RELIANCE INDUSTRIES : EXPLAINED
History
Lets start with a little bit of history Reliance existence dates back to 1960s when Dhirubhai Ambani came back to India from Yamen to start an import-export business aiming to bring polyester Into India and export spices to Yamen. And in 1966 He found Reliance textile limited and created a clothing brand which was known as 'ONLY VIMAL'. This brand was a huge success and Ambani was ready to put it in on the stock exchange which again was a huge success with 2.8 million shares in IPO (Initial public offering)
With the help of that money Reliance was earning ,Dhirubhai Ambani decided to diversify the business and started :
RELIANCE CAPITAL in 1986 which is still one of the largest financial companies in India.
Continuing on , Dhirubhai Ambani had his eyes laid in petrochemical industry .By the end of 1990's Reliance built the biggest oil refinery in the world in Jamnagar , Gujarat having the daily average capacity of producing 1.24 Million barrels (19,71,44,246 liters)
Reliance infrastructure was found in 2002 to provide construction , Defense Vehicles and power
Reliance retail was found in 2006 which has about 45 subsidiaries of its own to provide things like electronics, Jewellery ,Apparel, Mobiles Entertainment , travel and education products
In 2002, Dhirubhai Ambani passed away, but the problem was that he never wrote a will before he passed away. So his eldest son Mukesh Ambani was made the chairman and MD, and youngest son Anil Ambani was made the vice chair man of the company. But both the brothers had different approaches for the company and this lead to famous rivalry between the two. So an interesting thing happened in the Corporate world that has never happened before, their mother stepped in to , resolve the conflict and split the business and Reliance was divided equally to both the brothers Now present , While Mukesh Ambani has gone way far ahead by Launching many successful companies including JIO. Anil Ambani Back in November 2019 stepped down as Chairman of reliance due to bankruptcy.
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