anil dhirubhai ambani group . a major contributor to this article appears to have a close connection with its subject . it may require cleanup to comply with wikipedia s content policies particularly neutral point of view . please discuss further on the talk page . september 2016 learn how and when to remove this template message reliance industries limited type public traded as bse 500325 nse reliance lse rigd bse sensex constituent cnx nifty constituent industry conglomerate predecessor reliance commercial corporation founded 1966 ; 50 years ago 1966 founder dhirubhai ambani headquarters mumbai maharashtra india area served worldwide key people mukesh ambani chairman and md products petroleum natural gas petrochemicals textiles retail telecommunications media services security services revenue 2 960 billion us 44 billion 2016 1 operating income 359 billion us 5.3 billion 2016 1 profit 276 billion us 4.1 billion 2016 1 total assets 6 062 billion us 90 billion 2016 1 number of employees 24 930 2016 1 website www.ril.com reliance industries limited ril is an indian conglomerate holding company headquartered in mumbai maharashtra india . reliance owns businesses across india engaged in energy petrochemicals textiles natural resources retail and telecommunications . reliance is the third most profitable company in india 2 3 the second largest publicly traded company in india by market capitalization 4 and the second largest company in india as measured by revenue after the government controlled indian oil corporation . 5 the company is ranked 215th on the fortune global 500 list of the world s biggest corporations as of 2016 . 6 ril contributes approximately 20 % of india s total exports . 7 it is ranked 8th among the top 250 global energy companies by platts as of 2016 . contents 1 history 1.1 1960 1980 1.2 1981 2000 1.3 2001 2 shareholding 2.1 listing 3 operations 3.1 major subsidiaries and associates 4 employees 5 awards and recognition 6 controversies 6.1 de merger of ril in 2005 06 6.2 relationship with ongc 6.3 in house counsel 7 see also 8 references 9 external links history edit 1960 1980 edit the company was co founded by dhirubhai ambani and his brother champaklal damani in 1960s as reliance commercial corporation . in 1965 the partnership ended and dhirubhai continued the polyester business of the firm . 8 in 1966 reliance textiles industries pvt ltd was incorporated in maharashtra . it established a synthetic fabrics mill in the same year at naroda in gujarat . 9 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 . 10 the issue was over subscribed by seven times . 11 in 1979 a textiles company sidhpur mills was amalgamated with the company . 12 in 1980 the company expanded its polyester yarn business by setting up a polyester filament yarn plant in raigad maharashtra with financial and technical collaboration with e. i. du pont de nemours & co. u.s. 9 1981 2000 edit in 1985 the name of the company was changed from reliance textiles industries ltd. to reliance industries ltd. 9 during the years 1985 to 1992 the company expanded its installed capacity for producing polyester yarn by over 145 000 tonnes per annum . 9 j the hazira petrochemical plant was commissioned in 1991 92 . 13 in 1993 reliance turned to the overseas capital markets for funds through a global depositary 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 the sovereign ceiling . 14 in 1995 96 the company entered the telecom industry through a joint venture with nynex usa and promoted reliance telecom private limited in india . 13 in 1998 99 ril introduced packaged lpg in 15 kg cylinders under the brand name reliance gas . 13 the years 1998 2000 saw the construction of the integrated petrochemical complex at jamnagar in gujarat 13 the largest refinery in the world . 2001 edit in 2001 reliance industries ltd. and reliance petroleum ltd. became india s two largest companies in terms of all major financial parameters . 15 in 2011 02 reliance petroleum was merged with reliance industries . 10 in 2002 reliance announced india s biggest gas discovery at 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 in excess of 7 trillion cubic feet equivalent to about 1.2 billion barrels of crude oil . this was the first ever discovery by an indian private sector company . 10 16 in 2002 03 ril purchased a majority stake in indian petrochemicals corporation ltd. ipcl india s second largest petrochemicals company from government of india . 17 ipcl was later merged with ril in 2008 . 18 19 in the years 2005 and 2006 the company reorganized its business by demerging its investments in power generation and distribution financial services and telecommunication services into four separate entities . 20 in 2006 reliance entered the organised retail market in india 21 with the launch of its retail store format under the brand name of reliance fresh . 22 23 by the end of 2008 reliance retail had close to 600 stores across 57 cities in india . 10 in november 2009 reliance industries issued 1 1 bonus shares to its shareholders . in 2010 reliance entered broadband services market with acquisition of infotel broadband services limited which was the only successful bidder for pan india fourth generation 4g spectrum auction held by government of india . 24 25 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 . 26 reliance also formed a 50 50 joint venture with bp for sourcing and marketing of gas in india . 27 in 2012 ril set up a joint venture with russian company sibur for setting up a butyl rubber plant in jamnagar gujarat . the plant is scheduled to be operational in 2015 28 presently tejpal singh bisht is the president and ceo of new ventures in the chairman s office at reliance industries limited . 29 shareholding edit chairman and md mukesh ambani the number of shareholders in ril are approx . 3 million.the promoter group ambani family holds approx . 52 % of the total shares whereas the remaining 48 % shares are held by public shareholders including fii and corporate bodies . 30 31 life insurance corporation of india is the largest non promoter investor in the company with 7.98 % shareholding . 7 buyback in january 2012 the company announced a buyback programme to buy a maximum of 120 million shares for 104 billion us 1.5 billion . by the end of january 2013 the company bought back 46.2 million shares for 33.66 billion us 500 million . 32 listing edit 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 luxembourg stock exchange . 33 34 it has issued approx . 56 million gdrs wherein each gdr is equivalent to 2 equity shares of the company . approx . 3.46 % of its total shares are listed on luxembourg stock exchange . 30 its debt securities are listed at the wholesale debt market wdm segment of the national stock exchange of india limited nse . 35 credit ratings 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 the company as baa2 positive outlook local currency issuer rating and bbb outlook respectively . 36 37 38 operations edit the company s petrochemicals refining and oil and gas related operations form the core of its business ; other divisions of the company include cloth retail business 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 . 7 in july 2012 ril informed that it was going to invest us 1 billion over the next few years in its new aerospace division which will design develop manufacture equipment and components including airframe engine radars avionics and accessories for military and civilian aircraft helicopters unmanned airborne vehicles and aerostats . 39 major subsidiaries and associates edit on 31 march 2013 the company had 123 subsidiary companies and 10 associate companies . 7 reliance retail is the retail business wing of the reliance industries . in march 2013 it had 1466 stores in india . 40 it is the largest retailer in india . 41 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 the reliance retail brand . its annual revenue for the financial year 2012 13 was 108 billion us 1.6 billion with an ebitda of 780 million us 12 million . 7 42 reliance life sciences works around medical plant and industrial biotechnology opportunities . it specializes in manufacturing branding and marketing reliance industries products in bio pharmaceuticals pharmaceuticals clinical research services regenerative medicine molecular medicine novel therapeutics biofuels plant biotechnology and industrial biotechnology sectors of the medical business industry . 43 44 reliance institute of life sciences rils established by dhirubhai ambani foundation is an institution offering higher education in various fields of life sciences and related technologies . 45 46 reliance logistics is a single window company selling transportation distribution warehousing logistics and supply chain related products supported by in house telematics and telemetry solutions . 47 48 49 reliance logistics is an asset based company with its own fleet and infrastructure . 50 it provides logistics services to reliance group companies and outsiders . 51 merged content from reliance logistics to here . see talk reliance industries archives 2013 merge proposals . reliance clinical research services rcrs a contract research organisation cro and wholly owned subsidiary of reliance life sciences specialises in the clinical research services industry . its clients are primarily pharmaceutical biotechnology and medical device companies . 52 reliance solar the solar energy subsidiary of reliance was established to produce and retail solar energy systems primarily to remote and rural areas . it offers a range of products based on solar energy solar lanterns home lighting systems street lighting systems water purification systems refrigeration systems and solar air conditioners . 53 merged content from reliance solar to here . see talk reliance industries archives 2013 merge proposals . relicord is a cord blood banking service owned by reliance life sciences . it was established in 2002 . 54 it has been inspected and accredited by aabb 55 and also has been accorded a license by food and drug administration fda government of india . reliance jio infocomm limited rjil previously known as infotel broadband is a broadband service provider which gained 4g licences for operating across india . 56 57 sandip das former ceo of maxis malaysia is the current group president of reliance jio infocomm . 58 reliance industrial infrastructure limited riil is an associate company of ril . ril holds 45.43 % of total shares of riil . 7 it was incorporated in september 1988 as chembur patalganga pipelines limited with the main objective being to build and operate cross