester Polyester is a category of polymers that contain the ester functional group in every repeat unit of their main chain. As a specific material, it most commonly refers to a type called polyethylene terephthalate (PET). Polyesters include natura ...
business of the firm. In 1966, Reliance Textile Industries Pvt. Ltd. was incorporated in
Maharashtra Maharashtra (; , abbr. MH or Maha) is a state in the western peninsular region of India occupying a substantial portion of the Deccan Plateau. Maharashtra is the second-most populous state in India and the second-most populous country subdi ...
. It established a synthetic fabrics mill in the same year at
Naroda Naroda is a fast-growing area in Ahmedabad, northeast of central Ahmedabad in the Indian state of Gujarat. History With the establishment of the Naroda Industrial Area in the 1980s, the town flourished; it was incorporated into Ahmedabad in ...
in
Gujarat Gujarat (, ) is a state along the western coast of India. Its coastline of about is the longest in the country, most of which lies on the Kathiawar peninsula. Gujarat is the fifth-largest Indian state by area, covering some ; and the ninth ...
. 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 An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investme ...
(IPO) in 1977. The issue was over-subscribed by seven times. In 1979, a textiles company Sidhpur Mills was amalgamated with the company. 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.


1981–2000

In 1985, the name of the company was changed from ''Reliance Textiles Industries Ltd.'' to ''Reliance Industries Ltd.'' During 1985 to 1992, the company expanded its installed capacity for producing
polyester Polyester is a category of polymers that contain the ester functional group in every repeat unit of their main chain. As a specific material, it most commonly refers to a type called polyethylene terephthalate (PET). Polyesters include natura ...
yarn Yarn is a long continuous length of interlocked fibres, used in sewing, crocheting, knitting, weaving, embroidery, ropemaking, and the production of textiles. Thread is a type of yarn intended for sewing by hand or machine. Modern manu ...
by over 145,000 tonnes per annum. The Hazira petrochemical plant was commissioned in 1991–92. 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 Moody's Investors Service, often referred to as Moody's, is the bond credit rating business of Moody's Corporation, representing the company's traditional line of business and its historical name. Moody's Investors Service provides internationa ...
rated "Baa3, Investment grade, constrained by the sovereign ceiling". In 1995/96, the company entered the telecom industry through a joint venture with
NYNEX NYNEX Corporation was an American telephone company that served five states of New England ( Maine, Massachusetts, New Hampshire, Rhode Island and Vermont) as well as most of the state of New York from January 1, 1984 to August 14, 1997. H ...
, USA, and promoted Reliance Telecom Private Limited in India. In 1998/99, RIL introduced packaged LPG in 15 kg cylinders under the brand name ''Reliance Gas''. The years 1998–2000 saw the construction of the integrated petrochemical complex at Jamnagar in
Gujarat Gujarat (, ) is a state along the western coast of India. Its coastline of about is the longest in the country, most of which lies on the Kathiawar peninsula. Gujarat is the fifth-largest Indian state by area, covering some ; and the ninth ...
, the largest refinery in the world.


2001 onwards

In 2001, Reliance Industries Ltd. and Reliance Petroleum Ltd. became India's two largest companies in terms of all major financial parameters. In 2001–02, Reliance Petroleum was merged with Reliance Industries. 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 more than 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. 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, RIL took over IPCL's Vadodara Plants and renamed it as Vadodara Manufacturing Division (VMD). IPCL's Nagothane and Dahej manufacturing complexes came under RIL when IPCL was merged with RIL in 2008. 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. In 2006, Reliance entered the organised retail market in India with the launch of its retail store format under the brand name of ' Reliance Fresh'. By the end of 2008, Reliance Retail had close to 600 stores across 57 cities in India. 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. 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. Reliance also formed a 50:50 joint venture with BP for sourcing and marketing of gas in India. In 2017, RIL set up a
joint venture A joint venture (JV) is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance. Companies typically pursue joint ventures for one of four reasons: to acces ...
with Russian Company
Sibur SIBUR (PJSC SIBUR Holding) is a Russian petrochemicals company founded in 1995 and headquartered in Moscow. SIBUR is the largest integrated petrochemicals company in Russia and one of the fastest-growing companies in the global petrochemicals ...
for setting up a
Butyl rubber Butyl rubber, sometimes just called "butyl", is a synthetic rubber, a copolymer of isobutylene with isoprene. The abbreviation IIR stands for isobutylene isoprene rubber. Polyisobutylene, also known as "PIB" or polyisobutene, (C4H8)n, is the ...
plant in
Jamnagar Jamnagar () is a city located on the western coast of India in the state of Gujarat of Saurashtra region. It is the administrative headquarters of the Jamnagar district and the fifth largest city in Gujarat. The city lies just to the south o ...
,
Gujarat Gujarat (, ) is a state along the western coast of India. Its coastline of about is the longest in the country, most of which lies on the Kathiawar peninsula. Gujarat is the fifth-largest Indian state by area, covering some ; and the ninth ...
, to be operational by 2018. In August 2019, Reliance added Fynd primarily for its consumer businesses and mobile phone services in the
e-commerce E-commerce (electronic commerce) is the activity of electronically buying or selling of products on online services or over the Internet. E-commerce draws on technologies such as mobile commerce, electronic funds transfer, supply chain manag ...
space. On the 18th of August 2021, Reliance Industries Limited (RIL) stated that it had shut down its manufacturing units at Nagothane town in Maharashtra. In December 2022, Reliance Industries Market cap stood at Rs.17,59,017.23 crore.


Shareholding

The number of shares of RIL are approx. 644.51 crore (6.44 billion). The promoter group, the Ambani family, holds 50.00% of the total shares whereas the remaining 50.00% shares are held by public shareholders, including FII and corporate bodies.
Life Insurance Corporation of India Life Insurance Corporation of India (LIC) is an Indian central public sector undertaking headquartered in Mumbai, Maharashtra, India. It is under the ownership of Ministry of Finance, Government of India. The Life Insurance Corporation ...
is the largest non-promoter investor in the company, with 7.98% shareholding. 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 .


Listing

The company's equity shares are listed on the
National Stock Exchange of India National Stock Exchange of India Limited (NSE) is the leading stock exchange under the ownership of various group of domestic and global financial institutions, public and privately owned entities and individuals. It is located in Mumbai, Ma ...
Limited (NSE) and the BSE Limited. The Global Depository Receipts (GDRs) issued by the company are listed on
London Stock Exchange London Stock Exchange (LSE) is a stock exchange in the City of London, England, United Kingdom. , the total market value of all companies trading on LSE was £3.9 trillion. Its current premises are situated in Paternoster Square close to St Pau ...
. 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. Its debt securities are listed at the Wholesale Debt Market (WDM) Segment of the National Stock Exchange of India Limited (NSE). 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. On 28 December 2017, RIL announced that it will be acquiring the wireless assets of
Anil Ambani Anil Dhirubhai Ambani (born 4 June 1959) is an Indian businessman. He was the chairman of Reliance Group (also known as Reliance ADA Group), which was created in July 2006 following a demerger from Reliance Industries Limited. He leads a numbe ...
-led
Reliance Communications Reliance Communications Limited (RCOM) was an Indian mobile network provider headquartered in Navi Mumbai that offered voice and 2G and 3G and 4G data services. In February 2019, the company filed for bankruptcy as it was unable to sell asse ...
for about ₹23,000 crores.


Operations

The company's
petrochemical Petrochemicals (sometimes abbreviated as petchems) are the chemical products obtained from petroleum by refining. Some chemical compounds made from petroleum are also obtained from other fossil fuels, such as coal or natural gas, or renewabl ...
,
refining {{Unreferenced, date=December 2009 Refining (also perhaps called by the mathematical term affining) is the process of purification of a (1) substance or a (2) form. The term is usually used of a natural resource that is almost in a usable form, b ...
, and oil and gas-related operations form the core of its business; other divisions of the company include cloth, retail, telecommunications, and
special economic zone A special economic zone (SEZ) is an area in which the business and trade laws are different from the rest of the country. SEZs are located within a country's national borders, and their aims include increasing trade balance, employment, increas ...
(SEZ) development. In 2012–13, it earned 76% of its revenue from refining, 19% from petrochemicals, 2% from oil & gas and 3% from other segments. In July 2012, RIL informed that it was going to invest US$1 billion over the next few years in its new aerospace division which will design, develop and manufacture equipment and components, including
aircraft An aircraft is a vehicle that is able to flight, fly by gaining support from the Atmosphere of Earth, air. It counters the force of gravity by using either Buoyancy, static lift or by using the Lift (force), dynamic lift of an airfoil, or in ...
,
engine An engine or motor is a machine designed to convert one or more forms of energy into mechanical energy. Available energy sources include potential energy (e.g. energy of the Earth's gravitational field as exploited in hydroelectric power ...
,
radars Radar is a detection system that uses radio waves to determine the distance (''ranging''), angle, and radial velocity of objects relative to the site. It can be used to detect aircraft, ships, spacecraft, guided missiles, motor vehicles, w ...
,
avionics Avionics (a blend of ''aviation'' and ''electronics'') are the electronic systems used on aircraft. Avionic systems include communications, navigation, the display and management of multiple systems, and the hundreds of systems that are fit ...
and accessories for military and civilian aircraft,
helicopter A helicopter is a type of rotorcraft in which lift and thrust are supplied by horizontally spinning rotors. This allows the helicopter to take off and land vertically, to hover, and to fly forward, backward and laterally. These attribu ...
s, unmanned airborne vehicles, and aerostats. On 31 March 2021, the company had 347 subsidiary companies and 150 associate companies.


Subsidiaries


Jio Platforms

Jio Platforms Limited, essentially a technology company, is a majority-owned subsidiary of RIL.It has a valuation of more than $100 billion on expert view as of October 2022.It is the result of a corporate restructuring announced in October 2019, resulting in all the digital initiatives and the telecommunication assets being housed under this new subsidiary. This new subsidiary holds all the digital business assets including Reliance Jio Infocomm Ltd, which in turn holds the Jio connectivity business - mobile, broadband and enterprise, and also the other digital assets (JIO Apps, Tech backbone and Investments in other tech entities like Haptic, Hathaway and Den Networks among others). In April 2020, RIL announced a strategic investment of by Facebook into Jio Platforms. This investment translated into a 9.99% equity stake, on a fully diluted basis. Further in May 2020, RIL sold roughly 1.15% stake in Jio Platforms for to the American private equity investor,
Silver Lake Partners Silver Lake is an American global private equity firm focused on investments in technology, technology-enabled and related industries. Founded in 1999, the firm is one of the largest technology investors in the world. Its investment holdings hav ...
.
Intel Intel Corporation is an American multinational corporation and technology company headquartered in Santa Clara, California. It is the world's largest semiconductor chip manufacturer by revenue, and is one of the developers of the x86 ser ...
became the 12th company to invest in Reliance Jio platforms after it invested ₹1,894.50 crore ($250 million),the total investments in Jio platforms is ₹117,588.45 crore so far. On 16 July 2020,
Google Google LLC () is an American Multinational corporation, multinational technology company focusing on Search Engine, search engine technology, online advertising, cloud computing, software, computer software, quantum computing, e-commerce, ar ...
announced that it will acquire a 7.7% stake in Jio Platforms for ₹33,737 crore. Mukesh Ambani has named his son, Mr.Akash Mukesh Ambani as the chairperson of Jio in 2022.


Reliance Retail

Reliance Retail Reliance Retail is an Indian retail company and a subsidiary of Reliance Industries. Founded in 2006, it is the largest retailer in India in terms of revenue. Its retail outlets offer foods, groceries, apparel, footwear, toys, home improvemen ...
is the retail business wing of the Reliance Industries. In March 2013, it had 1466 stores in India. It is the largest retailer in India. Many brands like Reliance Fresh,
Reliance Footprint Reliance Retail is an Indian retail company and a subsidiary of Reliance Industries. Founded in 2006, it is the largest retailer in India in terms of revenue. Its retail outlets offer foods, groceries, apparel, footwear, toys, home improvement ...
, Reliance Time Out,
Reliance Digital Reliance Digital is an Indian consumer electronics retailer. It is a subsidiary of Reliance Retail, a wholly owned subsidiary of Reliance Industries. Reliance Digital opened its first store on 24 April 2007 in Delhi. Currently there are more ...
, Reliance Wellness,
Reliance Trends Reliance may refer to: Companies * Reliance Controls, an American electrical products company founded in 1909 in Wisconsin * Reliance Home Comfort, a Canadian water heater rental and HVAC service company * Reliance Industries, an Indian co ...
, Reliance Autozone, Reliance Super, Reliance Mart, Reliance iStore, Reliance Home Kitchens, Reliance Market (Cash n Carry) and Reliance Jewel come under the Reliance Retail brand. Its annual revenue for the financial year 2012–13 was with an EBITDA of .Its market value is more than $60 billion. Mukesh Ambani stepped down from the position of chairperson of Reliance Retail and handed over the job to his daughter Mrs. Isha Ambani Piramal. Mr. Ambani announced it during the 45th Reliance AGM, in 2022. As per reports, this act is a part of Ambani's leadership transition.


Reliance Life Sciences

Reliance Life Sciences works around medical, plant and industrial
biotechnology Biotechnology is the integration of natural sciences and engineering sciences in order to achieve the application of organisms, cells, parts thereof and molecular analogues for products and services. The term ''biotechnology'' was first used ...
opportunities. It specialises in manufacturing, branding, and marketing Reliance Industries' products in bio-pharmaceuticals,
pharmaceuticals A medication (also called medicament, medicine, pharmaceutical drug, medicinal drug or simply drug) is a drug used to diagnose, cure, treat, or prevent disease. Drug therapy ( pharmacotherapy) is an important part of the medical field and re ...
, clinical research services,
regenerative medicine Regenerative medicine deals with the "process of replacing, engineering or regenerating human or animal cells, tissues or organs to restore or establish normal function". This field holds the promise of engineering damaged tissues and organs by st ...
,
molecular medicine Molecular medicine is a broad field, where physical, chemical, biological, bioinformatics and medical techniques are used to describe molecular structures and mechanisms, identify fundamental molecular and genetic errors of disease, and to develop ...
, novel therapeutics,
biofuel Biofuel is a fuel that is produced over a short time span from biomass, rather than by the very slow natural processes involved in the formation of fossil fuels, such as oil. According to the United States Energy Information Administration ...
s, plant biotechnology, and industrial biotechnology sectors of the medical business industry.


Reliance Logistics

Reliance Logistics is a single-window company selling transportation, distribution, warehousing, logistics, and supply chain-related products. Reliance Logistics is an asset based company with its own fleet and infrastructure. It provides logistics services to Reliance group companies and outsiders. Merged content from Reliance Logistics to here. See Talk:Reliance Industries/Archives/2013#Merge proposals.


Reliance Solar

Reliance Solar, the solar energy subsidiary of Reliance, was established to produce and retail solar energy systems primarily to remote and rural areas. It offers a range of products based on solar energy: solar lanterns, home lighting systems, street lighting systems,
water purification Water purification is the process of removing undesirable chemicals, biological contaminants, suspended solids, and gases from water. The goal is to produce water that is fit for specific purposes. Most water is purified and disinfected for hu ...
systems, refrigeration systems and solar air conditioners. In 2022 RIL AGM, Mukesh Ambani specified that his youngest son Anant Ambani will take over the new energy business. Merged content from Reliance Solar to here. See Talk:Reliance Industries/Archives/2013#Merge proposals.


Reliance Industrial Infrastructure

Reliance Industrial Infrastructure Limited (RIIL) is an associate company of RIL. RIL holds 45.43% of the total shares of RIIL. It was incorporated in September 1988 as Chembur Patalganga Pipelines Limited, with the main objective being to build and operate cross-country pipelines for transporting petroleum products. The company's name was subsequently changed to CPPL Limited in September 1992, and thereafter to its present name, Reliance Industrial Infrastructure Limited, in March 1994. RIIL is mainly engaged in the business of setting up and operating industrial infrastructure. The company is also engaged in related activities involving leasing and providing services connected with computer software and data processing. The company set up a 200-millimetre diameter twin pipeline system that connects the Bharat Petroleum refinery at Mahul,
Maharashtra Maharashtra (; , abbr. MH or Maha) is a state in the western peninsular region of India occupying a substantial portion of the Deccan Plateau. Maharashtra is the second-most populous state in India and the second-most populous country subdi ...
, to Reliance's petrochemical complex at
Patalganga Patalganga is a huge industrial area of the Maharashtra Industrial Development Corporation (MIDC) Industrial Areas on MIDC Official Website near Karjat and Panvel. It has got its name from the Patalganga River. Nearest town and junction is Karjat ...
, Maharashtra. The pipeline carries petroleum products including
naphtha Naphtha ( or ) is a flammable liquid hydrocarbon mixture. Mixtures labelled ''naphtha'' have been produced from natural gas condensates, petroleum distillates, and the distillation of coal tar and peat. In different industries and regions ' ...
and kerosene. It has commissioned facilities like the supervisory control and data acquisition system and the cathodic protection system, a jack well at River Tapi, and a raw water pipeline system at
Hazira Hazira is a suburb and a transshipment port in the Surat City in the Gujarat state of India. It is the west most end of Surat. Hazira is one of the major ports of India and the most important element of Surat Metropolitan Region. The town is ...
. The infrastructure company constructed a 71,000 kilo-litre petrochemical product storage and distribution terminal at the Jawaharlal Nehru Port Trust (JNPT) Area in Maharashtra.


Network 18

Network 18 Network18 Media & Investments Limited, (formerly SGA Finance and Management Service and Network18 Fincap Limited) commonly referred to as the Network18 Group and sometimes as the Network18–Eenadu Group, is an Indian media conglomerate owned b ...
, a mass media company. It has interests in television, digital platforms, publication, mobile apps and films. It also operates two joint ventures, namely Viacom 18 and
History TV18 History TV18 (formerly known as The History Channel) is a television channel in India. It broadcasts infotainment and documentry shows. It is owned by a joint venture between A+E Networks, owner of the American History channel, and TV18, an Ind ...
with Viacom and
A+E Networks A&E Networks (stylized as A+E NETWORKS) is an American multinational broadcasting company that is a 50–50 joint venture between Hearst Communications and The Walt Disney Company through its General Entertainment Content division. The company ...
respectively. It has also acquired a partial part of ETV Network and since renamed its channels under the
Colors TV Colors TV is an Indian general entertainment broadcast network owned by Viacom18. The network's programming consists of family dramas, comedies, youth-oriented reality shows, shows on crime and television films. History It was launched on ...
brand.


Reliance Eros Productions LLP

Reliance Eros Productions LLP, joint venture with
Eros International Eros International Media Ltd (also known as Eros India) is an Indian motion picture production and distribution company, based and originated in Mumbai, India. Founded by Arjun Lulla in 1977, it is one of the leading production and distribut ...
to produce film content in India.


Reliance Industrial Investments and Holdings Limited

Reliance Industrial Investments and Holdings Limited (RIIHL), a wholly-owned subsidiary of RIL which provides financial services. The Company owns securities of companies other than banks, as well as offers investment services. RIIHL bought majority stakes in two companies - logistics firm Grab A Grub Services Private Limited
Grab
and software company C-Square Info Solutions - for over ₹146 crores in March 2019. RIIHL also sponsored the Tower
Investment trust An investment trust is a form of investment fund found mostly in the United Kingdom and Japan. Investment trusts are constituted as public limited companies and are therefore closed ended since the fund managers cannot redeem or create shares. ...
(InvITs) for the acquisition of 49% equity in RJio's tower assets for ₹25,215 crores by the Canadian asset management firm
Brookfield Infrastructure Partners Brookfield Infrastructure Partners L.P. is a publicly traded limited partnership with corporate headquarters in Toronto, Canada, that engages in the acquisition and management of infrastructure assets on a global basis. Until a spin-off in Janua ...
. On April 22, 2021, RIIHL acquired the entire issued share capital of Stoke Park Ltd, company that owns and manages sporting and leisure facilities in Stoke Poges, Buckinghamshire for £57 million.


Reliance Strategic Business Ventures

Reliance Strategic Business Ventures Limited (RSBVL), a wholly-owned subsidiary of RIL bought a 51.78% stake in robotics and AI firm Asteria Aerospace for ₹23.12 crore and an 85% stake in NowFloats Technologies for ₹141.63 crores in Dec 2019. It also holds 18.83% in EIH Limited, the flagship company of
The Oberoi Group The Oberoi Group is an award-winning luxury hotel group with its head office in New Delhi, India. Founded in 1934, the company owns and operates 32 luxury hotels and two river cruise ships in 7 countries, primarily under its Oberoi Hotels & R ...
, one of the largest luxury hotel chains in India. In November 2019, RSBVL invested an undisclosed amount in SkyTran Inc. for 12.7%, increased it further to 26.3% by April 2020. In February 2021, RIL became the majority stakeholder with 54.46% with an additional investment of $26.76 million.


Embibe

Embibe
Bengaluru-based EdTech start-up raised funding of ₹89.91 crores from RIL in February 2020. Over three years, Reliance Industries had invested around $180 million in the start-up. A part of it was towards acquiring a stake of 72.69% from Embibe's existing investors. In December 2019, Embibe, under the proprietary name (Individual Learning Private Limited), announced that it picked up equity shares in Bengaluru-based K12 startup Funtoot (eDreams Edusoft). The deal was capped at ₹71.64 crores in cash, which holds 90.5% of the equity share capital of Funtoot. In February 2020, it acquired the rival platform OnlineTyari.


NowFloats

NowFloats Technologies Pvt Limited
offers a slew of services such as an online business management suite, local content platforms and marketing solutions, among others.Reliance Industries Ltd (RIL) acquired a 85% stake in NowFloats in 2022.
Model Economic TownshipReliance Sibur


Associates

* Relicord is a
cord blood bank A cord blood bank is a facility which stores umbilical cord blood for future use. Both private and public cord blood banks have developed in response to the potential for cord blood in treating diseases of the blood and immune systems. Public cord ...
ing service owned by Reliance Life Sciences. It was established in 2002. It has been inspected and accredited by AABB, and also has been accorded a licence by Food and Drug Administration (FDA), Government of India. * Reliance Jio Infocomm Limited (RJIL), previously known as Infotel Broadband, is a broadband service provider which gained 4G licences for operating across India. * Reliance Institute of Life Sciences (RILS), established by Dhirubhai Ambani Foundation, is an institution offering higher education in various fields of
life science Life is a quality that distinguishes matter that has biological processes, such as signaling and self-sustaining processes, from that which does not, and is defined by the capacity for growth, reaction to stimuli, metabolism, energy ...
s and related technologies. *Reliance Clinical Research Services (RCRS), a
contract research organisation In the life sciences, a contract research organization (CRO) is a company that provides support to the pharmaceutical, biotechnology, and medical device industries in the form of research services outsourced on a contract basis. A CRO may provide ...
(CRO) and wholly owned subsidiary of Reliance Life Sciences, specialises in the clinical research services industry. Its clients are primarily pharmaceutical, biotechnology and medical device companies. *
LYF LYF (pronounced "life"), also known as Jio LYF, is an Indian brand of smartphones, laptops, consumer electronics developed by Jio and headquartered in Mumbai, Maharashtra, India. It manufactures 4G-enabled VoLTE smartphones which run on Andro ...
, a 4G-enabled VoLTE device brand from Reliance Retail.


Digital Fibre Infrastructure Trust (InvIT)

Reliance Industrial Investments and Holdings owns Digital Fibre InvIT, which in turn owns 51% of Jio Digital Fibre Private Limited. The remaining 49% of Jio Digital Fibre Private Limited is owned by Reliance Industries directly. Jio Digital Fibre Private Limited holds all fibre optic assets of the telecom operations of the group.


Former holdings

In March 2017, Reliance Industries Ltd (RIL) completed the sale process of its 76% equity stake in Mauritius-based oil retailer Gulf Africa Petroleum Corp (GAPCO) to Total Marketing & Services, a subsidiary of the French oil and gas firm
Total SE TotalEnergies SE is a French multinational integrated energy and petroleum company founded in 1924 and one of the seven supermajor oil companies. Its businesses cover the entire oil and gas chain, from crude oil and natural gas exploration and ...
. The East West Pipeline has been acquired by India Infrastructure Trust, which is owned by Brookfield Asset Management for a consideration of ₹13,000 cr.


Employees

As of 31 March 2018, the company had 29,533 permanent employees of which 1,521 were women and 70 were employees with disabilities. It also had 158,196 temporary employees on the same date which makes a total of 187,729 employees. As per its Sustainability Report for 2011–12, the attrition rate was 7.5%. But currently, the same attrition rate has gone up to 23.4% in March 2015 as per latest report released by the organisation. In its 39th Annual General Meeting, its chairman informed the shareholders of the investment plans of the company of about in the next three years. This would be accompanied by increasing the staff strength in Retail division from existing strength of 35,000 to 120,000 in next 3 years and increasing employees in Telecom division from existing 3,000 to 10,000 in 12 months.


Awards and recognition

* International Refiner of the year in 2017 at Global Refining and Petrochemicals Congress 2017 * International Refiner of the Year in 2013 at the HART Energy's 27th World Refining & Fuel Conference. This is the second time that RIL has received this Award for its Jamnagar Refinery, the first being in 2005. * The Brand Trust Report ranked Reliance Industries as the 7th most trusted brand in India in 2013 and 9th in 2014. * RIL was certified as '
Responsible Care Started in Canada in 1985, Responsible Care is a global, voluntary initiative developed autonomously by the chemical industry for the chemical industry. It runs in 67 countries whose combined chemical industries account for nearly 90% of global chem ...
Company' by the
American Chemistry Council American Chemistry Council (ACC), formerly known as the Manufacturing Chemists' Association (at its founding in 1872) and then as the Chemical Manufacturers' Association (from 1978 until 2000), is an industry trade association for American chemic ...
in March 2012. * RIL was ranked at 25th position across the world, on the basis of sales, in the ICIS Top 100 Chemicals Companies list in 2012. * RIL was awarded the National Golden Peacock Award 2011 for its contribution in the field of corporate sustainability. * In 2009,
Boston Consulting Group Boston Consulting Group, Inc. (BCG) is an American global management consulting firm founded in 1963 and headquartered in Boston, Massachusetts. It is one of the Big Three (or MBB, the world’s three largest management consulting firms by re ...
(BCG) named Reliance Industries as the world's fifth biggest 'sustainable value creator' in a list of 25 top companies globally in terms of investor returns over a decade. * The company was selected as one of the world's 100 best managed companies for the year 2000 by
IndustryWeek ''IndustryWeek'' (IW) is an American monthly trade publication founded in 1882. Content ''IndustryWeek'' is a trade publication and website owned by Endeavor Business Media. It is a business-to-business (B2B) service that produces print, e-media ...
magazine. * From 1994 to 1997, the company won National Energy Conservation Award in the petrochemical sector.


Finance


De-merger of RIL in 2005–2006

The Ambani family holds around 45% of the shares in RIL. Since its inception, the company was managed by its founder and chairman
Dhirubhai Ambani Dhirajlal Hirachand Ambani (28 December 1932 – 6 July 2002), popularly known as Dhirubhai Ambani, was an Indian business tycoon who founded Reliance Industries. Ambani took Reliance public in 1977 and was worth US$2.9 billion in 2002 upon hi ...
. After suffering a stroke in 1986, he handed over the daily operations of the company to his sons
Mukesh Ambani Mukesh Dhirubhai Ambani (born 19 April 1957) is an Indian billionaire businessman. He is the chairman and managing director of Reliance Industries Ltd. (RIL), a Fortune Global 500 company and India's most valuable company by market value. Ac ...
and
Anil Ambani Anil Dhirubhai Ambani (born 4 June 1959) is an Indian businessman. He was the chairman of Reliance Group (also known as Reliance ADA Group), which was created in July 2006 following a demerger from Reliance Industries Limited. He leads a numbe ...
. After the death of Dhirubhai Ambani in 2002, the management of the company was taken up by both the brothers. In November 2004, Mukesh Ambani, in an interview, admitted to having differences with his brother Anil over 'ownership issues'. He also said that the differences "are in the private domain". The share prices of RIL were impacted by some margin when this news broke out. In 2005, after a bitter public feud between the brothers over the control of the Reliance empire, mother Kokilaben intervened to broker a deal splitting the RIL group business into two parts. In October 2005, the split of Reliance Group was formalised. Mukesh Ambani got Reliance Industries and IPCL. Younger brother Anil Ambani received telecom, power, entertainment, and financial services business of the group. The Anil Dhirubhai Ambani Group includes Reliance Communications, Reliance Infrastructure, Reliance Capital, Reliance Natural Resources and Reliance Power. The division of Reliance group business between the two brothers also resulted in de-merger of 4 businesses from RIL. These businesses immediately became part of Anil Dhirubhai Ambani Group. The existing shareholders in RIL, both the promoter group and non-promoters, received shares in the de-merged companies.


Relationship with ONGC

In May 2014,
ONGC The Oil and Natural Gas Corporation (ONGC) is a central public sector undertaking under the ownership of Ministry of Petroleum and Natural Gas, Government of India. It is headquartered in New Delhi. ONGC was founded on 14 August 1956 by the ...
moved to
Delhi High Court The High Court of Delhi (IAST: ''dillī uchcha nyāyālaya'') was established on 31 October 1966, through the ''Delhi High Court Act, 1966'', with four judges, Chief Justice K. S. Hegde, Justice I. D. Dua, Justice H. R. Khanna and Justice S. ...
accusing RIL of pilferage of 18 billion cubic metres of gas from its gas-producing block in the Krishna Godavari basin. Subsequently, the two companies agreed to form an independent expert panel to probe any pilferage.


Nepotism

''Seminar'' magazine (2003) detailed Reliance founder Dhirubhai Ambani's proximity to politicians, his enmity with Bombay Dyeing's Nusli Wadia, the exposes by the
Indian Express ''The Indian Express'' is an English-language Indian daily newspaper founded in 1932. It is published in Mumbai by the Indian Express Group. In 1999, eight years after the group's founder Ramnath Goenka's death in 1991, the group was split be ...
and Arun Shourie about illegal imports by the company and overseas share transactions by shell companies, and the botched attempt to acquire
Larsen & Toubro Larsen & Toubro Ltd, commonly known as L&T, is an Indian multinational conglomerate company, with business interests in engineering, construction, manufacturing, technology, information technology and financial services, headquartered in Mumba ...
. As early as 1996, ''Outlook'' magazine addressed other controversies related to fake and switched shares; insider trading; and a nexus with the state-owned
Unit Trust of India UTI Mutual Fund was carved out of the erstwhile Unit Trust of India (UTI) as a Securities and Exchange Board of India (SEBI) registered mutual fund from 1 February 2003. The Unit Trust of India Act 1963 was repealed, paving way for the bifurca ...
. Five main allegations concerning Reliance, which have plunged the Indian capital markets into a period of uncertainty unsurpassed since the days of the securities scam were: * Reliance issued fake shares. * It switched shares sent for transfer by buyers to make illegal profits. * It indulged in insider trading in shares. * It established a nexus with the Unit Trust of India to raise huge sums of money to the detriment of UTI subscribers. * It attempted to monopolize the private telecom services market through front companies.


NICL

The
Central Bureau of Investigation The Central Bureau of Investigation (CBI) is the premier investigating agency of India. It operates under the jurisdiction of the Ministry of Personnel, Public Grievances and Pensions. Originally set up to investigate bribery and government ...
(CBI) filed a charge sheet in a Mumbai court against Reliance Industries Limited (RIL) and four retired employees of
National Insurance Company Limited National Insurance Company Limited (NICL) is a central public sector undertaking under the ownership of Ministry of Finance, Government of India. It is headquartered at Kolkata and was established in 1906 by Gordhandas Dutia and Jeevan Das ...
(NICL), including a former CMD, under provisions of the
Prevention of Corruption Act Prevention of Corruption Act (with its variations) is a stock short title used for legislation in India, Malaysia and the United Kingdom relating to corruption and bribery. The Bill for an Act with this short title will have been known as a Prevent ...
for
criminal conspiracy In criminal law, a conspiracy is an agreement between two or more persons to commit a crime at some time in the future. Criminal law in some countries or for some conspiracies may require that at least one overt act be undertaken in furtherance ...
and other charges. Acting on a reference from CVC in March 2005, the CBI started probing the conspiracy that led to the filing of the charge sheet on 9 December 2011. The 2005 complaint had alleged irregularities in the issuance of insurance policies — for coverage of default payments — by NICL to RIL. The charge sheet also mentioned criminal offenses with dishonest intention and causing wrongful loss totaling ₹147.41 crores to NICL and wrongful gain to the private telecom provider. Two retired senior officials of National Insurance Company Limited and 11 others were awarded varying jail terms by a Delhi court in Jan 2014.


RIL plane grounded

A business jet owned by Reliance Industries (RIL) was grounded by The Directorate General of Civil Aviation (DGCA) on 22 March 2014 during a surprise inspection, for carrying expired safety equipment on board; its pilot was also suspended for flying without a license.


Krishna Godavari (KG) Basin gas

Reliance Industries Limited (RIL) was supposed to relinquish 25% of the total area outside the discoveries in 2004 and 2005, as per the Production Sharing Contract (PSC). However, the entire block was declared as a discovery area and RIL was allowed to retain it. In 2011, the Comptroller and Auditor General of India (CAG) criticized the Oil Ministry for this decision. The CAG also faulted RIL for limiting the competition in contracts, stating that RIL awarded a $1.1 billion contract to Aker on a single-bid basis.


Petition against Reliance Jio

A PIL filed in the Supreme Court by an NGO Centre for Public Interest Litigation, through Prashant Bhushan, challenged the grant of a pan-India license to RJIL by the Government of India. The PIL alleged that RJIL was allowed to provide voice telephony along with its 4G data service, by paying an additional fee of just INR 16,580 million (US$280 million) which was arbitrary and unreasonable and contributed to a loss of INR 228,420 million (US$3.8 billion) to the exchequer. The CAG in its draft report alleged rigging of the auction mechanism, whereby an unknown ISP, Infotech Broadband Services Pvt Ltd, acquired the spectrum by bidding 5000 times its net worth, after which the company was sold to Reliance Industries.


Future Retail deal and possession

In February 2022, Reliance terminated the leases of hundreds of Future Retail locations, the next largest retail chain in India, and took possession of those brick-and-mortar shops. Future Retail had a deal to sell its assets to Reliance, but that deal was contested by Amazon.com, which in 2019 acquired a stake in a subunit of Future Retail along with certain rights with respect to the transfer of the retailer's assets. Reliance's possessions came after rounds of legal wrangling, including a 2020 arbitration in Singapore and an antitrust review by the
Competition Commission of India The Competition Commission of India (CCI) is the chief national competition regulator in India. It is a statutory body within the Ministry of Corporate Affairs and is responsible for enforcing the Competition Act, 2002 to promote competition ...
.


See also

*
List of companies of India India is a country in South Asia. It is the seventh-largest country by area, the second-most populous country (with over 1.2 billion people), and the most populous democracy in the world. In 2019, the Indian economy was the world's fif ...
*
List of largest companies by revenue This list comprises the world's largest companies by consolidated revenue, according to the ''Fortune'' Global 500 2022 rankings. American retail corporation Walmart has been the world's largest company by revenue since 2014. The list is limite ...
* List of public corporations by market capitalization *
Make in India Make in India is an initiative by the Government of India to create and encourage companies to develop, manufacture and assemble products made in India and incentivize dedicated investments into manufacturing. The policy approach was to crea ...
*
Forbes Global 2000 The ''Forbes'' Global 2000 is an annual ranking of the top 2000 public companies in the world, published by ''Forbes'' magazine. "The Global 2000" annual ranking is assembled by ''Forbes'' using a weighted assessment of four metrics: sales, profit ...
* Fortune India 500


References


External links

* {{Authority control Conglomerate companies of India Oil and gas companies of India Petrochemical companies of India Non-renewable resource companies established in 1966 Technology companies established in 1966 1966 establishments in India BSE SENSEX NIFTY 50 Natural gas companies of India 1966 establishments in Maharashtra Indian companies established in 1966 Telecommunications companies of India Companies listed on the National Stock Exchange of India Companies listed on the Bombay Stock Exchange