Anil Ambani controlled Reliance Power, which received a tremendous response for its initial public offer, has fixed the issue price at Rs 450 per share, but it will be offered at Rs 430 to retail investors, a discount of Rs 20. "The company's board has fixed the issue price at top-end at Rs 450 per share for the Reliance Power issue and for retail investors at Rs 430 per share," Reliance Power chairman Anil Ambani said on Saturday.
The group said Dassault choose Reliance Defence Ltd to meet its 'offset' or export obligation in the contract and the Ministry of Defence has no role in the selection of Indian partners by the foreign vendors.
"The new name reflects the branding philosophy followed by the ADA Group, where name signifies the space in which business operates and create a sharper brand presence among the stakeholders. The name change will not affect any of the rights of the company or the shareholders of the company," a senior company official said. The board of directors has decided to change the name of the company, subject to the shareholders approval and compliance with related formalities.
The revised GSMA was signed pursuant to the Supreme Court's May 7 judgement, turning down RNRL's demand for cheap gas from RIL based on a family agreement.
Reliance Industries Ltd vice chairman Anil Ambani on Wednesday fired another salvo at his elder brother Mukesh, accusing a key director of one of the group companies of sullying the group's image.
Reliance Capital Ltd (RCL), part of the debt-ridden Anil Ambani-promoted Reliance Group, has received 10 more bids, including from SBI Life, for its subsidiaries, sources said. Earlier this month, the Committee of Debenture Holders had extended the last date for submission of expression of interest (EoI) to December 17, 2020. Following this, 10 new bids have come in for Reliance Capital's assets, taking the total number of bids to 70, the sources said.
Exuding confidence in setting up a profitable banking venture, industrialist Anil Ambani on Tuesday said the proposed bank will help lower Reliance Capital's debt to one-fourth of current levels and would be listed as a separate entity in three years.
Hollande said only Dassault can comment on whether India had put pressure on Reliance and Dassault to work together.
After announcing his re-entry into telecom a few days ago following a patch-up with younger brother Anil Ambani, Reliance Industries' chairman Mukesh Ambani on Friday said that prospects of the sector were much brighter now than they were at the time when he had spearheaded the undivided group's foray.
RIL, ADAG cancel 2006 non-compete agreements, hope to work in harmony
Anil Ambani group counsel Mukul Rohtagi said he had no objection.
The CEOs, sources said, also discussed the steps to raise domestic production of coal.
The Reliance Anil Dhirubhai Ambani Group plans to develop Baramati, about 100 km from Pune, as a hub for private jets, with airports in Mumbai and Pune facing acute shortage of parking bays. Baramati is also the home town of Union agriculture minister and Nationalist Congress Party chief Sharad Pawar.
As if rejecting the truce offer made by Anil Ambani to estranged brother Mukesh, Reliance Industries Limited sources on Sunday said this was yet another attempt to present corporate dispute as a family feud.
The new executive director of Reliance Capital has big shoes to fill in every way.
Reliance Comm wants all of Hutch Essar at one go.
Three special economic zones promoted by Mukesh Ambani and Anand Jain in Navi Mumbai are among among 36 proposals that got cleared by the Board of Approval on Friday.
The Reliance-Anil Dhirubhai Ambani Group on Friday announced a tentative schedule for merger of two firms transferred from Mukesh Ambani group.
In a sharp retort to a notice of gas supply suspension to one of its power plant, Anil Ambani group firm Reliance Infra on Wednesday questioned the legality of Mukesh Ambani-led RIL's warning for not paying an "illegal" marketing margin.
RIL is grappling with other priorities -- sliding oil prices, shrinking refining margins and a battle with the Anil Ambani group over the supply of gas. The plan was to build an integrated pharma company in two to three years, on the lines of large domestic majors such as Ranbaxy's or Dr Reddy's Laboratories. Instead, the plan has been modified to being a start-up bulk drug manufacturing company that will launch six bulk drugs or active pharmaceutical ingredients by 2010.
The director leaves Viacom's Paramount studio for a $1.2 billion deal to launch his own filmmaking company with the India entertainment group.
Insurance sector regulator IRDAI has given conditional approval to Hinduja Group firm IndusInd International Holdings Ltd (IIHL) for the takeover of debt-ridden Reliance Capital. "We are happy to acknowledge the receipt of approval from IRDAI yesterday (May 10, 2024) on the auspicious occasion of Akshay Tritiya. "The approval is subject to certain 'regulatory, statutory, and judicial' clearances/compliances," an IIHL spokesperson said in a statement.
French sources say Hollande was motivated to speak out after an Indian media report revealed that the Reliance Group had part-funded a film venture by his domestic partner, French actress Julie Gayet.
According to sources, Reliance Infratel would offer 10 per cent equity to the public valued at Rs 5,000-6,000 crore (Rs 50-60 billion). Reliance Infratel is the telecom infrastructure division of Reliance Communications Ltd.
Anil Ambani group's Reliance Entertainment and DreamWorks SKG of acclaimed director Steven Spielberg have completed the much-talked about deal for jointly making Hollywood films.
Pointing out to the 133-acre Dhirubhai Ambani Knowledge City on the outskirts of the financial capital, he said there is huge realty play opportunity that RCom's erstwhile corporate headquarters possesses, and pegged the potential value creation at the site at Rs 25,000 crore.
Welcoming the amendments proposed by the government to its petition on the Ambani gas row, Anil Ambani on Tuesday said his group company RNRL's dispute with Mukesh-led RIL was commercial and pertained to the demerger of the Reliance businesses.
Reliance Power (R-Power), which raised over Rs 12,000 crore (Rs 120 billion) in India's biggest initial public offering in January, will consider issuing bonus shares to its shareholders, excluding the promoter group.
Blaming RIL for delay in starting its Dadri power project, RNRL said it was RIL's wrongful conduct that delayed its gas-based power plant by four years. However, it had sought a direction to RIL to supply the gas immediatley to it. On July 7, the Supreme Court issued notice to RIL, RNRL and the Centre (as intervener) on cross-appeals by both the companies on their gas supply dispute.
Mukesh Ambani has resigned from the board of his group's telecom arm, Reliance Jio and handed over the reins of the company to elder son Akash, a step seen as succession planning by the 65-year old billionaire. In a stock exchange filing, Reliance Jio Infocomm said the company's board at a meeting on June 27, "approved the appointment of Akash M Ambani, non-executive director, as chairman of the board of directors of the company." This comes after his father resigned with effect from close of working hours on June 27, it said.
Responding to comments sought by the Prime Minister's Office on a letter from industrialist Anil Ambani, the ministry last week wrote that the family MoU was clearly against the provisions of the Production Sharing Contract.
The apex court also heard a plea for bringing back black money stashed in tax havens abroad.
Finance Minister P Chidambaram on Friday took stock of the power ministry's ambitious plans to set up five ultra mega power projects of 4,000 MW each envisaging an investment of Rs 75,000 crore
RTTL had moved the apex court in March last year, challenging the Bombay High Court judgement that asked it to sort out differences over the title of the property with Mukesh Ambani-run Reliance Industries. A bench headed by Justice A K Mathur dismissed RTTL's plea seeking to restrain AAI from entering into a lease agreement with Reliance Industries in respect of land measuring 2,701 sq mt at Chattrapati Shivaji International Airport in Mumbai.
One of the country's biggest corporate court battles, between Ambani brothers Mukesh and Anil, had a celebrity spectator -- King of Bollywood Shah Rukh Khan.
Reliance Infratel, a subsidiary of Reliance Communications has filed papers with Sebi for issuing IPO.
Billionaire Mukesh Ambani on Monday laid bare the succession plan at India's most valuable company, identifying twins children Akash and Isha for telecom and retail leadership, and youngest son Anant for new energy unit. He, however, insisted he isn't retiring yet and will "continue to provide hands-on leadership as before". At the annual shareholders' meeting of Reliance Industries Ltd, he said the robust architecture that he has announced will ensure the firm remains "a unit, well-integrated and secure institution even as it develops existing businesses and adds new growth engines."
"It is a rubbish petition. If I find that we you (petitioner) have tried to interfere with the investigation then you may be in bigger trouble," Justice Ajit Bharihoke said.
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