Jio Platforms Limited is likely to have a valuation of $148 billion by the time it goes public on the back of strong free cash flow and potential deleveraging, ICICI Securities said.
Ambani is also the year's biggest gainer, adding USD 9.3 billion to his wealth amid the continuing success of his Reliance Jio broadband telco service.
The grand Ambani wedding is being held at the Jio World Convention Centre.
Telecom major Bharti Airtel's Sunil Mittal is seen moving toward joining this super-elite club with a net worth of about Rs 91,500 crore (Rs 915 billion). Wipro's Azim Premji, is at fifth place with a net worth of about Rs 50,600 crore (Rs 506 bn).
RIL had said at that time the allegations were baseless and devoid of any merit.
'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.'
Analysts expect RIL to report consolidated revenue of Rs 1.40 trillion and 10 analysts expect RIL's net income to be Rs 9,629 crore
The Harvard alum has known the Yale alum for ages, but hit it off recently.
Ambani's wife Nita Ambani, a non-executive director on the company's board, earned Rs 600,000 sitting fee.
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.
The licensee will have to ensure that at least half the areas under rural telecom exchanges gets the required street level coverage.
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.
About 55 banks participated in the deal, making it the largest bank group for a syndicated loan in Asia so far this year.
In the Forbes rich list Mukesh Ambani is ranked 39th.
Gautam Adani, who is diversifying into many businesses, saw a 48 per cent rise in his wealth to Rs 1.40 lakh crore and moved up two places in rankings to being the fourth richest Indian. Hinduja Brothers and HCL's Shiv Nadar were ranked 2nd and 3rd. Wipro's Azim Premji slipped two places to fifth place.
Equity benchmark indices Sensex and Nifty fell on Friday, extending their downward journey to the third day, as investors continued to reel under pressure caused by the imposition of high tariffs and relentless foreign fund outflows.
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.
Film folk attended the Ganesh Chaturthi celebrations at Nita and Mukesh Ambani's residence, Antilia, in Mumbai.
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.
Several film folk paid their last respects to Sanjay Khan's wife Zarine Khan, as she passed into the ages on November 7. The funeral was held at the Juhu crematorium in northwest Mumbai.
She was the artist who performed at Anant and Radhika Ambani's raas garba function.
'The top 11 billionaires in India added so much to their wealth during the pandemic that it would have sustained MNREGA for 10 years or the ministry of health for 10 years.'
He urged every investor to follow his steps and invest in Gujarat.
'You must be good at using AI as a tool of learning but do not give up your own critical thinking.'
The Mumbai police were on high alert after an X user @ffsfir wrote a post about the potential threat which reads like "My mind is wondering shamelessly that half the world would go upside down tomorrow after a bomb went off at the Ambani wedding. trillions of dollars in one pin code."
Billionaire Mukesh Ambani-led Reliance Industries on Monday sold 85 lakh shares of Asian Paints for Rs 1,876 crore through an open market transaction.
To showcase their family at Radhika Merchant-Anant Ambani's sangeet ceremony, they chose to dance to the song, Deewangi Deewangi, from Om Shanti Om.
Bankers said as part of its debt reduction plan, Canada's Brookfield-sponsored India Infrastructure Trust acquired a pipeline for Rs 13,000 crore from East West Pipeline Ltd, an arm of Reliance Industries Holding Private Ltd, and all the liabilities are now off the subsidiary's books.
It was a proud evening for Shah Rukh Khan, as elder son Aryan Khan shone under the spotlight for his first ever premiere.
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.
Film folk mourned Zarine Khan and condoled with her family at her prayer service on November 10 at Mumbai's JW Marriott hotel.
Thousands of devotees gathered in Mumbai to bid farewell to Lalbaugcha Raja and other Ganesh idols, marking the end of the 10-day Ganesh festival. Security was tight following a threat message.
The newlywed couple, Anant and Radhika, witnessed athletes showcasing their remarkable skills against tough opposition in Paris
If the crisis worsens it could jack up India's oil import bill by over $20 billion this fiscal, at close to $200 billion.
US sanctions against two of Russia's largest oil companies are expected to impact Reliance Industries' crude imports from Russia, while state-run refiners may continue purchases through intermediary traders for now.
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 Ambani family has been a forerunner and led the way in promoting Indian crafts and fashion.
'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.
Hint: She's closely related to the bride, Radhika Merchant.
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