Shri Dhirubhai Ambani is showing the exporters the Naroda Mill's fabric printing machinery imported from Switzerland.
Image Courtesy: Reliance Industries Limited.
In 1977, in order to scale up its operations, funds were needed. Unwilling to face red tape from banks, Reliance reached out to the public. Its first public issue was oversubscribed seven times, to the complete astonishment of trade analysts. Small investors now became the backbone of the company.
Image Courtesy: Reliance Industries Limited.
Initially, Vimal was not readily accepted by traders in Ahmedabad and Bombay who were controlled by long-established textile tycoons. Shri Dhirubhai Ambani decided to bypass the wholesaler and take Vimal directly to the customer. In 1972, Vimal opened its first exclusive showroom at Roxy Theatre, near the Opera House, Bombay.
Image Courtesy: Reliance Industries Limited.
Due to lack of space in Bombay, Shri Dhirubhai Ambani scouted in Gujarat, his home state, to find a suitable land for a textile mill. In February 1966, he bought a 10,000 sq. yard plot at Naroda. He also bought the plots of factories around it that were facing business losses. Soon, the textile mill at Naroda spread over 125 acres.
Image Courtesy: Reliance Industries Limited.
