66-515: Dhirajlal (Dhirubhai) Hirachand Ambani (28 December 1932 – 6 July 2002) was an Indian billionaire businessman who founded Reliance Industries in 1958. Ambani took Reliance public in 1977. In 2016, he was honoured posthumously with the Padma Vibhushan , India's second-highest civilian honour for his contributions to trade and industry. Ambani faced numerous accusations of market manipulation , tax evasion , and cronyism . Dhirubhai Ambani
132-1096: A joint venture with Russian Company Sibur for setting up a Butyl rubber plant in Jamnagar , Gujarat , to be operational by 2018. In August 2019, Reliance added Fynd primarily for its consumer businesses and mobile phone services in the e-commerce space. In December 2022, Reliance Industries Market cap stood at Rs.17,59,017.23 crore. In February 2024, Reliance Industries Ltd. and The Bharat GPT group announced that it will launch large language model (LLM), Hanuman's AI system in March 2024. The model will work in 11 local languages in four major areas: health , governance , financial services and education . In March 2024, Reliance Industries partnered with Disney to introduce Reliance-Disney OTT platform. On 24 October 2024, Nvidia to supply chips to Reliance, other Indian companies in AI push . The number of shares of RIL are approx. 644.51 crore (6.44 billion). The promoter group,
198-502: A plutocrat . In May 2014, ONGC moved to Delhi High Court accusing RIL of pilferage of 18 billion cubic metres of gas from its gas-producing block in the Krishna Godavari basin . Subsequently, the two companies agreed to form an independent expert panel to probe any pilferage. Seminar magazine (2003) detailed Reliance founder Dhirubhai Ambani's proximity to politicians, his enmity with Bombay Dyeing 's Nusli Wadia ,
264-479: A plutocrat . Reliance Commercial Corporation was set up in 1958 by Dushyant Corporation (DC Group of Company) 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
330-557: A 14-floor apartment block called 'Sea Wind' in Colaba , where Ambani and his brother lived with their families on different floors. Ambani attended the Hill Grange High School at Peddar Road , Mumbai , along with his brother and Anand Jain , who later became his close associate. After his secondary schooling, he studied at St. Xavier's College, Mumbai . He then received a BE degree in chemical engineering from
396-645: A 160-car garage, private movie theatre, swimming pool, and fitness centre. Ambani was titled "The World's Richest Sports Team Owner" after he purchased the IPL cricket team Mumbai Indians for $ 111.9 million in 2008. Mukesh Ambani is a strict vegetarian and teetotaler . During the fiscal year ending 31 March 2012, he reportedly decided to forgo nearly ₹240 million from his annual pay as chief of Reliance Industries Ltd (RIL). He elected to do this even as RIL's total remuneration packages to its top management personnel increased during that fiscal year. Mukesh Ambani holds
462-459: A 50.4% stake in the company. This move kept his salary capped at ₹150 million for the fourth year in a row. In early 2019, a court in Mumbai held his younger brother, Anil Ambani , in criminal contempt for non-payment of personally guaranteed debt Reliance Communications owed to Swedish gearmaker Ericsson . Instead of jail time, the court gave Anil a month to come up with the funds. At the end of
528-766: A 7.7% stake in Jio Platforms for ₹33,737 crore. Mukesh Ambani has named his son, Akash Mukesh Ambani as the chairperson of Jio in 2022. Reliance Retail is the retail business wing of the Reliance Industries. In March 2013, it had 1466 stores in India. It is the largest retailer in India. Many brands like Reliance Fresh , Reliance Footprint , Reliance Time Out, Reliance Digital , Reliance Wellness, Reliance Trends, Reliance Autozone, Reliance Super, Reliance Mart, Reliance iStore, Reliance Home Kitchens, Reliance Market (Cash n Carry) and Reliance Jewel come under
594-658: A fully diluted basis. Further in May 2020, RIL sold roughly 1.15% stake in Jio Platforms for ₹ 5,656 crore (US$ 680 million) to the American private equity investor, Silver Lake Partners . Intel became the 12th company to invest in Reliance Jio platforms after it invested ₹1,894.50 crore ($ 250 million), the total investments in Jio platforms is ₹117,588.45 crore so far. On 16 July 2020, Google announced that it will acquire
660-831: A gas station as a petrol vendor. Ambani returned to India and started "Majin" in partnership with Champaklal Damani, his second cousin, who lived with him in Yemen. Majin was to import polyester yarn and export spices to Yemen. The first office of the Reliance Commercial Corporation was set up at the Narsinatha Street in Masjid Bunder . It was a 350 sq ft (33 m) room with a telephone, one table and three chairs. Initially, they had two assistants to help them with their business. During this period, Ambani and his family stayed in
726-624: A license. Reliance Industries Limited (RIL) was supposed to relinquish 25% of the total area outside the discoveries in 2004 and 2005, as per the Production Sharing Contract (PSC). However, the entire block was declared as a discovery area and RIL was allowed to retain it. In 2011, the Comptroller and Auditor General of India (CAG) criticized the Oil Ministry for this decision. The CAG also faulted RIL for limiting
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#1732783111640792-484: A net worth of $ 119.5 billion. Ambani was born on 19 April 1957 in the British Crown colony of Aden (present-day Yemen ) into a Gujarati Hindu family to Dhirubhai Ambani and Kokilaben Ambani. He has a younger brother Anil Ambani and two sisters, Nina Bhadrashyam Kothari and Dipti Dattaraj Salgaonkar. Ambani lived only briefly in Yemen because his father decided to move back to India in 1958 to start
858-646: A net worth of $ 44.3 billion in July 2018. He is also the wealthiest person in the world outside North America and Europe. As of February 2018, Bloomberg's "Robin Hood Index" estimated that Ambani's personal wealth was enough to fund the operations of the Indian federal government for 20 days. Through Reliance, he also owns the Indian Premier League franchise Mumbai Indians and is the founder of
924-477: A reference from CVC in March 2005, the CBI started probing the conspiracy that led to the filing of the charge sheet on 9 December 2011. The 2005 complaint had alleged irregularities in the issuance of insurance policies — for coverage of default payments — by NICL to RIL. The charge sheet also mentioned criminal offenses with dishonest intention and causing wrongful loss totaling ₹147.41 crores to NICL and wrongful gain to
990-668: A solution to this situation, the Bombay Stock Exchange was closed for three business days. Authorities from the Bombay Stock Exchange (BSE) intervened in the matter and brought down the "Unbadla" rate to ₹ 2 with a stipulation that the Bear Cartel had to deliver the shares within the next few days. The Bear Cartel bought shares of Reliance from the market at higher price levels and it was also learnt that Dhirubhai Ambani himself supplied those shares to
1056-506: A technology company, is a majority-owned subsidiary of RIL. It has a valuation of more than US$ 100 billion on expert view as of October 2022. It is the result of a corporate restructuring announced in October 2019, resulting in all the digital initiatives and the telecommunication assets being housed under this new subsidiary. This new subsidiary holds all the digital business assets including Reliance Jio Infocomm Ltd , which in turn holds
1122-497: A trading business that focused on spices and textiles. The latter was originally named "Vimal" but later changed to "Only Vimal". His family lived in a modest two-bedroom apartment in Bhuleshwar , Mumbai until the 1970s. The family's financial status slightly improved when they moved to India but Ambani still lived in a communal society , used public transportation , and never received an allowance. Dhirubhai later purchased
1188-464: A two-bedroom apartment at the Jai Hind Estate in Bhuleshwar , Mumbai. In 1965, Champaklal Damani and Dhirubhai Ambani ended their partnership and Ambani started on his own. It is believed that both had different temperaments and different takes on how to conduct business. In 1988, Reliance Industries came up against a rights issue regarding partly convertible debentures. It was rumoured that
1254-400: A yarn manufacturing project in his company. Ambani was influenced by his teachers William F. Sharpe and Man Mohan Sharma because they are "the kind of professors who made you think out of the box." Mukesh Ambani set up Reliance Infocomm Limited (later Reliance Communications Limited ), which was focused on information and communications technology initiatives. At the age of 24, Ambani
1320-494: Is Akash's twin. They met after his father attended a dance performance which Nita took part in and thought of the idea of arranging a marriage between the two. They live in Antilia , a private 27-storey building in Mumbai, which was valued at US$ 1 billion and was the most expensive private residence in the world at the time it was built. The building requires a staff of 600 for maintenance, and it includes three helipads,
1386-459: Is a mass media company. It has interests in television, digital platforms, publication, mobile apps and films. It also operates two joint ventures, namely Viacom18 and History TV18 with Viacom and A+E Networks respectively. It has also acquired a partial part of ETV Network and since renamed its channels under the Colors TV brand. In March 2017, Reliance Industries Ltd (RIL) completed
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#17327831116401452-557: Is a part of Ambani's leadership transition. Reliance Industrial Infrastructure Limited (RIIL) is an associate company of RIL. It was incorporated in September 1988 as Chembur Patalganga Pipelines Limited, with the main objective being to build and operate cross-country pipelines for transporting petroleum products. The company's name was subsequently changed to CPPL Limited in September 1992, and thereafter to its present name, Reliance Industrial Infrastructure Limited, in March 1994. RIIL
1518-550: Is an Indian billionaire businessman who is the chairman and managing director of Reliance Industries . He is the richest person in Asia and 9th richest in the world . Sometimes characterized as a plutocrat , he has attracted both fame and notoriety for reports of market manipulation, political corruption, cronyism, and exploitation. In October 2024, Ambani was ranked 1st on the Forbes list of India’s 100 richest tycoons, with
1584-593: Is equivalent to two equity shares of the company. Approximately 3.46% of its total shares are listed on Luxembourg Stock Exchange. Its debt securities are listed at the Wholesale Debt Market (WDM) Segment of the National Stock Exchange of India Limited (NSE). It has received domestic credit ratings of AAA from CRISIL (S&P subsidiary) and Fitch. Moody's and S&P have provided investment grade ratings for international debt of
1650-491: Is mainly engaged in the business of setting up and operating industrial infrastructure. The company is also engaged in related activities involving leasing and providing services connected with computer software and data processing. Between 2011 and 2014, Reliance acquired majority stake in Network18 Group . Though Network18, Reliance owns multiple news channels including CNN-News18 and News18 India . Network 18
1716-499: 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 attracted controversy for reports of political corruption , cronyism , fraud, financial manipulation , and exploitation of its customers, Indian citizens, and natural resources. Its chairman, Mukesh Ambani , has been described as
1782-472: The Antilia building and Jio Convention Center in Mumbai . It had been described as India's "wedding of the year" and "India’s own royal wedding". The New York Times described it as introducing "the world to [India]'s Gilded Age ". Estimates for the wedding's cost range from $ 300 million to $ 600 million, and had led to criticism regarding wealth inequality in India . Anant Ambani recently donated
1848-506: The Indian Super League , a football league in India. For manipulating shares of Reliance Petroleum Limited (RPL), Reliance Industries was fined Rs. 950 crores (9.5 billion), split into 447 crores (4.47 billion) in retracted gains and 500 crores (5 billion) in interest in 2007. In April 2006, RPL went public as a Reliance subsidiary for Rs. 60 per share. The market crashed by 30% after it floated at roughly Rs. 100, and RPL
1914-500: The Institute of Chemical Technology . Ambani later enrolled for an MBA at Stanford University (where Steve Ballmer was his classmate ) but withdrew in 1980 to help his father build Reliance, which at the time was still a small but fast-growing enterprise. His father felt that real-life skills were harnessed through experiences and not by sitting in a classroom, so he called his son back to India from Stanford to take command of
1980-572: The Krishna Godavari basin ) in nearly three decades and one of the largest gas discoveries in the world during 2002. The in-place volume of natural gas was more than 7 trillion cubic feet, equivalent to about 120 crore (1.2 billion) barrels of crude oil. This was the first-ever discovery by an Indian private sector company. In 2002–03, RIL purchased a majority stake in Indian Petrochemicals Corporation Ltd. (IPCL), India's second largest petrochemicals company, from
2046-499: The Ambani family, holds 50.39% of the total shares whereas the remaining 49.61% shares are held by public shareholders, including FII and corporate bodies. Life Insurance Corporation of India , public sector company, is the largest non-promoter investor in the company, with 6.49% shareholding. In January 2012, the company announced a buyback program to buy a maximum of 12 crore (120 million) shares for ₹10,400 crore (US$ 1.5 billion). By
Dhirubhai Ambani - Misplaced Pages Continue
2112-401: The Bear Cartel and earned a healthy profit out of The Bear Cartel's adventure. After this incident, many questions were raised by his detractors and the press. Not many people were able to understand how a yarn trader until a few years ago was able to get in such a huge amount of cash flow during a crisis period. The answer to this was provided by the then finance minister, Pranab Mukherjee in
2178-505: The Indian capital markets into a period of uncertainty unsurpassed since the days of the securities scam were: The Central Bureau of Investigation (CBI) filed a charge sheet in a Mumbai court against Reliance Industries Limited (RIL) and four retired employees of National Insurance Company Limited (NICL), including a former CMD, under provisions of the Prevention of Corruption Act for criminal conspiracy and other charges. Acting on
2244-404: The Jio connectivity business - mobile, broadband and enterprise, and also the other digital assets (Jio Apps, Tech backbone and Investments in other tech entities like Haptic, Hathway and Den Networks among others). In April 2020, RIL announced a strategic investment of ₹ 43,574 crore (US$ 5.2 billion) by Facebook into Jio Platforms. This investment translated into a 9.99% equity stake, on
2310-625: The Parliament. He informed the house that a Non-Resident Indian had invested up to ₹ 220 million in Reliance during 1982–83. These investments were routed through many companies like Crocodile, Lota and Fiasco. These companies were primarily registered in Isle of Man . All the promoters or owners of these companies had a common surname Shah . An investigation by the Reserve Bank of India in
2376-511: The Reliance Retail brand. Its annual revenue for the financial year 2012–13 was ₹ 108 billion (US$ 1.3 billion) with an EBITDA of ₹ 780 million (US$ 9.3 million). Its market value is more than $ 60 billion. Mukesh Ambani stepped down from the position of chairperson of Reliance Retail and handed over the job to his daughter Isha Ambani Piramal. Ambani announced it during the 45th Reliance AGM, in 2022. As per reports, this act
2442-420: The age of 69. The country has lost iconic proof of what an ordinary Indian fired by the spirit of enterprise and driven by determination can achieve in his own lifetime. This new star, which rose on the horizon of the Indian industry three decades ago, remained on the top until the end by virtue of his ability to dream big and translate it into reality through the strength of his tenacity and perseverance. I join
2508-568: 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
2574-418: The company was making all efforts to ensure that their stock prices did not slide an inch. Sensing an opportunity, The Bear Cartel, a group of stock brokers from Calcutta , started to short sell the shares of Reliance. To counter this, a group of stock brokers until recently referred to as "Friends of Reliance" started to buy the short-sold shares of Reliance Industries on the Bombay Stock Exchange . To find
2640-660: The company, as Baa2 positive outlook (local currency issuer rating) and BBB+ outlook respectively. On 28 December 2017, RIL announced that it will be acquiring the wireless assets of Anil Ambani -led Reliance Communications for about ₹23,000 crores. The company's petrochemical , refining , and oil and gas-related operations form the core of its business; other divisions of the company include cloth, retail, telecommunications, and special economic zone (SEZ) development. In 2012–13, it earned 76% of its revenue from refining, 19% from petrochemicals, 2% from oil & gas and 3% from other segments. In July 2012, RIL informed that it
2706-598: The competition in contracts, stating that RIL awarded a $ 1.1 billion contract to Aker on a single-bid basis. A PIL filed in the Supreme Court by an NGO Centre for Public Interest Litigation, through Prashant Bhushan, challenged the grant of a pan-India license to RJIL by the Government of India. The PIL alleged that RJIL was allowed to provide voice telephony along with its 4G data service, by paying an additional fee of just INR 16,580 million (US$ 280 million) which
Dhirubhai Ambani - Misplaced Pages Continue
2772-453: The construction of the integrated petrochemical complex at Jamnagar in Gujarat , the largest refinery in the world. In 2001, Reliance Industries Ltd. and Reliance Petroleum Ltd. became India's two largest companies in terms of all major financial parameters. In 2001–02, Reliance Petroleum was merged with Reliance Industries. In 2002, Reliance announced India's biggest gas discovery (at
2838-450: The death of Dhirubhai Ambani, the group was split into Reliance Industries Limited headed by Mukesh, and Reliance Anil Dhirubhai Ambani Group headed by Anil. So finally Mukesh Ambani was elected as the CEO and Anil Ambani was elected as the chairperson. As of 2017, the company had more than 250,000 employees. In 2012, Reliance Industries was one of the two Indian companies to be ranked among
2904-553: The end of January 2013, the company had bought back 4.62 crore (46.2 million) shares for ₹ 3,366 crore (US$ 400 million). The company's equity shares are listed on the National Stock Exchange of India Limited (NSE) and the BSE Limited. The Global Depository Receipts (GDRs) issued by the company are listed on London Stock Exchange . It has issued approx. 5.6 crore (56 million) GDRs wherein each GDR
2970-504: The exposes by the Indian Express and Arun Shourie about illegal imports by the company and overseas share transactions by shell companies, and the botched attempt to acquire Larsen & Toubro . As early as 1996, Outlook magazine addressed other controversies related to fake and switched shares; insider trading; and a nexus with the state-owned Unit Trust of India . Five main allegations concerning Reliance, which have plunged
3036-421: The first non-American to be on its board. As of 2016, Ambani was ranked as the 36th richest person in the world and has consistently held the title of India's richest person on Forbes magazine's list for the past ten years. He is the only Indian businessman on Forbes ' list of the world's most powerful people. He surpassed Jack Ma , executive chairman of Alibaba Group , to become Asia's richest person with
3102-467: The government of India, RIL took over IPCL's Vadodara Plants and renamed it as Vadodara Manufacturing Division (VMD) . IPCL's Nagothane and Dahej manufacturing complexes came under RIL when IPCL was merged with RIL in 2008. In 2005 and 2006, the company reorganised its business by demerging its investments in power generation and distribution, financial services and telecommunication services into four separate entities. In 2006, Reliance entered
3168-556: The incident did not find any unethical or illegal acts or transactions committed by Reliance or its promoters. Ambani was admitted to the Breach Candy Hospital in Mumbai on 24 June 2002 after he suffered a major stroke. It was his second stroke, the first had occurred in February 1986 and had paralyzed his right hand. He was in a coma for more than a week and a number of doctors were consulted. He died on 6 July 2002 at
3234-407: The month, Mukesh Ambani bailed out his younger brother, paying the debt. In 2021, he was the subject of a bomb scare when a green Mahindra Scorpio SUV packed with explosives was found near a Mumbai skyscraper housing Ambani. In 2023, he received a death threat via email. On July 12 to 14, 2024, the wedding of Anant Ambani and Radhika Merchant was held as a 3-day event that took place at
3300-421: The organised retail market in India with the launch of its retail store format under the brand name of ' Reliance Fresh '. By the end of 2008, Reliance Retail had close to 600 stores across 57 cities in India. In November 2009, Reliance Industries issued 1:1 bonus shares to its shareholders. In 2010, Reliance entered the broadband services market with acquisition of Infotel Broadband Services Limited, which
3366-414: The people of Maharashtra in paying my tribute to the memory of Ambani and convey my heartfelt condolences to the bereaved family. Following his first stroke in 1986, Ambani handed over control of Reliance to his sons, Mukesh and Anil . In November 2004, Mukesh in an interview admitted to having differences with Anil over ownership issues. He also said that the differences "are in the private domain". After
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#17327831116403432-428: The possibility of a "collaborative venture" with Bharti Airtel in setting up digital infrastructure for the 4G network in India. On 18 June 2014, Ambani said he will invest Rs 1.8 trillion ( short scale ) across businesses in the next three years and launch 4G broadband services in 2015. In February 2014, a First Information Report (FIR) alleging criminal offences was filed against Ambani for alleged irregularities in
3498-527: The pricing of natural gas from the KG basin . Ambani was elected as a member of the National Academy of Engineering in 2016 for engineering and business leadership in oil refineries, petrochemical products, and related industries. As of 2015, Ambani ranked fifth among India's philanthropists, according to China's Hurun Research Institute. He was appointed as a Director of Bank of America and became
3564-485: The private telecom provider. Two retired senior officials of National Insurance Company Limited and 11 others were awarded varying jail terms by a Delhi court in Jan 2014. A business jet owned by Reliance Industries (RIL) was grounded by The Directorate General of Civil Aviation (DGCA) on 22 March 2014 during a surprise inspection, for carrying expired safety equipment on board; its pilot was also suspended for flying without
3630-619: The publisher so far. A Bollywood movie Guru , directed by filmmaker Mani Ratnam , is said to be set on the life of Dhirubhai Ambani due to similarities between the plot and Ambani's life. However, Ratnam has denied that is a biography but has said it draws the "essence of the character" from real life. Reliance Industries Reliance Industries Limited is an Indian multinational conglomerate headquartered in Mumbai , Maharashtra, India. Its businesses include energy , petrochemicals , natural gas , retail , entertainment , telecommunications , mass media , and textiles . Reliance
3696-753: The sale process of its 76% equity stake in Mauritius -based oil retailer Gulf Africa Petroleum Corp (GAPCO) to Total Marketing & Services, a subsidiary of the French oil and gas firm Total SE . The East West Pipeline has been acquired by India Infrastructure Trust, which is owned by Brookfield Asset Management for a consideration of ₹ 13,000 crore . The company has attracted controversy for reports of political corruption , cronyism , fraud, financial manipulation, and exploitation of its customers, Indian citizens, and natural resources. The chairman of Reliance Industries, Mukesh Ambani, has been described as
3762-411: 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,
3828-438: The sovereign ceiling". In 1995/96, the company entered the telecom industry through a joint venture with NYNEX , USA, and promoted Reliance Telecom Private Limited in India. In 1998, Reliance took over Indian Petrochemicals Corporation Limited during privatization of public sector enterprises. In 1998/99, RIL introduced packaged LPG in 15 kg cylinders under the brand name Reliance Gas . The years 1998–2000 saw
3894-554: The top 100 in the Fortune 500 list of the world's largest companies by revenue. In 1988 an unauthorized biography of Dhirubhai Ambani, by Hamish McDonald with the title The Polyester Prince , outlined all his political and business conquests. The book was not published in India because the Ambanis threatened legal action; an updated version went on sale under the title Ambani and Sons in 2010, and there has been no action against
3960-441: Was arbitrary and unreasonable and contributed to a loss of INR 228,420 million (US$ 3.8 billion) to the exchequer. The CAG in its draft report alleged rigging of the auction mechanism, whereby an unknown ISP, Infotech Broadband Services Pvt Ltd, acquired the spectrum by bidding 5000 times its net worth, after which the company was sold to Reliance Industries. Mukesh Ambani Mukesh Dhirubhai Ambani (born 19 April 1957)
4026-418: Was back at 60. By Securities and Exchange Board of India directive, RIL carried out an organised operation with the help of its agents to obtain unauthorised profits from the trading of its formerly listed unit, RPL, which was combined with the former in 2009. He married Nita Ambani in 1985 and they have two sons, Akash (born 23 October 1991) and Anant (born April 10, 1995), and a daughter, Isha, who
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#17327831116404092-415: Was commissioned in 1991–92. In 1993, Reliance turned to the overseas capital markets for funds through a global depository issue of Reliance Petroleum. In 1996, it became the first private sector company in India to be rated by international credit rating agencies . S&P rated Reliance "BB+, stable outlook, constrained by the sovereign ceiling". Moody's rated "Baa3, Investment grade, constrained by
4158-461: Was given charge of the construction of Patalganga petrochemical plant when the company was heavily investing in oil refinery and petrochemicals. Ambani directed and led the creation of the world's largest grassroots petroleum refinery at Jamnagar , India, which could produce 660,000 barrels per day (33 million tonnes per year) in 2010, integrated with petrochemicals, power generation, port, and related infrastructure. In December 2013 Ambani announced
4224-585: Was going to invest US$ 1 billion over the next few years in its new aerospace division which will design, develop and manufacture equipment and components, including aircraft , engine , radars , avionics and accessories for military and civilian aircraft, helicopters , unmanned airborne vehicles, and aerostats . In July 2024, Reliance Industries was granted the approval by United States to resume importing oil from Venezuela . The company had more than 200 subsidiary companies and more than 15 associate companies as of 2024. Jio Platforms Limited, essentially
4290-529: Was one of the sons of Hirachand Gordhanbhai Ambani, a village school teacher belonging to the Modh vaniya ( Baniya ) community and Jamnaben Ambani and was born in Chorwad, Malia Taluka, Junagadh district , Gujarat on 28 December 1932. He did his studies from Bahadur Khanji school. He returned from Aden in 1958 to try his hand at his own business in India in the textile market. It is also said that he has worked at
4356-531: Was the only successful bidder for pan-India fourth-generation (4G) spectrum auction held by the government of India. In the same year, Reliance and BP announced a partnership in the oil and gas business. BP took a 30 per cent stake in 23 oil and gas production sharing contracts that Reliance operates in India, including the KG-D6 block for $ 7.2 billion. Reliance also formed a 50:50 joint venture with BP for sourcing and marketing of gas in India. In 2017, RIL set up
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