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.
This is the first Budget in my memory of Budgets over the last half a century which has embraced upfront, enthusiastically and emphatically, technology, modernity and fiscal sobriety, notes Shreekant Sambrani.
About 55 banks participated in the deal, making it the largest bank group for a syndicated loan in Asia so far this year.
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.
IPOs have been the flavour of the season for some time. But the coming together of three mega IPOs, from diverse businesses and historic relevance, could tell a story that's still in the making, points out Nivedita Mookerji.
Reliance Industries (RIL) annual general meeting (AGM) had several stunning announcements. RIL looks to list Jio Platforms (JPL) by June 2026. It targets doubling of FY22 earnings before interest, taxes, depreciation and amortisation (Ebitda) (Rs 1.25 trillion; $14.6 billion) by FY27 implying 14.7 per cent compound annual growth rate (CAGR) over the FY22 levels.
The board of Reliance Industries Ltd on Thursday approved issuing 1:1 bonus shares -- the first bonus issue in seven years. Reliance, the nation's most valuable company, had last issued bonus shares in September 2017.
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.
Reliance has filed patents not only in India but also in the US, Canada, Europe, Estonia, South Korea, and South America. The patents include narrowband Internet of Things, AI large language models, AI DeepLearning, Big Data, devices, and quantum AI in 6G.
The 15th India-Vietnam Defence Dialogue signalled a move from routine talks to deeper cooperation, with new deals on submarine rescue and defence industry to support stability in the Indo-Pacific, notes Dr Rajaram Panda.
Majority of AIFF EC members to choose between national body posts and state unit office
Reliance Industries (RIL), India's largest conglomerate, is set to pivot into a deeptech and advanced manufacturing enterprise, chairman and managing director (CMD) Mukesh Ambani said. "In artificial intelligence, our purpose is clear: to address complex societal challenges and create wealth for the nation and its people.
Ask rediffGURU and PF, MF and insurance expert Purshotam Lal your mutual fund, insurance and personal finance-related questions.
Billionaire Mukesh Ambani on Thursday unveiled the next phase of growth at Reliance Industries Ltd, with retail and telecom worth over $100 billion each, doubling revenues and pre-tax profit in 3-4 years, new energy business becoming profitable by 2031, and core oil and chemical business continuing to be the robust growth engine. The sprawling conglomerate with interests in refining, oil and gas, petrochemicals, telecom, retail, and media is on track to more than double in size before the end of the decade, Ambani, chairman and managing director of Reliance, told company shareholders.
Reliance Jio, India's biggest telecom operator, is planning to launch an initial public offering (IPO) and listing on bourses in the first half of 2026, billionaire Mukesh Ambani said on Friday. Jio is currently a unit of Reliance Industries Ltd, India's most valuable company.
Some of India's largest conglomerates are gearing up to either commission or commercially start the first phase of their new energy projects this year, according to company executives and analysts.
Proxy advisory firm IiAS has recommended that institutional investors should vote against the appointment of Anant Ambani on Reliance Industries Ltd's (RIL's) board, citing his age as the reason. The firm has, however, given its green light to the appointment of Anant's elder siblings - Akash and Isha. In its recommendation note, IiAS said, "At 28 years of age, his appointment as a non-executive, non-independent director does not align with our voting guidelines."
Indian petrochemicals giant Reliance Industries plans to raise its annual petrochemicals capacity by two million tonnes over the next three to five years, its chairman Mukesh Ambani told shareholders at the annual general meeting.
In a regulatory filing, Reliance -- the country's most valuable company - said, 'The 43rd AGM will be held on Wednesday, July 15, 2020 at 2 pm though video conferencing / other audio-visual means.'
This is the Mukesh Ambani-led company's second entry into the dairy segment and it will directly compete with Amul and Mother Dairy.
'The whole narrative will change from TV is dying to TV-plus-digital is the future.'
This is the second investment by General Atlantic in a subsidiary of Reliance Industries, following a Rs 6,598.38 crore investment in Jio Platforms announced earlier this year.
Reliance Life to tie up with banks to distribute products
The RBI on Thursday filed an application for initiation of Corporate Insolvency Resolution Process (CIRP) against debt-ridden Reliance Capital at the Mumbai bench of the National Company Law Tribunal. The Reserve Bank had on November 29 superseded the board of Anil Ambani-promoted Reliance Capital Ltd (RCL) in view of payment defaults and serious governance issues. The central bank had also appointed Nageswar Rao Y (former executive director, Bank of Maharashtra) as the administrator of the company.
The RBI said the board has been superseded "in view of the defaults by RCL in meeting the various payment obligations to its creditors and serious governance concerns which the Board has not been able to address effectively". It has also appointed Nageswar Rao Y (ex-executive director, Bank of Maharashtra) as the administrator of the NBFC.
Mukesh Ambani-controlled Reliance Industries Ltd will hold its annual general meeting on August 3, in which the company's plans following the settlement of ownership of Reliance empire may come up for discussion.
Shareholders of industry giants Adani Enterprises, Reliance Industries, and Tata Motors - the latter two are part of the Sensex - will decide on combined related-party transactions of more than Rs 2.68 trillion proposed for this financial year and later. Related-party transactions for BSE 500 companies touched at least a six-year high of Rs 42.1 trillion in FY23, the Capitaline data shows. The Rs 42.1 trillion includes related-party transactions both at balance-sheet and profit-and-loss levels.
The home-grown retail player will strengthen its Reliance Market chain to take its turnover to Rs 50,000 crore (Rs 500 billion) in two-three years.
It was more more entertaining that Comedy Nights with Kapil
After three cheetahs died in just over a month last year in Madhya Pradesh's Kuno National Park, the National Tiger Conservation Authority in May 2023 called in experts from Reliance's wildlife facility in Gujarat to review health monitoring protocols, official records show.
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.
Reliance Industries' annual general meeting on Friday will be unique in many ways. It's the first AGM after the Supreme Court judgment on K-G gas, the first after the truce between Mukesh and Anil Ambani and the first after the company's big-bang return to telecom.
The country's largest retailer Reliance Industries on Monday announced that it will enter the fast-moving consumer goods (FMCG) business this year as part of its expansion plan. Addressing the 45th AGM of Reliance Industries on Monday, Reliance Retail Ventures Ltd (RRVL) Director Isha Ambani said: "This year, we will launch our FMCG goods business". The objective of this business will be to develop and deliver products and solve every Indian's daily needs, with high-quality products at affordable pricing, she said while addressing Reliance Industries' annual general meeting.
Reliance Industry plans to make an all-out bid for securing the contract for a 3,00,000 barrels per day refinery project in Iraq, sources said.
Consolidated earnings for oil-to-telecom conglomerate Reliance Industries (RIL) may report sequential weakness, and modest year-on-year (Y-o-Y) growth in the June 2024 quarter (Q1FY25), said analysts. Lower refining margins are expected to moderate gains made from other businesses. RIL is slated to report its financial performance for Q1FY25 on July 19.
While Ambani, 66, drew nil salary from the company since the 2020-21 fiscal year, other executive directors including his cousins Nikhil and Hital are paid a salary, perquisites, allowances and commission. His three children - twins Akash and Isha (both 31) and Anant (28 years) - will get only a sitting fee and a commission on the profit earned by the firm.
Jio Financial Services Limited, the demerged financial services unit of Reliance Industries, will be excluded from various indices of NSE, including the benchmark Nifty 50, from September 7. Shares of Jio Financial got listed on the stock exchanges on August 21, after its spin-off from parent Reliance Industries. In accordance with the index methodology, as JIOFIN has not hit price band on two consecutive trading days on September 4 and 5 at NSE, the Index Maintenance Sub Committee (Equity) of NSE Indices Ltd has decided to exclude JIOFIN from various indices effective from September 7, 2023 (close of September 6, 2023), as per a statement by NSE Indices Ltd on Tuesday.
Announcing a bullish stance on the company's financial position, the chairman and managing director said that RIL would become debt-free on a net basis in the current 2011-12 fiscal.
Meta Platforms Inc, the parent company of WhatsApp, will partner with Reliance JioMart for a service where WhatsApp users can buy groceries on the messaging platform from the Indian retail firm. Mark Zuckerberg, chief executive officer (CEO) of Meta Platforms, said in a Facebook post, "[I am] Excited to launch our partnership with JioMart in India. "This is our first-ever end-to-end shopping experience on WhatsApp--people can now buy groceries from JioMart right in a chat." "Business messaging is an area with real momentum and chat-based experiences like this will be the go-to way people and businesses communicate in the years to come," he said in an announcement coinciding with the annual general Meeting (AGM) of Reliance Industries the parent company of JioMart.
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