Buy-back worth Rs. 1,000 crore will be funded from investments made by the company in liquid and marketable securities.
The US Eximbank is believed to have sanctioned $910 million in loan guarantee towards equipment to be supplied to Anil Ambani Group's Rs 20,000 crore (Rs 200 billion) power project in Madhya Pradesh, India.
Shares of Reliance Industries plunged on Friday after a court ruling that the Mukesh Ambani-led company can not sell its KG basin gas to any company except NTPC and Anil Ambani group's Reliance Natural Resources.
Three Anil Ambani Group companies -- Reliance MediaWorks, Reliance Capital and Reliance Capital Partners -- have acquired 16,196 shares, or 0.05 per cent stake, of Fame India through open market transaction, Reliance MediaWorks said in a filing to the Bombay Stock Exchange.
The National Company Law Appellate Tribunal (NCLAT) on Thursday allowed a petition filed by lenders of Reliance Capital seeking another round of auction for the debt-ridden firm undergoing insolvency process. A two-member bench set aside an order passed by NCLT and said the Committee of Creditors (CoC) has the power to negotiate and call for a higher bid. The appellate tribunal permitted the CoC to continue with the challenge mechanism and invite bids after two weeks.
Stating that Anil Ambani Group firm's project was neither installed nor operating, petroleum minister Murli Deora had earlier this week told Parliament that the Dadri project would be considered for allocation of gas along with similar other upcoming projects. RPower said it had initiated the ICB process for selection of EPC contractors for its power plants way back in 2005 but not concluded owing to Mukesh Ambani promoted Reliance Industries Ltd's refusal to supply gas.
The company had raised a similar amount of debt in FY 09 as well. Reliance Power has bagged three of four contracts for developing UMPPs in the country.
Anil Ambani Group firm Reliance Power has chalked out an ambitious plan to invest about Rs 80,000 crore (Rs 800 billion) in the next three years for creating 20,000 MW of thermal power generation capacity.
Reliance Industries chairman Mukesh Ambani will appeal against the fine imposed by market regulator SEBI over alleged irregularities in a two-decade-old share issue in the company, the firm said on Thursday. Reliance Industries Ltd (RIL) had issued debentures with convertible warrants in 1994 and allotted equity shares against the warrants in 2000. This was when Dhirubhai Ambani was heading the undivided company.
Aiming to become one of the top five cement companies in the country, Anil Ambani group company Reliance Infrastructure has chalked big plans to set up plants which entail an investment of Rs 10,000 crore.
Anil Ambani group firm Reliance Communications on Monday said news reports that it was acquiring the English Premier League club Newcastle United for an estimated 260 million pounds were false and baseless.
Anil Ambani group firm Reliance Communications denied news reports that it was acquiring the EPL club Newcastle United for an estimated 260 million pounds.
Maharashtra home minister Anil Deshmukh told news channels that the vehicle, a Scorpio van, was found some distance away from the multi-storey residence of Ambani, the chairman of Reliance Industries.
Mysterious text messages have begun circulating in Mumbai praising Anil Ambani, the Indian businessman.
Anil Ambani group company FLAG Telecom on Wednesday announced the appointment of Punit Garg, who was heading Reliance Infocomm's international business, as its president.\n\n
Anil Ambani Group firm Flag Telecom on Monday announced the acquisition of US-based Ethernet services provider Yipes Communications for 300 million dollars (Rs 1,200 crore) in cash.
The power sector has been notorious for missing capacity addition targets and it remained just that in 2008.
As Mumbai's real estate and electric vehicle penetration grows, two of the city's private power distribution companies, Adani Electricity and Tata Power, are eyeing a bigger business pie, particularly betting on high-value customers. Adani Electricity Mumbai (AEML), the subsidiary which houses Adani Energy Solutions' Mumbai distribution business, recorded a six per cent growth in total units sold in the financial year 2023-24 (FY24), the company's presentation shows. This gain came at over 13 per cent growth in the year-ago period.
The Bharti group has applied to the government for a licence to operate direct-to-home television services.
The Harvard alum has known the Yale alum for ages, but hit it off recently.
Riding high on a sharp growth in subscriber base, Anil Ambani group's telecom arm RCOM on Thursday reported a 23.9 per cent jump in its first quarter net profit at Rs 1,512 crore (Rs 15.12 billion) and announced plans to invest over Rs 25,000 crore (Rs 250 billion) in the current fiscal.
The Anil Ambani group on Friday asked market regulator SEBI to probe hammering down of shares of Reliance Communications and other companies by rivals and charged RIL with attempting to derail ongoing talks for a deal with South African telecom giant MTN.
The company will invest Rs 16,000 crore (Rs 160 billion) for network expansion in FY08, said ADAG chairman Anil Ambani on Tuesday in Mumbai.
Hollande said only Dassault can comment on whether India had put pressure on Reliance and Dassault to work together.
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 National Company Law Tribunal (NCLT) on Monday gave its approval to Jio for the acquisition of Reliance Infratel (RITL). The tribunal asked Jio to deposit Rs 3,720 crore in the State Bank of India (SBI) escrow account to complete the acquisition of RCOM's tower and fibre assets. On November 6, Jio had proposed to deposit Rs 3,720 crore in an escrow account to complete the acquisition of Reliance Infratel which is undergoing an insolvency resolution process.
The government on Monday refused to review its decision rejecting the price of natural gas proposed to be sold by Reliance Industries Ltd to an Anil Ambani group firm.
Plan C Studios will also be producing films being helmed by various directors!
The FIR was registered against Deshmukh and some unidentified persons on April 24 this year on charges of corruption and misconduct following a preliminary inquiry that the CBI conducted in compliance with the high court's order.
The prime minister must clear his stand on the Rafale deal after Hollande's remarks, he said.
Finance ministry advises banks to invoke personal guarantees of all promoters whose companies have gone to NCLT for debt resolution.
Karisma and Kareena Kapoor's cousin Armaan Jain had a fun mehendi ceremony over the weekend, as his large family came together for the special occasion.
The finance ministry has asked public sector banks to monitor cases where insolvency proceedings could be initiated against individuals who are guarantors of corporate debtors that have defaulted on loans.
The Congress has alleged irregularities in the deal for 36 aircraft and claimed that the Narendra Modi government is buying them at a price much higher than the one that was being negotiated by the previous government. The party has also been accusing the government of favouring Anil Ambani's firm in the deal.
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.
Raut said the ED notice to Parab was "expected" and the party would fight it legally.
The development comes on a day the Supreme Court adjourned Anil Deshmukh's plea, which sought protection from any coercive action by the Enforcement Directorate in the criminal case registered under various sections of the Prevention of Money Laundering Act, and said it would hear his petition on August 3.
Sonam Kapoor and Isha Ambani partnered up for a fund-raiser recently. A star-studded event, the guests looked very glamorous as they sashayed in in their designer wear.
Ambani brothers on Wednesday showered lavish praises on Prime Minister Narendra Modi saying, India has now got a decisive and visionary leader.
Hiran's body was found in a creek in Thane district on March 5.
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