Oil-to-telecom conglomerate Reliance Industries (RIL) has made history as the first Indian company to achieve a market capitalisation of Rs 20 lakh crore. RIL’s journey began in 1966 when it was established as a modest textile manufacturer by Dhirubhai Ambani. The company played a significant role in introducing the equity culture in India through its IPO in 1977. Over the years, RIL transformed into a conglomerate with interests in petrochemicals, oil & gas, retail, telecom, and financial services. Today, RIL is ranked 44th among the world’s top 50 companies by market cap.

RIL reached the Rs 1-lakh-crore market cap milestone for the first time on August 2, 2005, the same day when India’s (or BSE’s) market cap crossed Rs 20 lakh crore. Today, RIL’s market cap surpasses the combined value of all Indian companies 19 years ago. Despite its exponential growth, RIL maintains a consistent 5% share in India’s market capitalisation since 2005.

RIL has been India’s most valued company for over a decade and achieved another milestone by becoming the first Indian company to reach the Rs 10-lakh-crore market cap mark on November 28, 2019. The journey from Rs 1 lakh crore to Rs 10 lakh crore took 14 years, while the subsequent journey to Rs 20 lakh crore took just over four years.

RIL’s market cap dominance in India is evident as it leads the country’s second most valued company, TCS, by Rs 5 lakh crore. Comparing RIL to global oil & gas peers, it lags behind Aramco, Exxon Mobil, and Chevron, but surpasses Shell and PetroChina in market cap.

RIL’s growth strategy involved forward and backward integrations, such as setting up refineries and petrochemical plants. It later entered the oil exploration sector and, in 2006, ventured into the consumer retail space. Ten years later, RIL expanded into the telecom industry. The conglomerate also has subsidiaries in media, life sciences, green energy, and logistics. In 2023, RIL plans to demerge Jio Financial Services, which currently has a market cap of Rs 1.7 lakh crore.

The majority stake in RIL is held by the promoters, led by billionaire Mukesh Ambani, while the remaining shares are owned by funds and individuals. With his majority stake, Ambani retains his position as Asia’s richest person, with a net worth of $109 billion. RIL boasts a shareholder base of nearly 3.5 million investors and has witnessed an increase of 1.2 million individuals over the past four years.

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