Reliance Family Day: Dhirubhai Ambani, Mukesh Ambani- How They Shaped Reliance

Reliance Family Day

Reliance Group is marking Reliance Family Day on December 28 on the occasion of Dhirubhai Ambani's 90th birth anniversary, who founded one of India's biggest family-owned businesses, contributing significantly to India's GDP

It All Started With
One Man's Vision

Dhirubhai Ambani started a yarn trading business, which came to be known as Reliance Commercial Corporation. In 1977, the company got listed as Reliance Textiles Ltd. The IPO created history back then when the issue was oversubscribed by seven times

1985: Reliance Renamed

In 1985, the company was renamed to Reliance Industry Ltd. Dhirubai Ambani was convinced that India could become an economic powerhouse within a short period of time

1995-1996: Reliance
Enters Telecom Industry

Between the years 1995-96, the company, in a joint venture with NYNEX, USA, entered the telecom industry as Reliance Telecom Private Limite

2002: Major Gas Discovery

Reliance discovered gas in the Krishna Godavari basin, India's first gas discovery by a private sector

2002: Dhirubhai Ambani's
Demise & Differences

Differences appeared between Mukesh Ambani and his younger brother Anil Ambani after the sudden death of their father Dhirubhai on July 6, 2002

2005: Division of Reliance Industries

In 2005, their mother Kokilaben divided Reliance assets between the two brothers

Mukesh Ambani's Share

Mukesh Ambani got the following businesses:
- Refining
- Petrochemicals
- Oil and Gas

Anil Ambani's Share

Anil Ambani got the following industries:
- Telecommunications
- Asset Management
- Entertainment
- Power-Generation Business

One Succeeds While
Other Fails

Over time, Mukesh Ambani expanded Reliance into a giant with ventures into retail and sustainable energy, as well as a return to the telecom industry with Reliance Jio, while Anil Ambani's industrial empire fell apart

Mukesh Ambani
Continues RIL's Legacy

Mukesh Ambani, the elder son of Dhirubhai Ambani, continued the legacy of RIL. He was the driving force behind the company's spectacular transition from textiles to fibre, then to petrochemicals, refining and energy

2005-2006: Four
Major Entities

In these two years, the company came to identify four separate businesses: Power generation, Power distribution, financial services and telecommunications

2006: Reliance
Enters Retail Market

Reliance marked its entry into the organised retail market in India through the launch of Reliance Fresh

2010: Reliance Broadband

Reliance entered the broadband sector with Infotel broadband services limited

2010: Oil And Gas
Business

Reliance announced a partnership with Bharat Petroleum, marking an entry into the oil and gas public sector industry

2013: 1466 Retail Stores
Owned By Reliance

In March 2013, Reliance Retails had as many as 1466 stores nationwide. The business became the largest in India, having brands like Reliance Footprint, Reliance Trends, Reliance Digital, and Reliance Home Kitchen, among many more

2016: Third-Generation
Takeovers

Reliance Jio, a telecom venture with Mukesh Ambani's children Isha Ambani and Akash Ambani as directors, became an overnight hit

Isha and Akash
Ambani's Jio

Mukesh Ambani launched Jio at the AGM on September 1, 2016. With Jio, voice calling, messaging, and roaming were free and data plans were 1/10th of market prices

2019: Mukesh Reorganises Top Stakes

Mukesh Ambani has been gradually reorganising Reliance's top hierarchy since 2019 to strengthen governance to par with international norms

2020: Funds Raised
for Reliance Jio

For the calendar year 2020, the conglomerate raised funds to the tune of $20 billion for its digital services arm Jio Platforms, followed by another $6 billion for Reliance Retail Ventures

Investors Who Joined
Hands With Reliance

There were impressive names among the investors, including Facebook, Google, TPG, Silver Lake, KKR, Abu Dhabi Investment Authority (ADIA), and Saudi Arabia's sovereign Public Investment Fund (PIF)

Elon Musk to Parag Agrawal: Tech Bosses Who Became Newsmakers in 2022

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