RNRL was initially started with a different name – Reliance Platforms Communications Company Private Limited. It was started in the year 2000 by the billionaire Anil Ambani, the son of late Dhirbuhai Ambani. It changed its name to Reliance Natural Resources Limited (RNRL) after it went to IPO in 2005.
RNRL was initially started as Reliance Platforms Communications Company Private Limited in March 24, 2000. It is a company in the group of famous Indian billionaire – Anil Dhirubhai Ambani. It comes under his group of companies called Anil Dhirubhai Ambani Group or simply ADAG.
RNRL – Reliance Natural Resources is a company mainly about extracting or buying natural gas and supplying, transporting the gas to customers. It also does coal and other liquid fuels business. Presently its sourcing of gas is disputed in court over a contract that it got with RIL (Reliance Industries Limited) in December 2005. Once the case settles in favor of RNRL, its business will boom.
Anil owns a lot of companies in his ADAG group. And all of them are strong performers in good economic times. The businesses of these groups are in such a way that they deliver more than normal during bull market cycles. The same is true in the opposite times also. In the present worse economic situations, his businesses are not supposed to do well. But he is trying his best to perform well atleast better than expected!
The company RNRL was not the name till 2006. It was initially a private limited company with Anil Ambani being the major shareholder. It went to IPO on July 25 2005. Its name has been changed to RNRL or Reliance Natural Resources Limited only on January 9 2006.
The shares of RNRL on the Bombay Stock Exchange and National Stock Exchanges did pretty well starting from Rs. 10/- to highest value of 249/- on January 9 2008. Since then the share value of RNRL plummeted all the way down and down back to 40/- last October. The stock price of RNRL has now recovered back to 80-100 range in the last month.
The biggest loser in the crash of RNRL is no one but its chief shareholder who is Mr. Anil Dhirubhai Ambani. Even though he is not the no. 1 billionaire in the country he is said to have been the no. 1 loser of money in terms of absolute value due to the heaviest crash of 2008!