Business

10 Mind-Blowing Facts About Reliance Industries

Reliance Industries is the largest company in India in terms of the capital. The current market capital of Reliance is more than 16 Lacs crore (Just imagine!) 

Before getting started with the facts, let’s learn a bit about the commencement of Reliance Industries. Reliance Industries was formed on 8th May 1973 in Maharashtra by Dhirubhai Ambani at the age of 41. In the year 1977, Reliance Industries was made public and became the largest company in India over the years.

Let’s learn some mind-blowing facts about Reliance Industries now. 

  1. Dhirubhai Ambani used to stay in Yemen with his father, who was a teacher and worked as a petrol pump attendant. His ambition drove him to India in 1958, where he started a textile business “Majlin,” which was engaged in the export of spices to Yemen and import of polyester. 
  2. Nowadays, it’s common for investors to wait for hot IPOs. But do you know that Reliance Industries brought the first-ever IPO in India? It was in the year 1977 that Reliance Textile Industries brought the first IPO in India and introduced equity culture to Indians.
  3. Reliance Industries built Asia’s largest mango-producing farm named Dhirubhai Ambani Lakhibargh Amrayee. The purpose of the mango production business was to cut down the pollution generated by a Reliance oil refinery in Jamnagar. 
  4. Cell phones were considered a luxury good in India. But in the year 2002, Reliance Industries revolutionised the telecom industry by providing affordable phones and making incoming calls free. The “Karlo duniya mutthi mein” scheme was an instant hit.
  5. The death of Dhirubhai Ambani in 2002 led to a feud between the two Ambani sons due to the lack of any “inheritance will”. So, in 2005, there was a demerger that helped in the distribution of the business between the Ambani brothers. As the feud between two brothers was affecting the Indian financial market, the then Finance Minister “Pranab Mukherjee” pitched in to settle the disputes.
  6. In 2019, when Reliance Industries, owned by Mukhesh Ambani, introduced Jio, it brought India on top of the mobile consumption data list. For the initial 6 months, they gave calling and data free to the subscribers and reached the 5 crore subscribers mark in just 83 days.
  7. Reliance Industries was the first company to put India on the world-renowned Fortune 500 list. Being listed on the Fortune 500 list is very prestigious; so, in 2004 when Reliance made the Fortune 500 list, it was a proud moment for India.
  8. Mukesh Ambani saved his brother Anil Ambani from going to prison in the year 2019  by helping him clear his dues. Reliance Communications, owned by Anil Ambani, owed INR 453 crore to Ericsson, for which Anil was about to be imprisoned. But Mukesh Ambani helped him clear the dues.
  9. Reliance Industries has several businesses, from convenience stores, clothing lines, communication to refineries. Now Reliance Industries is getting into the internet service through “JioFiber”. They are ready to revolutionise the internet service game by providing super-speed internet at a reasonable cost.
  10. Reliance is still India’s largest exporter. Reliance exports to nearly 108 markets and accounts for nearly 8% of India’s total merchandise export.

Reliance Industries is in a lot of businesses, which makes it quite likely that you are using some Reliance products in your daily life. The vastness of Reliance Industries has helped in the creation of a lot of employments in India. If you want to build wealth, you can start investing online in Reliance shares. RIL share price has varied from Rs. 1255 to Rs. 2290 in last 3 year which makes it one of the good performing stock to invest build your retirement funds. 

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