History Of Reliance Industries Company


  On 8th May the company was incorporated in Karnataka state as a public limited company under the name Mynylon Ltd.  to manufacture synthetic blended yarns and fabrics, polyester filament yarn, polyester glass shells and colour TV picture tubes.


  On 28th June this company was converted into a public limited company.

  On 11th February 1966 a company by name of Reliance Textiles Industries Pvt Ltd was incorporated in Maharashtra.  It established a synthetic fabrics mill in the same year at Naroda in Gujarat. On 1st July, Reliance Textile Industries Ltd, was amalgamated with Mynylon Ltd.


  With effect from 11th March 1st the name of Mynylon Ltd was changed to Reliance Textiles Industries Ltd.  The company manufactures synthetic blended yarns and fabrics polyester filament yarn polyester staple fibre chemicals and allied products colour TV glass shells
 and colour TV picture tubes.  The Company's yarns are marketed under various brand names such as Texalit, Textron, Texlene, Poly dyed and polytwist.  The company's fabrics are marketed under the brand name VIMAL.

  On November Dhirajlal H Ambani and Natvarlal H Ambani along with some other existing shareholders offered for sale at par to the public. 28,20,000 equity shares of the Company in order to get the shares of the company listed on the stock Exchange at Mumbai.

When Dhirubhai embarked on his first business venture, he had a seed capital of barely US$ 300 (around Rs 14,000). Over the next three and a half decades, he converted this fledgling enterprise into a Rs 60,000 crore colossus—an achievement which earned Reliance a place on the global Fortune 500 list, the first ever Indian private company to do so.
Dhirubhai was never one to rest on his laurels. In the early 80s, he had taken the first
important step in strategic backward integration for Reliance with the commissioning of the
Patalganga plant which initially manufactured polyester filament yarn and polyester staple fibre.
In 1991, he set up Reliance Hazira, for the manufacture of petrochemicals—the next link in the
backward integration chain. At the time, Reliance Hazira represented the single largest
investment made by a private sector group in India at a single location.
Meanwhile, Dhirubhai had firmed up plans of setting up a massive grassroots refinery—the next
big leap in his overall strategic roadmap for Reliance. Conceived as the world’s largest grassroots
refinery at the time, Jamnagar in Gujarat was to have an annual capacity of 27 million tonnes.
In the face of formidable challenges, including a massive cyclone that flattened the project site
mid-way through construction, Reliance commissioned the Jamnagar facility in 1999. It was a
fully integrated refinery, complete with a dedicated port and a captive supply of power.

The refinery was not only commissioned ahead of schedule, but also set up at a cost that was
significantly lower than the prevailing global benchmark for a project of such magnitude.
It was one of Dhirubhai’s great dreams in life to see ordinary Indians enjoy the enormous
economic benefits of being able to access affordable yet world class telecommunications
infrastructure. He wanted Reliance to spearhead a communications revolution that would
dramatically cut down the cost of connectivity, and propel India into the digital age. His ultimate
ambition: To make the cost of a phone call cheaper than that of a post card. It was therefore
entirely logical for Reliance to enter the telecommunications space when the sector was opened
up for private participation in the 1990s.

The rest, as they say, is history.

Today, Reliance Communications is India’s largest information and communications services
provider with over 20 million subscribers, and offers the full range of integrated telecom
services—at prices that are, by far, the lowest anywhere in the world.

Dhirubhai left for his heavenly abode on July 6, 2002.