A

REPORT

ON

LIFE AND ACHEIVEMENTS OF DHIRUBHAI AMBANI

Dhirubhai Ambani

When you hear the term "Rags to Riches", the name that springs to mind is "Reliance", and the man who created it,Dhirubhai Ambani. From near nothing to one of the largest companies in the world in a span of 50 years. This is the story of a hard-working man who refused to allow life to control him, and always preferred to control life.

Dhirubhai Ambani was born on 28 Dec. 1932 as the third son to a school teacher in Gujarat with moderate means. Ambani moved to Aden, Yemen when he was 16 for a livelihood. He started his career as a dispatch clerk before becoming the distributor for Shell Products. He was later promoted as a manager in an oil filling station at the port of Aden.

D.A. returned to India after 10 years and found Reliance Commercial Company with a capital of Rs.15000/= in Masjid Bunder in Mumbai in a 350 Sq.ft. space with one telephone, one table, three chairs and with a business mission of importing polyester yarn and exporting spices.

Within a few years, he set up his own factory manufacturing textiles in Ahmadabad. He gained prominence steadily in the textile markets, more so because of his fair dealings and excellent product quality. He began to be called "Dhirubhai" affectionately by all. 1

His personal life progressed, too. Dhirubhai married Kokilaben, and they had four children Mukesh and Anil, and daughters Dipti and Nina. The family of 6 lived in a one-room apartment in the Jai Hind Society in Mumbai, a tenement building that housed 500 families. Those were the difficult days, and often, Anil and Mukesh used to share each other's clothes.

In 1966, Dhirubhai set up a textile mill in Naroda, Gujarat to manufacture fabrics for suits and saris. This was a big move for him, which paid off. Within one year, the net profit from this venture was Rs.13 lakhs. Dhirubhai knew he was on the right track and wanted to expand. He plowed money back into the mill to buy more machines, and the business grew by leaps end bounds.

At that time, Dhirubhai was marketing fabric under the "Vimal” brand, named after the son of his older brother, Ramniklal Ambani. In 1968, the Ambani family moved out of their one-room home in the Jai Hind Society building to a more spacious apartment in a better locality. Dhirubhai started driving a Cadillac and later a Mercedes-Benz.

In 1982, Dhirubhai moved from making polyester fabric at his mills to manufacturing the polyester filament yarn that goes into the fabric.

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In 1985, Reliance had over 1.2 million stock and bond holders. Dhirubhai held the company's annual general meeting at a Mumbai football stadium. This was lauded as a "never before" event.

About 12,000 shareholders attended this meeting with awe, each of them proud to be part of the Reliance realm. In this meeting, Dhirubhai announced that he was dropping the word "Textile" from the company's name, reflective of the great diversification that was taking place in the group. The company came to be known as "Reliance IndustriesLimited".

In February 1986, a stroke left Dhirubhai’s right side partially paralyzed, but this did not diminish his involvement in Reliance. By then both his sons Mukesh and Anil were totally involved in the company's affairs.

On June 24, 2002, Dhirubhai suffered a second stroke and slipped into a coma. He died 12 days later in a Mumbai hospital. He was mourned all over the world by millions of people. Dhirubhai's legacy and vision lives on in every inch of the mammoth business empire that he built.

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Acheivements

June, 1998 : Leading business magazine, Business Barons placed Dhirubhai Ambani in its list of ‘India’s 25 Most Influential Business and Financial Leaders’.

June, 1998 : Chosen as ‘Star of Asia’ by Business Week, USA.

June, 1998 : Awarded the Dean’s Medal by the Wharton School, University of Pennsylvania for setting an outstanding example of leadership.

October, 1998 : Dhirubhai Ambani is the only Indian industrialist to feature in the ‘Business Hall of Fame’ in Asiaweek.

July, 1999 : Declared as the ‘Most Admired Indian Business Leader’ by The Times of India

August, 1999 : Placed amongst ‘The Power 50 - India’s 50 most powerful decision-makers in Politics, Business & Finance‘, Business Barons.

December,1999 :Voted as ‘Indian Businessman of the Century’ in Business Barons Global Multimedia Poll.

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December, 1999 : Chosen by the Indian Merchants Chamber as ‘An Outstanding Visionary of the 20th Century’ in recognition of his unique achievements and contribution in the development of industry and capital markets in India.

January, 2000 : Voted as ‘Creator of Wealth of the Century’ in The Times of India poll.

January, 2000 : Voted the most admired Indian of the millennium in the field of Business & Economics in ‘Legends - A Celebration of Excellence’ poll audited by Ernest & Young for Zee Network.

January, 2000 : Chosen as one of the three ‘makers of equity’ by India Today in its special millennium issue ‘100 People Who Shaped India in the 20th Century’.

March, 2000 : Indian Entrepreneur of the 20th Century’ award by FICCI, for his meticulous scripting of one of the most remarkable stories of business endeavor of the 20th Century.

November, 2000 : ‘Man of the Century’ award by Chemtech Foundation and Chemical Engineering World for his contribution to the growth and development of the Indian chemical industry.

August, 2001 : The Economic Times Award for Corporate Excellence and Lifetime Achievement.

February, 2002 : Conferred the Lifetime Achievement Award by India HRD Congress.

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Names of major Companies: Reliance Industries Limited, Reliance Petroleum Limited. These are India's top two private sector companies.

Description of Group's Business: Reliance Group is India's largest business house with total revenues of Rs 60,000 crores (US$ 12.5

billion), cash flow of over Rs 7,000 crores (US$ 1.4 billion), net profit of over Rs 4,500 crores (US$ 950 million) and exports of Rs 9,370 crores (US$ 2 billion). The Group has total assets of Rs 55,000 crores (US$ 11.5 billion). The group's activities span petrochemicals, synthetic fibres, fibre intermediates, textiles, oil & gas, financial services, refining & marketing, power, insurance, telecom and infocom initiatives. Reliance emerged as India's Most Admired Business House in a Taylor Nelson Sofres - Mode (TNS-Mode) survey for 2001 conducted for Business Barons magazine, June 2001.

Marital Status: Married to Kokilaben, has four children: two sons, Mukesh, who is Vice-Chairman & Managing Director and Anil, Managing Director of Reliance Industries and two daughters, Dipti Salgaocar who lives in Goa and Nina Kothari, who resides in Chennai.

Prime Minister Atal Bihari Vajpayee, while describing Ambani as “an iconic proof of what an ordinary Indian fired by the spirit of enterprise and driven by determination can achieve in his own lifetime,” deputed Minister of State in his office, Vijay Goel to represent him at the funeral today. The Prime Minister gave Ambani credit for envisioning the creation of world-class capacities in core areas of the nation's infrastructure in the private sector and translating that vision into reality in record time.

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What is Reliance ?

The Reliance Group is India’s largest business house with total revenues being more than $22.6 billion. This is equal to 3.5% of

India’s GDP. Reliance contributes to 10% of India’s total indirect tax and 6% of her total exports. Reliance network of exports spread out to more than one hundred countries across the globe.

Reliance Industries

TypePublicBSE: 500325NSE: RELIANCE

Industry Conglomerate

Founded1966 As Reliance Commercial Corporation

Founder(s) Dhirubhai Ambani

Headquarters

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Mumbai, Maharashtra, India

Area served Worldwide

Key peopleMukesh Ambani (Chairman & MD)

Products Oil and GasPetroleum

PetrochemicalsPolyesterTextilesRetailInsuranceSEZTelecom

Revenue US$ 58.55 billion (2011)

Net income US$ 4.54 billion (2011)

Total assets US$ 63.84 billion (2011)

Total equity US$ 34.12 billion (2011)

Employees 23,365 (2010)

Subsidiaries

Reliance Life SciencesReliance Industrial Infrastructure LimitedReliance LogisticsReliance Clinical Research ServicesReliance Solar 8

RelicordInfotel Broadband

Website RIL.com

Reliance Industries Limited (RIL)

(BSE: 500325, NSE: RELIANCE, LSE: RIGD) is the largest private sector conglomerate company headquartered at Mumbai, India. The company is largest by annual turnover of $58.5 billion and market capitalization of $76.9 billion for the fiscal year ending in March 2011 making it one of the largest India's private sector companies, being ranked at 264th position in

the Fortune Global 500 (2009) and at the 126th position in the Forbes Global 2000 list (2010).

Reliance was founded by the Indian industrialist Dhirubhai Ambani in 1966. Ambani has been a pioneer in introducing financial instruments like fully convertible debentures to the Indian stock markets. Ambani was one of the first entrepreneurs to draw retail investors to the stock markets. Critics allege that the rise of Reliance Industries to the top slot in terms of market capitalization is largely due to Dhirubhai's ability to manipulate the levers of a controlled economy to his advantage.

Though the company's petrochemicals, refining, and oil and gas-related operations form the core of its business, however, other segment of the company includes textile, retail business, telecommunications and special economic zone (SEZ) development. After severe differences between the founder's two sons, Mukesh Ambani and Anil Ambani, the group was divided between them in 2006. In September 2008, Reliance Industries was the only Indian firm featured in the Forbes's list of "world's 100 most respected companies". In 2010, it stood at 13th position in the Platts Top 250 Global Energy Company Rankings.

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Board Of Directors

Designation Member Name

Chairman & Managing Director Mukesh D Ambani

Executive Director Nikhil Meswani

Hital Meswani

PMS Prasad

Director Ramniklal H Ambani

Mansingh L Bhakta

Yogender P Trivedi

Dharam Vir Kapur

Mahesh P Modi

Ashok Misra

Dipak C Jain

Ragunath A Mashelkar

WTD & Executive Director Pawan Kumar Kapil

Products

Reliance Industries Limited has a wide range of products from petroleum products, petrochemicals, to garments (under the brand name of Vimal), Reliance Retail has entered into the fresh foods market as Reliance Fresh and launched a non-veg chain called Delight Reliance Retail and NOVA Chemicals have signed a letter of intent to make energy-efficient structures.

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Major subsidiaries and associates

Reliance Life Sciences is a research-driven, biotechnology-led, life sciences organization that participates in medical, plant and industrial biotechnology opportunities. Specifically, these relate to Biopharmaceuticals, Pharmaceuticals, Clinical Research Services, Regenerative Medicine, Molecular Medicine, Novel Therapeutics, Biofuels, Plant Biotechnology and Industrial Biotechnology.

Reliance Institute of Life Sciences (Rils), established by Dhirubhai Ambani Foundation, is an institution of higher education in various fields of life sciences and related technologies.

Reliance Logistics (P) Limited is a single window solutions provider for transportation, distribution, warehousing, logistics, and supply chain needs, supported by in house state of art telematics and telemetry solutions.

Reliance Clinical Research Services (RCRS), a contract research organization (CRO) and wholly owned subsidiary of Reliance Life Sciences, has been set up to provide clinical research services to pharmaceutical, biotechnology and medical device companies.

Reliance Solar , The solar energy initiative of Reliance aims to bring solar energy systems and solutions primarily to remote and rural areas and bring about a transformation in the quality of life.

Relicord is the first and one of the most dependable stem-cell banking services of South East Asia offered by Mukesh Ambani controlled by Reliance Industries.

Infotel Broadband is a broadband service provider, it is wholly owned by RIL for 4,800 crore (US$1.07 billion).

Reliance Industrial Infrastructure Limited

Reliance Industrial Infrastructure Limited (RIIL) was incorporated in September 1988 as ‘Chembur Patalganga Pipelines Limited’, with the main object to build and operate cross-country pipelines for transporting petroleum products. The company's name was subsequently changed to CPPL Limited in September 1992, and thereafter to its present name ‘Reliance Industrial Infrastructure Limited’ in March 1994. It has been promoted by Mr. Satyapal Jain and his associates. The company set up a 200-millimetre diameter twin pipeline system that connects the Bharat Petroleum refinery at Mahul, Maharashtra to Reliance’s petrochemical complex at Patalaganga, Maharashtra.

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The pipeline carries petroleum products including Naptha and Kerosene. It has commissioned facilities like Supervisory Control and Data Acquisition system and the Cathodic Protection system, a Jackwell at River Tapi and a Raw Water Pipeline System at Hazira. The infrastructure company constructed a 70,000 kilolitre petrochemical product storage and distribution terminal at the Jawaharlal Nehru Port Trust (JNPT) Area in Maharashtra. RIIL is mainly engaged in the business of setting up and operating Industrial Infrastructure. The company is also engaged in related activities involving leasing and providing services connected with computer software and data processing.

Reliance retail

Reliance Retail is the retail business wing of the Reliance business. Many brands like Reliance Fresh, Reliance Footprint, Reliance Time Out, Reliance Digital,

Reliance Wellness, Reliance Trendz, Reliance Autozone, Reliance Super, Reliance Mart, Reliance iStore, Reliance Home Kitchens, and Reliance Jewel come under the Reliance Retail brand

Mergers,Joint Ventures & Take-Overs

2011

BP DEAL

In February 2011, Reliance Industries announced the formation of a strategic partnership with British energy giant, BP Plc, worth US $7.2 billion. The partnership will see BP taking a 30 per cent stake in 23 oil and gas production sharing contracts operated by RIL in India, including the producing KG-D6 block, and formation of a 50:50 joint venture between the two companies for the sourcing and marketing of gas in India. The joint venture will also endeavor to accelerate the creation of infrastructure for receiving, transporting and marketing of natural gas in India. It will combine Reliance’s project management and operations expertise with BP’s world-class deepwater exploration and development capabilities. As a part of this deal, BP will pay Reliance Industries Ltd. an aggregate consideration of US$7.2 billion, plus an additional sum of approximately $1.8billion in future performance-related payments.

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The deal was approved by Government of India in July 2011 and it sanctioned development of 21 of 23 exploration blocks. Covering approximately 270,000 square kilometers of oil and gas acreage, the joint venture will be India’s largest private sector holder of exploration acreage.

DE SHAW DEAL

In March 2011, Reliance Industries and D. E. Shaw group announced the formation of an exclusive a joint venture to build a leading financial services business in India. The joint venture will draw upon core competencies of both partners; incorporating Reliance’s operational knowledge and extensive presence across India with D. E. Shaw group’s investment and technology expertise to offer an array of financial services to the Indian market. According RIL’s official statement, the JV seeks to “build a leading financial services business in India.”

Through this venture, Reliance Industries is looking to cater to both corporate and consumers through a wide array of next-generation financial services products, including energy and carbon trading, private equity, mutual funds, and other security-linked offerings.] The 50:50 JV has been named DE Shaw India Financial Services Pvt. Ltd. and, at the outset, it will look to invest in institutional and asset management business starting with a private equity fund.

2010

ATLAS ENERGY DEAL

In April 2010, Reliance Industries announced its plans to invest $1.7 billion in a joint venture with Atlas Energy Inc. to develop shale gas assets in Marcellus region in the U.S. RIL and Atlas Energy agreed to acquire 42,344 highly prospective Marcellus Shale acres in Fayette, Washington, Indiana, Westmoreland, Armstrong and Clarion Counties of Pennsylvania for an average purchase price of $4,532 per acre. As a result of these transactions, the RIL-Atlas joint venture now controls approximately 343,000 Marcellus shale acres. This acreage is contained within the area of mutual interest (AMI) Atlas has established with Reliance. Presently, RIL stakes 40% undivided interest in the new acreage (120,000 net to Reliance) while Atlas has 60% undivided interest in the acreage. Atlas Energy Inc. will serve as the development operator for the joint venture.

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In addition to funding its own 40% of drilling obligations, Reliance agreed to fund 75 percent of Atlas’ respective portion of drilling and completion costs until the $1.36 billion drilling carry is fully utilized. Atlas and Reliance agreed upon a five-year development plan that calls for the drilling of approximately 300 wells by 2014. The investment is likely to be scaled up to $3.5 billion over the decade.

PIONEER NATURAL RESOURCES COMPANY DEAL

In June 2010, RIL, through its subsidiary, Reliance Eagle Ford Upstream LP, entered into a joint venture with Pioneer Natural Resources Company under which

Reliance acquired a 45% interest in Pioneer's core Eagle Ford shale acreage position in two separate transactions. As per the agreement, Pioneer, along with Newpek LLC (Pioneer's operating partner in core Eagle Ford shale acreage) simultaneously conveyed 45% of their respective interests in Eagle Ford to RIL. Pioneer and Newpek LLC, however, continue to hold 46% and 9% stake respectively in gas acreages.

The joint venture will have an approximate net working interest of 91% in 289,000 gross acres, entailing nearly 263,000 net acres. RIL agreed to an estimated amount of $1.315 billion for its implied share of 118,000 lakh net acres. This upstream transaction consideration includes combined upfront cash payments of $263 million and deferred payments of $1.052 billion associated with a carry arrangement for 75% of Pioneer's and Newpek's capital costs over an anticipated four years. While Pioneer will serve as the development operator for the upstream joint venture, Reliance is expected to serve as the development operator in certain areas.

CARRIZO OIL & GAS INC DEAL

In September 2010, RIL, through its subsidiary, Reliance Marcellus II, LLC, entered into a joint venture with U.S based Carrizo Oil & Gas Inc. As per the agreement, Reliance acquired a 60% interest in Marcellus shale acreage in Central and Northeast Pennsylvania which was previously held in a 50:50 joint venture between Carrizo and ACP II Marcellus LLC - an affiliate of Avista Capital Partners.

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In agreement to the joint venture, Reliance acquired 100% of Avista's interest and 20% of Carrizo's interests in the JV. Presently, Reliance and Carrizo respectively own 60% and 40% interests in the newly formed joint venture between the companies. Reliance agreed to a total consideration of $392 million, of which $340 million will comprise the initial payment and $52 million in drilling carry obligations.

The joint venture will control 104,400 net acres of undeveloped acreage in core areas of the Marcellus shale in Central and Northeast Pennsylvania. RIL’s 60% interest will represent approximately 62,600 net acres of this acreage. The JV is expected to support the drilling of approximately 1,000 wells over the period of 10 years, with a net resource potential of about 3.4 TCFe (2.0 TCFe net to Reliance).

SIBUR DEAL

In December 2010, Reliance Industries and leading Russian petrochemicals company SIBUR announced the formation of a joint venture for production of butyl rubber in India, with RIL holding a majority stake in the same. As per the agreement, a joint venture facility with an initial capacity of 100,000 tonne of butyl rubber will be commissioned by 2013 at RIL’s integrated refining-cum-petrochemical site in Jamnagar, India. The JV facility will initially produce regular butyl rubber and is expected to manufacture other types of butyl rubber specialties in the future. SIBUR will provide its proprietary technology for butyl rubber polymerization and finishing, while RIL will supply monomers and provide the JV with world-class infrastructure and utilities.

This JV was inked in an effort to cater to India’s growing automotive sector and fuel RIL’s vision of emerging as a significant global player in the synthetic rubber business. Anticipated investment involved in this project is expected to be around USD 450 million.

INFOTEL TAKE OVER

In June 2010, Reliance Industries entered into an agreement to acquire a substantial stake in Infotel Broadband Services Pvt. Ltd. - a successful bidder in all the 22 circles of the auction for Broadband Wireless Access (BWA) Spectrum conducted by the DoT. Following the acquisition, Reliance agreed to invest about Rs. 4,800 crore by way of subscription to fresh equity capital at par to be issued by Infotel Broadband.

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Infotel Broadband has been included as a subsidiary of Reliance Industries Limited and Unlisted Infotel Broadband Services agreed to pay Rs. 12,848 crore ($2.7 billion) for the spectrum to the government.

This deal marks RIL’s entry into India’s telecom sector. After announcing this deal, RIL, in its official stamen said, “RIL’s initiative will usher in a wireless broadband revolution in both, the urban and the rural areas all across the country by providing end-to-end data solutions for business enterprises, social organizations, educational and healthcare institutions and Indian consumers. This will give a fillip to rural upliftment by seamlessly connecting information and markets to the rural population on a real-time basis and will help bridge the rural-urban divide in terms of access to knowledge and information.”

2008

HUALON CORP AGREEMENT

In September 2007, Reliance Industries acquired the assets of Hualon Corporation - a leading polyester to textile manufacturing company and exporter in Malaysia with a polyester (fibre, yarn and resin) manufacturing capacity of half a million tons per annum along with downstream textile manufacturing capabilities spread over two locations in Malaysia, in Nilai and Malacca. This acquisition bestows RIL with more than 7% global market share in polyester fibre and yarn.

This acquisition is the second international acquisition by RIL in the polyester sector after it successfully took over Trevira in Germany in 2004. Following this deal, RIL Chairman Mukesh Ambani noted that the integrated assets of Hualon will help RIL comprehend the entire textile value chain and RIL will “graduate to become a solution provider to the global textile industry. This acquisition reiterates our strong commitment to the growth of polyester.”

GAPCO TAKE OVER

In September 2007, Reliance Industries acquired a majority stake and the management control of Gulf Africa Petroleum Corporation (GAPCO), a company with a significant presence in East Africa in the petroleum downstream sector. The acquisition has been made through a wholly owned subsidiary of RIL, Reliance Industries Middle East, Dmcc (RIME), a company registered in United Arab Emirates.

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Following the deal, RIL noted that GAPCO was a strategic acquisition which would give it access to the rapidly growing economies of east Africa, where demand for petroleum products is on the rise. It also said that acquisition of GAPCO is a strategic step towards achieving RIL’s global vision in the petroleum downstream sector by integrating the entire value chain consisting of Refining, Shipping, Trading, Terminalling and Marketing through retail and wholesale segments. Reliance holds significant expertise in the petroleum downstream sector in India and by leveraging on this expertise, RIL hopes to significantly contribute to the petroleum downstream sector in East Africa and play key role in the economic growth of the region.

2007

IPCL MERGER

In March 2007, The Board of Directors of Reliance Industries announced the merger of Indian Petrochemicals Corporation Limited (IPCL) - a leading commodity polymers firm - with RIL. RIL and IPCL are known industry leaders in the petrochemicals sector. As part of the divestment program of the Government of India, RIL acquired 26% equity in IPCL in the year 2002 and thereafter increased its holding to 46% through an open offer. From 2002 to 2007, several initiatives were introduced to increase capacity utilization, reduce operating costs and improve financial management of IPCL’s operations, with the support of RIL, creating significant improvement in IPCL’s capital structure. The merger assured shareholders of IPCL an opportunity to de-risk their investment by participating in the growth opportunities at RIL. It also sought the integration of management resources with economic interest while providing for free flow of products and intellectual capital between the two companies. The merger came into effect in September 2007.

2004

NOCIL TAKEOVE

In Januray 2004, Reliance Industries announced its plans to take over the petrochemical and plastic products divisions of National Organic Chemicals Industries Ltd (Nocil), via its associate company Sunbright Cement Agencies.

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Faced with financial and labour trouble, the Arvind Mafatlal group-promoted Nocil shut down on April 16, 2002, after many failed restructuring proposals. Sunbright, a business associate of Reliance, signed a Memorandum of Understanding (MoU) with Nocil, according to which, assets of Nocil's petrochemicals division, certain liabilities of the company, and businesses and undertakings of the plastic products division as a going concern basis would be demerged from Nocil and be vested in wholly owned subsidiary Nocil Petrochemicals Ltd (NPL).

With this acquisition, Reliance, which already holds 70 per cent of India's petrochemicals business added another 65,000 tpa of ethylene, 35,000 tpa of propylene, 17,000 tpa of Benzene and 10,000 tpa of Butadene capacity to its existing petrochemicals process.

2003

RIL - Bongaigaon Refinery & Petrochemicals Ltd DEAL

In November 2003, Reliance formed a strategic alliance with Bongaigaon Refinery & Petrochemicals Ltd. (BRPL) to restart PSF manufacturing at BRPL. Under this alliance, RIL agreed to provide technical and manufacturing support for achieving both full capacity utilization and quality excellence. In addition, RIL was responsible for raw material supply and marketing the entire output while BRPL retained control over operations and maintenance of the plant. A 50:50 profit sharing ratio was agreed upon by both parties.

As a part of this deal, RIL was handed the charge of BRPL’s PSF plant at Dhaligaon in Assam, with PSF capacity of 34,200 MT per annum and production capacity of 45,000 MT of dimethyl terephthalate (DMT) feedstock for PSF production annually. The plant had been shut down because of the uneconomical size of the plant and logistical difficulties faced in sourcing raw materials and marketing of finished petro products in distant markets. The alliance sought to garner additional volumes from the new tie-up and help the group strengthen its position.

RIL DUPONT DEAL

In March 2002, Reliance signed a Memorandum of Understanding (MOU) with its partner of 20 years DuPont Polyester Technologies (DPT) to license the revolutionary resin technology known as NG-3 from DuPont. Through this deal,

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Reliance looked to expand its existing RelpetTM polyester packaging resin (PET) capacity of 80,000 tonnes per year to 300,000 tonnes per year by building the world’s first plant based on the NG-3 process. The deal looked at establishing a new world-scale plant, to be located alongside the existing facility for RelpetTM at Hazira, with a capacity of 220,000 tonnes per year. The new plant sought to employ NG-3, the "newest generation" process from DuPont, uniquely designed to produce high molecular weight PET resin for the fast-growing bottle market, end users for which include packaging for brand name carbonated soft drinks and bottled drinking water.

The new range of RelpetTM products from the DuPont NG3 technology contracted to deliver customers in both domestic and overseas quarter the twin benefits of

shorter moulding cycle times and lower energy consumption in the production of bottles.

2002

RIL - RPL MERGER

In March 2002, the merger of Reliance Petroleum Limited with Reliance Industries Limited was announced after consensual agreement between boards of the two companies. This merger was noted as the largest ever merger in India. Following this merger, Reliance Industries became the largest private sector company in India on all major financial parameters including sales, profits, net worth, assets, and export. The exchange ratio recommended by both boards was 1 (one) share of RIL for every 16 (sixteen) shares of RPL. RIL agreed to issue 6.92 crore new shares, thereby increasing its equity capital to Rs 1,643 crore. It also led RIL to enclose 3.7 million shareholders.

As per the merger agreement, RIL’s holding in RPL stood to be cancelled, although RIL would go on to become one of the top 10 private sector refining companies of the world. Also, through this merger, RIL stood to become the world’s largest producer of Ultra Clean Fuels at single location. The merger would catapult RIL among the world's 50 most profitable companies; top 10 among the non-state owned refining companies; top 15 of independent upstream companies and the fifth-largest producer of poly-propylene.

The merger was agreed upon to unlock significant operational and financial synergies that exist between RIL and RPL.

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Environmental record

Reliance Industry is the worlds largest polyester producer and as a result one of the largest producers of polyester waste in the world. In order to deal with this large amount of waste they had to create a way to recycle the waste. They operate the largest polyester recycling center that uses the polyester waste as a filling and stuffing. They use this process to develop a strong recycling process which won them a reward in the Team Excellence competition.

Reliance Industries backed a conference on environmental awareness in New Delhi in 2006. The conference was run by the Asia Pacific Jurist Association in partnership with the Ministry of Environment & Forests, Govt. of India and the Maharashtra Pollution Control Board. The conference was to help bring about new ideas and articles on various aspects of environmental protection in the region. Maharashtra Pollution Control Board invited various industries complied with the pollution control norms to take active part in the conference and to support as a sponsor. The conference proved effective as a way to promote environmental concern in the area.

Awards and recognition

International Refiner of the Year in 2005 at the 23rd Annual Hart's World Refining and Fuels Conference .

According to survey conducted by Brand Finance and The Economic Times in 2010, Reliance is the second most valuable brand in India.

Awards for managers

Mukesh D. Ambani received the United States of America-India Business Council (USIBC) leadership award for "Global Vision" 2007 in Washington in July 2007.

Mukesh D. Ambani was conferred the Asia Society Leadership Award by the Asia Society, Washington, USA, May 2004.

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Mukesh D. Ambani is The Economic Times Business Leader of the Year Mukesh Ambani was ranked as the 74th Most Trusted Individual in India in

an early 2010 survey conducted by the Indian edition of Readers' Digest

Stock

According to the company website "1 out of every 4 investors in India is a Reliance shareholder.". Reliance has more than 3 million shareholders, making it one of the world's most widely held stocks. Reliance Industries Ltd, subsequent to its split in January 2006 has continued to grow. Reliance companies have been among the best performing in the Indian stock market.

Being the most valued Indian company, RIL also had it’s share of ups and downs,

On May 30, 2011 RIL stock slumped 4% as investors were found fretting over reports that the Central Bureau of Investigation was probing a former upstream regulator for his alleged favoring of private-sector energy companies.The leaked CAG’s draft report affected RIL’s shares, making the stock descent by 10.5 percent by 23rd of June, 2011.

RIL also lost it’s status as India’s most valuable firm on the 17th of August, 2011 to Coal India as RIL’s stock value decreased to 70% of the value in 2011.However, on 29th August, 2011, RIL regained it’s no 1 position as India's most valued firm status by toppling state run ONGC.

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