Reliance goes public for the first time by announcing its IPO and raises Rs 2.8 crore (USD 3.28 million), thus ushering in the Equity Cult in India.
• Initial share price is Rs 10
• Issue oversubscribed seven times with 58,000 investors by the year end
• Receives approval for BSE listing of Reliance as Reliance Textile Industries Ltd.
Image Courtesy: Reliance Industries Limited.
The World Bank certifies Reliance Textile Industries as India’s finest composite textile mill by developed country standards. The World Bank called the mill India’s 'most modern textile plant’, barely nine years after Shri Dhirubhai Ambani set up the mill at Naroda.
Image Courtesy: Reliance Industries Limited.
Dhirubhai Ambani sets up the Naroda textile unit. The legendary apparel brand “Vimal” brings fashionable yet affordable textiles to millions of Indians.
Image Courtesy: Reliance Industries Limited.
Reliance Commercial Corporation was housed on the first floor of this building at Masjid Bunder. Reliance’s first sign board can be seen here.
Image Courtesy: Reliance Industries Limited.
Shri Dhirubhai Ambani moved from trading in spices to trading in yarn in the year 1961. Began large-scale import of yarn.
Image Courtesy: Reliance Industries Limited.
Dhirubhai Ambani starts a spice trading company, Reliance Commercial Corporation, at Masjid Bunder, Mumbai, in partnership with Trambhakbhai Damani.
Image Courtesy: Reliance Industries Limited.
Shri Pramod Mahajan, Communication Minister in NDA Government, released the commemorative stamp on the occasion of Shri Dhirubhai Ambani's 70th birth anniversary.
Image Courtesy: Reliance Industries Limited.
