Shah Rukh Khan's Kolkata Knight Riders have signed on Zapak Digital Entertainment, a Reliance Anil Dhirubhai Ambani Group (ADAG) venture, to develop online games for them. As part of the exclusive one-year tie-up, Zapak will create a cricket gaming zone on the official website of the Knight Riders and is said to make an investment of Rs 1 crore (Rs 10 million) in the deal. The exact value of the deal is not known. The portal has already gone live with two games.
Buoyed by tremendous consumer response and with banking on its huge roll-out plan, Anil Dhirubhai Ambani Group's brokerage and distribution arm Reliance Money expects to break-even by the end of the current fiscal.
Ambani to up ante by $3 bn on Ruia's hint at larger premium.
The Anil Dhirubhai Ambani Group-promoted Sasan Power was Rs 2,500 crore short of the roughly Rs 15,000 crore it needed to borrow for the project. Now, India Infrastructure Finance Company Ltd has agreed to lend around Rs 2,500 crore. A consortium of 12 domestic banks have already committed around Rs 12,500 crore, with State Bank of India and Power Finance Corporation leading the pack, with Rs 3,500 crore and Rs 1,800 crore respectively.
CBI on Monday submitted a list of five witnesses, including Anil Ambani, who are scheduled to be called for recording of their statements before the court.
Reliance Communications will be investing around Rs 15,000 crore (Rs 150 billion) to set up and install an additional 15,000 base transceiver stations in the country.
Reliance Anil Dhirubhai Ambani Group (R-ADAG) is all set to begin a price war in the direct-to-home market by offering its connection about 43 per cent lower than any of the existing players. Big TV will offer its DTH service for Rs 1,490, while the lowest-priced connection is currently being offered by Dish TV at Rs 2,190, followed by Tata Sky at Rs 2,400.
Broking house Reliance Money on Thursday said it plans to expand its operations in the country by taking the number of outlets up to 10,000 by the end of this fiscal. The financial services and products distribution arm of Anil Dhirubhai Ambani Group currently has around 4,000 outlets, company's Director and CEO Sudip Bandyopadhyay told reporters.
Participant Media led by Jeff Skoll and Entertainment One, a leading US-based media company, are also part of the joint venture.
The seven listed companies of the Anil Ambani Group, led by Reliance Power and RCom, made their investors wealthier by Rs 16,969 crore.
However, no formal confirmation of the meeting and the issues discussed could be obtained from either group.
This would be done either through strategic sale or initial public offering, ADAG chairman Anil Ambani told shareholders at the company's annual general meeting in Mumbai.
Reliance Defence, promoted by Anil Ambani's Reliance Infrastructure, has partnered with German arms manufacturer Rheinmetall AG to produce ammunition in Maharashtra's Ratanagiri. As part of the agreement, Reliance Defence will supply the explosives and propellants for medium and large caliber ammunition to Rheinmetall.
IndusInd International Holdings chairman Ashok Hinduja on Tuesday announced the acquisition of Reliance Capital, completing the three-year-long resolution process of the debt-ridden company. IndusInd International Holdings Ltd (IIHL) has transferred the bid amount to the escrow account of the lender, and the takeover of the management from the Administrator will happen on Wednesday.
Anil Ambani group firm Reliance Natural Resources on Friday posted a marginal increase in its net profit for the third quarter and said it hopes to get gas from Reliance Industries' KG-D6 fields once the group's Dadri power plant begins operations.
A bench of justices G S Singhvi and V Gopala Gowda said the issue raised by the accused needs to be heard before taking up other pleas challenging summoning of 13 witnesses including Reliance Anil Dhirubhai Ambani Group chairman Anil Ambani and his wife Tina Ambani.
The Central Bureau of Investigation on Friday informed the Delhi high court that its appeal against the acquittal of former telecom minister A Raja and 16 others in the 2G spectrum allocation case was 'ripe for hearing'.
Anil Ambani group firm Reliance Money on Monday joined hands with the Bombay Stock Exchange and the Bombay Bullion Association to launch the country's first organised bullion trading platform.The over-the-counter 'Bullion Spot Market' would be the first of its kind and would be operationalised within a month, the Anil Dhirubhai Ambani Group announced.
With the Mukesh Ambani-promoted Reliance Industries Ltd (RIL) planning to approach the Supreme Court, challenging a High Court order for selling gas at $2.34 per million British thermal unit (mBtu) to Reliance Natural Resources Ltd (RNRL), the chances of an agreement between the Ambani brothers by July 15 appear remote.
Anil Ambani-controlled Reliance Energy Ventures Ltd will get listed and start trading on the bourses on February 24.
The agreements between the four new companies transferred to Anil Ambani and his elder brother Mukesh's flagship company Reliance Industries may become the bone of contention.
Watch out for "3Cs -- chamchas, chelas and cronies," Anil mbani said in a subtle message amid battle for control of Reliance empire with his elder brother Mukesh.
While the merger will see the share of the promoter group increase by two percentage points, the move has also seen a few analysts raise concerns.
The Anil Dhirubhai Ambani Group is open to have partners for its insurance and mutual fund businesses, its chairman Anil Ambani said on Friday.
MSRDC wants to complete this process before exploring options of arbitration and termination of concession agreement signed with the RSOPL for the project.
According to insiders, the induction of Jai Anshul would coincide with the birthday of the late patriarch of Reliance group, Dhirubhai Ambani, in the last week of December.
Reliance Power's plans are to set up a 7,480-Mw project, which will be the largest gas-fired power project at a single location in the world.
Reliance Capital, the financial service arm of the Anil Dhirubhai Ambani Group, has already started the due diligence process and is expected to complete this by the end of this financial year.
Anil Dhirubhai Ambani Group's market capitalisation increased to Rs 86,000 crore (Rs 860 billion) following the listing of the group company -- Reliance Communication Ventures Ltd (RCoVL).
Flag Telecom, a fully owned subsidiary of Reliance Communications, is divesting 15-20 per cent of its equity stake to strategic and financial investors.
The Enforcement Directorate, which is investigating possible violations of the Foreign Exchange Management Act by some former UBS employees, has written to the UK's Financial Services Authority, seeking details of the alleged misuse of accounts of Anil Dhirubhai Ambani Group-controlled Reliance Energy and Reliance Natural Resources.
The MTN-Reliance Communications merger, if it gets through, will create a telecom behemoth of 115 million subscribers in 25 countries.
Anil Dhirubhai Ambani group company Reliance Energy said on Tuesday the amalgamation of Reliance Energy Ventures Ltd with itself has become effective from July 17.
Reliance Capital, a part of the Anil Dhirubhai Ambani Group, is looking to invest Rs 2,000 crore in insurance businesses in the next three years, which would take the company's cumulative investment in the sector to Rs 4,000 crore.
As per media reports four global financial giants, including Schroders, Blackstone and US-based Capital, have submitted offers to Reliance Capital for buying a small stake in its mutual fund business -- Reliance Capital Asset Management.
The younger Ambani sibling had a two-hour meeting with K V Kamath, chief of ICICI Bank and a friend of the family, who is said to be working out a formula to end the feud at the behest of Kokilaben Ambani.
