Dhirubhai Ambani and Champaklal Damani co-founded Reliance Commercial Corporation in the 1960s. The partnership ended in 1965, and Dhirubhai continued the firm's polyester business. Reliance Textiles Engineers Pvt. Ltd. was established in Maharashtra in 1966. In the same year, it established a synthetic fabrics mill in Naroda, Gujarat. It was renamed Reliance Industries Limited on May 8, 1973. In 1975, the company expanded into textiles, with "Vimal" eventually becoming its main brand. In 1977, the company held its initial public offering (IPO).
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