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Concept
Reliance Industries
Résumé
Reliance Industries Limited is an Indian multinational conglomerate, headquartered in Mumbai. Its businesses include energy, petrochemicals, natural gas, retail, telecommunications, mass media, and textiles. Reliance is the largest public company in India by market capitalisation and revenue, and the 100th largest company worldwide. It is India's largest private tax payer and largest exporter, accounting for 7% of India's total merchandise exports. The company has relatively little free cash flow and high corporate debt.
The company was involved in a family feud and has faced controversies for cronyism and natural resources.
Reliance Commercial Corporation was set up in 1958 by Dhirubhai Ambani as a small venture firm trading commodities, especially spices and polyester yarn. In 1965, the partnership ended and Dhirubhai continued the polyester business of the firm. In 1966, Reliance Textiles Industries Pvt. Ltd. was incorporated in Maharashtra. It established a synthetic fabrics mill in the same year at Naroda in Gujarat. On 8 May 1973, it became Reliance Textiles 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 (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.
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 yarn 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.
Source officielle
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