Dhirubhai first incorporated the company as Reliance Commercial Corporation but he later changed the name to Reliance Industries Limited after he ventured into several other segments.
Anil Ambani and Mukesh Ambani belong to the richest family in India. While Mukesh Ambani is the richest person in the country with a massive net worth of Rs 970678 crore, Anil Ambani is on the rise again after settling debts of several banks. Both Mukesh Ambani and Anil Ambani own a range of ‘Reliance’ companies. A name that was given by their father Dhirubhai Ambani when the conglomerate was established back in 1958. Although Reliance is one of the most popular brand names in the country, not many know the story behind the iconic name. As per a report by the Times of India, Dhirubhai Ambani named his company Reliance to reflect his strong belief in self-reliance and independence. Reports suggest that Dhirubhai saw Reliance as a means of empowering individuals and communities to achieve their goals without relying on others.
Dhirubhai first incorporated the company as Reliance Commercial Corporation but he later changed the name to Reliance Industries Limited after he ventured into several other segments. Backing its name, Reliance became one of the most trusted companies in the country. In 1977, Reliance Textile Industries’ IPO created history by ushering the equity cult in India. The issue is oversubscribed seven times, strengthening Reliance’s growth ambitions.
Although Reliance was divided among Anil Ambani and Mukesh Ambani after the demise of their father Dhirubhai Ambani, Reliance Industries Limited is still the most valuable company in India. It has a market cap of Rs 2000000 crore. Spearheaded by Mukesh Ambani, Reliance is now involved in energy, petrochemicals, natural gas, retail, entertainment, telecommunications, mass media, and textiles business.
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