Forbes said Prime Minister Narendra Modi's "economic experiments" barely affected India's billionaires while none gained more than oil-and-gas tycoon Mukesh Ambani, who cemented his decade-long hold on the top slot by adding a staggering USD 15.3 billion (67 per cent) to his last year's wealth to become one of Asia's top five richest.
ICICI Securities expects Jio Platforms' ensuing IPO to fetch "premium valuations", as was the case in the high-profile equity raise of FY21, and has pegged the company's equity value at $148 billion by September 2027.
Who else will take on the might of Microsoft, Google, and Amazon if not the Adanis, Ambanis, Birlas, or Tatas?, asks R Jagannathan.
The broker close to Ambani family, said that one of the biggest reasons for the truce to come about so swiftly was that it opens up new areas -- like financial services, telecommunications, media, among others -- for Mukesh Ambani to enter into. He said that the elder Ambani has ambitions to establish a major bank on the lines of private sector giants like ICICI Bank and HDFC Bank.
Ambani said Reliance raised Rs 1.15 lakh crore from global tech investors by selling a little less than a quarter of the firm's digital arm, Jio Platforms Ltd, and another Rs 53,124.20 crore through a rights issue.
Life Insurance Corporation of India (LIC) has made the most of the stock market boom by reducing stakes in all its top conglomerates during the financial year 2023-2024 (FY24). However, even after reducing exposure, the value of its remaining stake has gone up substantially across all groups, according to data collated from stock exchange filings.
Glitz, glamour and lots of joy marked the celebration.
The business value of the league, popularly called the IPL, surged to a record $18.5 billion last year, U.S.-based investment bank Houlihan Lokey says.
Ambani now holds 80.52 lakh shares or 0.12 per cent of RIL, up from 75 lakh shares held before the rights issue. His wife Nita and children Isha, Akash, and Anant too got 5.52 lakh shares each after they subscribed to the rights offering. They, too, hold 0.12 per cent each in the firm.
Its trajectory in telecom is well known but now it is pushing for a similar leap into the ranks of the top players in its other businesses: media and entertainment, e-commerce, a series of online businesses ranging from health to education, and retail.
Having missed most of the first three industrial revolutions, India has its chance to lead the fourth industrial revolution through a convergence of its IT prowess, ultra-high-speed internet connectivity and affordable smart devices, billionaire Mukesh Ambani said on Thursday. The richest Indian, who heads the nation's most valuable company Reliance Industries, said his group's telecom and digital unit Jio was conceived to provide the key ingredients needed to lead the fourth industrial revolution.
The 2025 contraction marks the steepest decline in both the number of billionaire promoters and their aggregate wealth since 2012.
Adani Group said on Friday it will invest around Rs 1 trillion in various sectors of Andhra Pradesh over the next ten years, deepening its commitment in the state where it will partner with Google for an artificial intelligence (AI) hub in Visakhapatnam.
The combined networth of India's 100 wealthiest is $381 billion (nearly Rs 25.5 lakh crore), a rise of 10 per cent from $ 345 billion in 2015
The Harvard alum has known the Yale alum for ages, but hit it off recently.
The 2016 upstart, called Jio, dislodged rivals and has emerged as the nation's No. 4 carrier by offering call services free for life and data transmission at dirt cheap rates.
India has the third highest number of billionaires in the world after the US and China, according to a new list by the prestigious Forbes magazine, which said Reliance Industries chairman Mukesh Ambani reclaimed his spot as Asia's richest person, dethroning Chinese business tycoon Jack Ma who was the richest person in the region a year ago.
Andhra Pradesh Chief Minister Y S Jagan Mohan Reddy met business tycoons Mukesh Ambani of the Reliance Group, Naveen Jindal of Jindal Steel, G M Rao of the GMR Group, founder-chairman of Cyient B V Mohan Reddy among others at the Global Investors Summit 2023 'Advantage Andhra Pradesh' in Vishakapatnam, March 3, 2023.
Continuing its attack on the Anil Dhirubhai Ambani Group, the Mukesh Ambani camp on Tuesday alleged that shares of their group worth nearly Rs 535 crore (Rs 5.35 billion) were transferred "fraudulently" -- a charge denied by ADAG stoutly.
The move comes within days of RNRL approaching the apex court to become a party to the petition filed by NTPC against RIL that seeks quashing of the Bombay high court, which allowed the Mukesh Ambani group firm to amend its petition.
About 55 banks participated in the deal, making it the largest bank group for a syndicated loan in Asia so far this year.
Others in the top 10 include Uday Kotak at the 6th place with a wealth of Rs 94,100 crore, Cyrus S Poonawalla at 7th position with Rs 88,800 crore assets, Cyrus Pallonji Mistry at 8th spot with a wealth of Rs 76,800 crore, Shapoor Pallonji at 9th position with a net worth of Rs 76,800 crore and Dilip Shanghvi at 10th slot with Rs 71,500-crore wealth.
The newlywed couple, Anant and Radhika, witnessed athletes showcasing their remarkable skills against tough opposition in Paris
Over a third of Ambani's speech was focussed on RIL's plans.
'Modiji's team has consented to his appearance at the wedding. But it can't be more than a fleeting appearance.'
Ambani and Adani account for a fifth of the net worth of all billionaire promoters in the country and half the combined net worth of the top 10.
The supplies to Anil Ambani Group's power plants including the one proposed at Dadri near Delhi, will be subject to government approving the allocation of the fuel, Mukesh Ambani said.
On August 21, the division bench had suggested that the two warring sides should seek the help of their mother Kokilaben Ambani to resolve the issue. The billionaire brothers are fighting over supply of natural gas from RIL's eastern offshore KG gas fields.
In the midst of a renewed feud between the Ambani brothers, the younger sibling Anil called on Finance Minister P Chidambaram on Monday.
While Reliance has the clout to negotiate prices with suppliers for its e-commerce, not to forget the cost advantage of integrated warehouse and supply chains, Amazon and Walmart are no pushovers, they too have deep pockets.
In another twist to the feud between the Ambani brothers, the younger sibling Anil's Group is understood to have filed a defamation suit for a whopping Rs 10,000 crore (Rs 100 billion) against elder Mukesh Ambani for remarks purported to have been made by him in an interview with the New York Times several weeks ago.
Additional levy to eat into Rs 6,000-crore income of top promoters
Prime Minister Narendra Modi is not taking along an industry delegation to the US but top representatives of India Inc are likely to travel to New York and Washington to be part of the power-packed business meetings and receptions being hosted for him.
'This is the Bengal story, where businesses are nurtured, dreams are realised, and legacies are built.'
Multiple residential units are being developed for housing senior executives of Reliance Anil Dhirubhai Ambani group at a plot in Pali Hill of Bandra.
Billionaire Mukesh Ambani's children -- Isha, Akash and Anant -- on Monday were appointed on the board of his energy-to-technology conglomerate Reliance Industries Ltd, in what is seen as a clear path of succession planning at India's most valuable company.
West Bengal Chief Minister Mamata Banerjee has left no stone unturned this year after big industrialists, along with Union ministers, skipped attending the BGBS 2017.
Shiv Nadar and family donated Rs 2,708 crore (Rs 27.08 billion) in 2024-2025.
It was delight for owner Nita Ambani and elder son Akash Ambani as five-time champions Mumbai Indians demolished Lucknow Super Giants in the IPL Eliminator match.
'Instead of one or two families controlling 10% to 15% of GDP, it has to be broad based. Then, the resilience of the economy also will be higher.' 'Then, if something happens to one business, it will not hurt the economy badly.'
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