Serious technology challenges await Reliance.
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.
Earlier, Ambani had announced that RIL's telecom arm Jio will strive to make India free of 2G by migrating from feature phones to an affordable smartphone.
Reliance Industries chairman Mukesh Ambani's plan to build a helipad atop his residence in south Mumbai has met with opposition from the MCGM which has asked him to stop the construction work, a senior official said. The Municipal Corporation of Greater Mumbai (MCGM) has also asked him pay Rs 2.43 lakh for proceeding with the construction wihtout having obtained requisite permissions.
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 two companies have approached banks to raise up to Rs 8,000 crore as debt to fund their expansion plans.
Undaunted by criticism by a Parliamentary panel, the government cleared 28 fresh special economic zone proposals on Thursday, including the Navi Mumbai promoted by Reliance Industries Chairman Mukesh Ambani.
Glimpses of cheetah cubs born in Vantara, an organisation founded by animal lover Anant Mukesh Ambani.
Mukesh Ambani, the new media mogul of country, has his strategy cut out. For the ETV bouquet of channels, the focus would be the general entertainment channels (GEC).
Nadar and his family donated Rs 826 crore, while Azim Premji gave Rs 453 crore and Ambani parted with Rs 402 crore, according to the Edelgive Hurun India Philanthropy List 2019.
Reliance holds 67.03% of Jio Platforms Limited and the public listing would provide an exit to many investors.
Mukesh Ambani, the country's richest man and chairman of Reliance Industries, is understood to have gifted his wife, Nita, a unique, customised, plush corporate jet, on her birthday which was on November 1.
Accompanied by a large entourage, including the kids, the couple reached Varanasi by a private plane in the afternoon.
Days after a CAG draft report said his firm got out of turn favours from the oil ministry and its technical arm DGH, Reliance Industries chairman Mukesh Ambani on Friday met Prime Minister Manmohan Singh.
Mukesh Ambani voluntarily capped his compensation at Rs 15 crore in October 2009 amid a debate over right-sizing of CEO salaries.
Reliance Industries will by 2030 create or enable capacity to generate at least 100 gigawatts of electricity from renewable sources, which can be converted into carbon-free green hydrogen, its chairman Mukesh Ambani said Friday as he outlined a 1-1-1 vision to bring down the cost of hydrogen to under $1 per 1 kg in 1 decade. The focus on generating electricity from renewable sources of energy such as solar and wind -will help cut carbon emissions in the world's third-largest greenhouse gas emitter. The same electricity, when converted into green hydrogen, can replace petrol and diesel in automobiles and other fuels in the industry, helping cut down on the use of fossil fuels, carbon emissions and reduce import dependence.
Billionaire industrialist Mukesh Ambani has turned a venture capitalist and is backing a new television channel Epic TV due to go on air next month.
Britain's Prince Edward and former prime minister Rishi Sunak were also at the game.
R C Bhargava, Kiran Mazumdar-Shaw & Dinesh K Sarraf are other members of the business delegation
Reliance Jio said certain tariff plans will continue to give subscribers free streaming access to IPL 2025.
At the same time, India's most valued corporate house also announced a new structure for salaries and remuneration of top executives wherein the pay packets would be capped, as against the prevailing system of commission linked to profits.
Reliance Industries Ltd's focus on the next hypergrowth opportunities in clean tech and its path to decarbonisation has the potential to spur re-rating, raises clarity on investment cycles and reduces investor worry, brokerages said. RIL chairman Mukesh Ambani at the company's 'Green AGM' on Thursday committed Rs 75,000 crore over the next three years to set up an integrated Green Energy Giga Complex across 5,000 acres in Jamnagar, Gujarat which will contain four giga factories. The complex, which would be one of the world's largest renewable manufacturing facilities, would have an integrated solar photovoltaic module factory, an energy storage battery factory, electrolyser manufacturing for hydrogen production, and manufacturing of fuel cells so that hydrogen can be used in transportation.
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.
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.
A viral video of Anant Ambani saving chickens from getting slaughtered is doing the rounds on the Internet.
Speaking at a fireside chat with Microsoft CEO Satya Nadella, he said the big change driving this transformation was the deepening of mobile networks which were working at a much faster pace than before.
Reliance Industries Ltd has withdrawn its trademark application for the term 'Operation Sindoor' -- the codename for India's military strikes in Pakistan -- stating that it was inadvertently filed by a junior employee without authorisation.
Umanath, who mentioned people like Mukesh Ambani and Kalanidhi Maran too, got stuck when he came to Amitabh. "Amitabh Bachchan has amassed more than Rs 190 crore," he said, adding sarcastically, "Yes, the same Amitabh you see in that advertisement for chocolate."
Forbes has listed a number of events that could happen over the next 10 years in the field of politics, energy, medicine, finance, society and technology.
The total wealth of India's top five billionaires, which stands at a whopping $83.7 billion, is more than the cost of 1,230 Mars Orbiter 'Mangalyaan' Missions and is more than 18 times the cost of hosting the 2016 Rio Olympics
"Heartfelt congratulations to our Men's Hockey Team on winning bronze at the Paris Olympics," Ambani said.
'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.'
The company had received a loan restructuring package from banks under the 5/25 scheme last year.
Next-generation security and disaster management business seems to be next on the radar of Mukesh Ambani-led Reliance Industries, which will utilise its 4G telecom services for this new initiative.
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.
Amabni to relinquish the position next month to join BofA's non-fiduciary global advisory council.
A unique 'wave of honour' swept through the venue as Nita and Mukesh Ambani joined the players and the audience, commemorating the team's incredible feat.
Billionaire Gautam Adani's younger son Jeet will wed next month in a simple and traditional ceremony, without any pomp and show and celebrity stars. Adani, on Mahakumbh pilgrimage with his family, scorched speculations of a star-studded wedding of his son Jeet with Diva Shah, daughter of Surat diamond merchant Jaimin Shah. "It will be a very simple, traditional marriage... just like common people," he told reporters in Prayagraj.
Reliance Industries chairman Mukesh Ambani on Thursday said Jio and Google have jointly developed a power-packed and affordable smartphone 'JioPhone Next', which will be available in the market from September 10. Ambani promised that JioPhone Next will be the most affordable smartphone not just in India but globally. Speaking at RIL's annual general meeting, Ambani asserted that an ultra-affordable 4G smartphone is essential to make India '2G-mukt' (free of 2G).
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
