Reliance Industries Limited
Company History
Reliance Industries History: Founding, Growth & Key Milestones
Founded 1966 in Mumbai, Maharashtra, India
When was Reliance Industries founded?
Reliance Industries was founded in 1966 in Mumbai, Maharashtra, India by Dhirubhai Ambani and Mukesh Ambani, making it 60 years old.
- Founded
- 1966
- Founding place
- Mumbai, Maharashtra, India
- Founders
- Dhirubhai Ambani and Mukesh Ambani
- Headquarters today
- Mumbai, Maharashtra, India
- Milestones documented
- 12 (1966–2026)
- Current CEO
- Mukesh D. Ambani
- Acquisitions
- 6
| Year | Event |
|---|---|
| 1966 | Reliance Commercial Corporation is founded |
| 1977 | Reliance goes public |
| 1999 | Jamnagar refining complex commissioned |
| 2002 | Death of Dhirubhai Ambani |
| 2005 | Group Divided Between the Ambani Brothers |
| 2006 | Reliance Retail launches |
| 2016 | Jio launches commercial telecom service |
| 2020 | Jio Platforms attracts strategic investors |
| 2021 | Acquired REC Solar Holdings |
| 2022 | New Energy investment ramps up |
| 2026 | FY2026 gross revenue reaches $124 billion |
| 2026 | Jio Platforms IPO approved by SEBI |
- Where was Reliance Industries founded?
- Reliance Industries was founded in Mumbai, Maharashtra, India in 1966.
- Who founded Reliance Industries?
- Reliance Industries was founded by Dhirubhai Ambani and Mukesh Ambani.
- When did Reliance Industries start?
- Reliance Industries was founded in 1966.
- How old is Reliance Industries?
- Reliance Industries is 60 years old as of 2026.
Founding Story
Dhirubhai Ambani worked in Aden, Yemen, before returning to India in 1958 and starting a yarn and spice trading business in Mumbai. In 1966 he set up a textile mill at Naroda, Gujarat, and built the Vimal brand. Reliance's 1977 public issue drew a large base of small retail shareholders, and the company integrated backward into polyester, petrochemicals and refining. After his death in 2002, his sons Mukesh and Anil split the group in 2005, with Mukesh keeping Reliance Industries.
Founders
Dhirubhai Ambani
Dhirubhai Ambani founded Reliance as a trading firm and, in 1966, opened a textile mill at Naroda, Gujarat. He built the Vimal fabric brand, took Reliance public in 1977 with a large base of small shareholders, and pushed the company backward into polyester, petrochemicals and refining. He led the company until his death in 2002. He was born Dhirajlal Hirachand Ambani on December 28, 1932 and died on July 6, 2002. He took Reliance public in 1977. In 2016 he was posthumously awarded the Padma Vibhushan, India's second-highest civilian honour. Dhirubhai Ambani was born in 1932.
Mukesh Ambani
Mukesh Ambani oversaw Reliance's petrochemical expansion and the Jamnagar refinery, commissioned in 1999. He became Chairman after his father's death in 2002 and kept Reliance Industries in the 2005 family split. He then launched Reliance Retail (2006), Jio (2016) and the new-energy business (2021), and in 2026 began the Jio Platforms IPO. Mukesh Ambani was born in 1957 in Aden. Education: Stanford Graduate School of Business. Mukesh Dhirubhai Ambani was born on April 19, 1957 in Aden to Dhirubhai and Kokilaben Ambani. He studied at St. Xavier's College, Mumbai, before the Institute of Chemical Technology.
Key Milestones
Reliance Commercial Corporation is founded
Dhirubhai Ambani began Reliance as a trading business that later moved into textiles, polyester, petrochemicals, refining, retail, telecom, and digital platforms.
Source: en.wikipedia.orgReliance goes public
Reliance's public-market strategy helped build a large retail shareholder base and financed industrial expansion.
Source: en.wikipedia.orgJamnagar refining complex commissioned
The Jamnagar complex became the foundation of Reliance's oil-to-chemicals scale and global energy economics.
Source: en.wikipedia.orgDeath of Dhirubhai Ambani
Founder Dhirubhai Ambani died in July 2002 and his sons Mukesh and Anil took over the group.
Source: en.wikipedia.orgGroup Divided Between the Ambani Brothers
The Reliance group was divided in 2005. Mukesh Ambani kept Reliance Industries and Anil Ambani took the telecom, power and financial businesses.
Source: en.wikipedia.orgReliance Retail launches
Reliance entered organized retail, building one of India's largest consumer distribution platforms.
Source: rilstaticasset.akamaized.netJio launches commercial telecom service
Jio's launch reshaped Indian mobile data pricing and turned Reliance into a consumer digital-services platform.
Source: rilstaticasset.akamaized.netJio Platforms attracts strategic investors
Global technology and financial investors backed Jio Platforms, validating the telecom and digital ecosystem strategy.
Source: rilstaticasset.akamaized.netAcquired REC Solar Holdings
Reliance Industries Limited acquired REC Solar Holdings for $771 million.
Source: en.wikipedia.orgNew Energy investment ramps up
Reliance increased investment in solar, batteries, hydrogen, and materials as part of its net-zero and industrial transition plan.
Source: rilstaticasset.akamaized.netFY2026 gross revenue reaches $124 billion
Reliance reported FY2026 gross revenue of Rs 1,175,919 crore, or about $124 billion, with profit after tax of about $10.1 billion.
Source: ril.comJio Platforms IPO approved by SEBI
SEBI approved the Jio Platforms IPO on August 28, 2026, after the draft prospectus was filed on June 19, 2026.
Source: livemint.comMajor Acquisitions
Network18
2014Reliance acquired control of Network18 to gain media distribution, news, entertainment, digital publishing, and advertising capabilities that could support a future telecom and content ecosystem.
Hamleys
2019Reliance Brands acquired Hamleys to enter global toy retail and strengthen its premium and specialty retail portfolio.
Justdial
2021Reliance Retail acquired control of Justdial to add local search, merchant listings, discovery data, and small-business relationships to its commerce ecosystem.
REC Solar Holdings
2021Reliance acquired REC Solar to gain solar manufacturing technology, brand credibility, and global expertise for its new-energy manufacturing plans.
Faradion
2021Reliance acquired Faradion to obtain sodium-ion battery technology that could support storage, mobility, and renewable-energy integration.
Metro Cash & Carry India
2022Reliance Retail acquired Metro's India cash-and-carry business to strengthen wholesale, kirana relationships, store infrastructure, and business-to-business retail capabilities.
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Reliance Industries Company History FAQ
What are the major historical milestones in the evolution of Reliance Industries Limited?
Key historical milestones include founding in 1966 by Dhirubhai Ambani, historic IPO in 1977, opening Naroda and Patalganga petrochemical complexes in the 1980s, commissioning Jamnagar Refinery in 1999, Mukesh Ambani becoming Chairman in 2002, launching Reliance Retail in 2006, commercial launch of Jio in 2016, raising $35B during 2020 to become net debt-free, launching $10B Green Energy Complex in 2021, and the $8.5B Disney merger in 2024.
How did the commissioning of the Jamnagar Refinery in 1999 transform global energy markets?
Commissioned in 1999 months ahead of schedule and under budget, the Jamnagar Refinery in Gujarat became the largest grassroots refinery on Earth, transforming India from a net importer of petroleum products into a major global exporter of high-grade transportation fuels.
How did Reliance launch Reliance Retail in 2006 with the 'Reliance Fresh' supermarket chain?
In November 2006, Mukesh Ambani launched Reliance Retail, opening the first 'Reliance Fresh' supermarket in Hyderabad, pioneering direct farmer procurement and modern temperature-controlled cold chains across India.
What was the landmark discovery of natural gas in the deepwater KG-D6 basin in 2002?
In 2002, Reliance made the largest deepwater natural gas discovery in the world in over three decades in the Krishna Godavari basin (KG-D6) off the coast of Andhra Pradesh, producing clean energy to power Indian power plants and fertilizer factories.
How did Reliance handle the 2020 global pandemic to raise ₹2.6 lakh crore ($35B USD)?
In spring 2020, amidst nationwide COVID-19 lockdowns, Mukesh Ambani executed the largest capital-raising marathon in corporate history: securing multi-billion-dollar investments from Meta, Google, KKR, Silver Lake, and Saudi PIF for Jio Platforms and Reliance Retail alongside a ~$6.16 billion (₹53,124 crore) rights issue, rendering RIL completely net debt-free.
When did Reliance Industries surpass the milestone of ~$232 billion (₹20 lakh crore) in market capitalization?
In early 2024, Reliance Industries became the very first Indian corporation in history to surpass ₹20 lakh crore ($240B+ USD) in market capitalization on the Bombay Stock Exchange, solidifying its place among the most valuable global conglomerates.
How is Reliance building the world's largest green energy ecosystem in Jamnagar?
At the Dhirubhai Ambani Green Energy Giga Complex in Jamnagar, Reliance is constructing integrated manufacturing plants for solar PV, sodium-ion/LFP batteries, green hydrogen electrolyzers, and fuel cells to establish India as a net exporter of clean energy by 2035.
What is Reliance Industries Limited's strategic vision for India and the world?
Reliance's enduring vision is to power India's rise to become a $10 trillion economy, democratizing digital access and artificial intelligence through Jio, empowering 1.4 billion consumers through Reliance Retail, and leading the world's clean renewable energy transition.
When and where was Reliance Industries founded?
Reliance Industries traces its origins to 1958 in Mumbai, Maharashtra, India, when Dhirubhai Ambani and cousin Champaklal Damani established Reliance Commercial Corporation to trade spices and polyester yarn.
What was the breakthrough of the Vimal textile brand in the 1970s?
In 1966, Dhirubhai Ambani established a modern synthetic textile mill in Naroda, Gujarat, launching the iconic fabric brand "Vimal", which popularized polyester suiting across India under the slogan "Only Vimal".
How did Reliance revolutionize India’s equity capital markets in 1977?
Reliance completed its historic initial public offering in 1977, attracting over 58,000 retail shareholders and pioneering equity cult investing in India by consistently rewarding middle-class investors with high dividends and bonus shares.
What was the engineering feat of the Jamnagar refinery complex?
Commissioned in 1999 and expanded in 2008 in Jamnagar, Gujarat, Reliance built the world’s largest refining complex (processing 1.24 million barrels of crude oil daily), integrating petrochemicals and deep-water ports into an unmatched industrial marvel.
How was Reliance divided between Mukesh and Anil Ambani in 2005?
Following the death of Dhirubhai Ambani in 2002, a family settlement in 2005 divided the group: elder brother Mukesh Ambani retained refining, petrochemicals, and textiles (RIL), while younger brother Anil Ambani received telecom, power, and financial services.
How did Mukesh Ambani transform Reliance into a consumer-facing giant?
Between 2006 and 2016, Mukesh Ambani launched Reliance Retail (now India’s largest retailer with 18,500+ stores) and invested over $35 billion to create Reliance Jio, fundamentally pivoting Reliance from an oil giant to a digital consumer empire.
What is the $10 billion New Energy transition plan announced in 2021?
Reliance committed over $10 billion (₹75,000+ crore) to build the Dhirubhai Ambani Green Energy Giga Complex in Jamnagar, constructing giga-factories for solar photovoltaic modules, green hydrogen electrolyzers, energy storage batteries, and fuel cells.
How is the Ambani family planning executive leadership succession?
Mukesh Ambani introduced a formalized generational succession plan: Akash Ambani leads digital telecommunications (Jio), Isha Ambani leads organized retail (Reliance Retail), and Anant Ambani leads new energy and petrochemical operations.
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