Reliance shares were traded in the market as 'Dhirubhai'. Nobody was too small to invest in Reliance. Shri Dhirubhai Ambani would ask their domestic servants to buy Reliance shares for which he would lend them Rs 5,000 each and invest it in Reliance on their behalf. Eventually, he convinced close to 4 million Indians to invest their hard-earned money in Reliance. Here is a Reliance share priced at Rs. 10 in 1992.
Image Courtesy: Reliance Industries Limited.
Although profitable, the spice business was not enough for Shri Dhirubhai Ambani. Ever restless to find more growth opportunities, he shifted to yarn trading. This was a risky business, but there were also margins to be made. Shri Dhirubhai Ambani started buying and selling different types of yarn, first in small quantities, then in ever-increasing volumes.
Image Courtesy: Reliance Industries Limited
In February 1958, Shri Dhirubhai Ambani started Reliance Commercial Corporation in partnership with Shri Trambhakbhai Damani. When asked why he chose to name his company Reliance, Shri Dhirubhai Ambani said, 'I saw it written somewhere and it stayed in my mind.'
Image Courtesy: Reliance Industries Limited