Jio Platforms Ltd, the digital and telecommunications arm of Reliance Industries, has received board approval to file draft papers for an initial public offering (IPO) involving a fresh issue of up to 27 crore equity shares. The draft red herring prospectus (DRHP) is expected to be filed with SEBI today, marking a significant value-creation event for Reliance shareholders.
Reliance Power clarifies that Amitabh Jhunjhunwala, arrested in a money laundering case, has not been associated with the group since 2019. The case involves alleged bank loan fraud through Reliance Group companies.
A Delhi court has granted the CBI's request to produce Amitabh Jhunjhunwala, a former executive of Reliance Anil Ambani Group (RAAG), before a Mumbai court in connection with an alleged bank loan fraud-linked money laundering case.
RCom's employee cost declined by 20.7 per cent.
Jio Platforms Ltd, the digital and telecommunications arm of Reliance Industries, has approved filing draft papers for an initial public offering (IPO) involving a fresh issue of up to 27 crore equity shares, aiming to unlock value for shareholders and fuel its ambitious expansion into 5G, AI, and global markets.
An Enforcement Case Information Report (ECIR), the ED's equivalent for a police FIR, has recently been filed by the federal probe agency, taking cognisance of a CBI complaint registered on August 21, the sources said.
Amitabh Jhunjhunwala, former group managing director of Anil Ambani-led Reliance Communications, has been remanded in 14-day judicial custody in an alleged bank loan fraud case. The CBI alleges misutilisation of loan funds, causing significant losses to a consortium of banks led by SBI.
Mukesh Ambani announced a 10 lakh crore investment by Reliance Industries to revolutionize artificial intelligence in India, focusing on building sovereign compute infrastructure and making AI accessible and affordable for all.
Sharing a heartfelt message on social media, Filmmaker Karan Johar reflected on a professional relationship spanning more than three decades and praised Designer Manish Malhotra's journey from his early days in Indian cinema to becoming a globally recognised name in couture.
ADAG slots Rs 1,200 cr for wind power plants
Reliance Industries Ltd (RIL) has expressed caution regarding 'extreme volatility' risks stemming from the West Asian conflict, which could impact global oil demand and the company's margins, while also noting that near-term retail consumption demand may remain sensitive to macro conditions. Chairman Mukesh Ambani, in the annual report, remained silent on the timeline for Jio Platforms' anticipated public listing, stating the group will 'continue to evaluate strategic pathways'.
The Enforcement Directorate on Thursday conducted simultaneous raids as part of a money laundering investigation linked to an alleged bank loan fraud of Rs 3,000 crore against Anil Ambani group companies and Yes Bank, official sources said.
Heavy rainfall in Mumbai on Sunday led to significant disruptions, including a one-hour suspension of flight operations at Chhatrapati Shivaji Maharaj International Airport, widespread waterlogging, and multiple treefall incidents. One person died in Kurla due to a tree collapse, marking the second such fatality in a week. The India Meteorological Department had issued a 'red' alert, with several areas recording over 200 mm of rain.
Who are the special fathers of these famous Indians? The paternal figures responsible for putting them on the right path and helping them find greatness.
Former Reliance Communications Group managing director Amitabh Jhunjhunwala has been lodged in Mumbai's Arthur Road Jail after being arrested by the CBI in connection with a multi-crore bank loan fraud case.
In a significant development, the Supreme Court on Tuesday sought responses from the Centre, CBI, ED, Anil Ambani and the Anil Dhirubhai Ambani Group (ADAG) on a PIL seeking a court-monitored probe into alleged massive banking and corporate fraud involving the ADAG and its group companies.
'You empower a man, you are not necessarily empowering a family, you are just empowering him.'
The case pertains to a bank guarantee of Rs 68.2 crore submitted to the Solar Energy Corporation of India Limited (SECI) on behalf of Reliance NU BESS Limited, a subsidiary of Reliance Power, a listed company, which was found to be "fake".
The Enforcement Directorate has issued fresh summons to Reliance Group chairman Anil Ambani to appear before it on November 17 in a FEMA case after he skipped his scheduled date on Friday.
Reliance Group Chairman Anil Ambani on Tuesday appeared before the Enforcement Directorate here for questioning in a money laundering case linked to alleged multiple bank loan fraud cases worth crores of rupees against his group companies, official sources said.
Kolkata Knight Riders, owned by the Shah Rukh Khan family and Mehta Group, emerged as the most valuable franchise.
FIFA officials are visiting India this week to try and resolve a deadlock over broadcast rights for next month's World Cup, with millions of Indian soccer fans potentially missing out on the tournament.
Only 2.5 per cent of the equity in Jio Platforms will be offloaded through the OFS route -- meant for secondary share sale.
The Enforcement Directorate has summoned Reliance Group Chairman Anil Ambani for questioning in a money laundering case linked to alleged bank loan fraud.
Prudential plc has announced its acquisition of a 75 per cent stake in Bharti Life Insurance for approximately 3,500 crore, a strategic move to secure majority ownership in the Indian life insurance market. This acquisition necessitates Prudential reducing its holding in ICICI Prudential Life Insurance to below 10 per cent.
Jio Financial Services and Munich-based Allianz Group have signed a binding agreement to establish a 50:50 joint venture for general and health insurance in India, building on an earlier reinsurance partnership.
Millions of soccer fans in the world's two most populous nations may not be able to watch the World Cup that starts next month, due to a deadlock over broadcast rights in India and no official decision in China.
All three Bharti group companies outperformed in CY25 but the biggest gain came from Bharti Airtel, the flagship.
Asia's richest man Mukesh Ambani drew nil salary from his oil-to-telecom-and-retail conglomerate Reliance Industries for the fifth year in a row and dividends remain his main source of earnings. Ambani, 68, had capped his annual remuneration at Rs 15 crore from financial year 2008-09 (April 2008 to March 2009) to 2019-20 (FY20); and since FY21, he opted to forego his salary, due to COVID-19 pandemic, until the company and all its businesses were fully back to their earnings potential.
The three companies for sale are Reliance Communications, Reliance Telecom and Reliance Infratel.
The ADA Group's recent decision to sell a stake in Reliance Communications and merge its telecom tower business with GTL Infra will help it reduce a mounting debt burden.
Sources said the letter of intent (LoI) for the group's foray into DTH was given on Monday to Blue Sky Magic, a company of the Reliance-ADA group.\n\n
Anil Ambani's Reliance ADA Group formalised its association with DreamWorks Studios promoted by Hollywood director Steven Spielberg and his partner Stacey Snider.
'We are staying away from making forward-looking statements on when we will reach 1 trillion, etc. But growth will be rapid; it's only a matter of time.'
Who else will take on the might of Microsoft, Google, and Amazon if not the Adanis, Ambanis, Birlas, or Tatas?, asks R Jagannathan.
The Canara Bank on Thursday informed the Bombay high court that it has withdrawn its order classifying as "fraudulent" the loan account of a firm linked to industrialist Anil Ambani. After the bank's disclosure, a bench of Justices Revati Mohite Dere and Neela Gokhale disposed of the petition filed by Ambani challenging the bank's order, saying nothing survives in it.
