Mukesh Ambani News

Subscribe to enjoy similar stories.Ahead of its initial public offering (IPO), Jio Platforms Limited has appointed Akash M. Ambani as its managing director for five years, effective 9 April, according to disclosures seen by Mint.The leadership reshuffle comes as the company prepares to file its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) to seek approval for listing.“...subject to the approval of the members of the company, Mr Akash M.

Dhirubhai Ambani built one of India’s greatest business empires but died in 2002 without a clear succession plan. What followed is now business folklore. His elder son, Mukesh Ambani, turned his part of the inheritance into a global enterprise worth over $117 billion.

Billionaire Mukesh Ambani-controlled Jio Platforms Ltd is targeting a valuation of $120 billion to $140 billion in its public offer, which will see some of its existing investors, including TPG, KKR, General Atlantic, and Silver Lake, sell shares, according to two bankers familiar with discussions.Parent Reliance Industries Ltd is not expected to offload any shares, and the company is also not looking to issue new stock to raise capital, as it will be a standalone offer for sale by some of its shareholders, said the bankers, who didn’t want to be identified as discussions were private.Jio Platforms executives met with representatives of 17-19 investment banks this week before filing its draft papers with the regulator for the initial public offering (IPO).“Some of the selling shareholders were also part of this meeting,” said one of the senior bankers present. The meeting was held to outline the role of individual bankers in the book-building process, said another.A General Atlantic spokesperson and TPG declined to comment.

Reliance Jio was waiting for the government's nod for 2.5% public shareholding norms, and will now move ahead with its plans to tap the capital markets.Last week, the finance ministry allowed large companies above a certain market cap to list with just 2.5% stake sale through public offers, as against the minimum 25% requirement earlier.The rules allow companies with a post-issue valuation of above ₹5 trillion ($54 billion) to dilute a minimum of 2.5% equity, a drop from the previous 5% limit. The easing will also help companies such as the National Stock Exchange (NSE) to successfully list on Indian exchanges, Mint reported earlier.Mint also reported this month that India has emerged as the second-largest IPO market globally by proceeds and the most active by number of deals in 2024, with companies raising about ₹1.6 trillion across more than 300 listings.

Subscribe to enjoy similar stories. NEW DELHI : India has put forward a framework for how the country's artificial intelligence startups and the world’s frontier labs should build and deploy inclusive AI.

Subscribe to enjoy similar stories. Mumbai: Billionaire Mukesh Ambani-led Reliance Industries is on the cusp of unlocking significant value for shareholders as all its key businesses generate free cash flows simultaneously for the first time and a public listing of its telecommunications business is imminent. Now, investors want firm timelines.

Adani Group stocks have been on a strong upward run, adding nearly Rs 40,000 crore in market capitalization over the past 15 days. Except for Adani Enterprises, all group stocks ended higher on Thursday, coinciding with a significant boost for the company as Chairman Gautam Adani emerged as the top Indian wealth gainer in the Hurun World Rich List. Adani, whose wealth surged by around Rs 1 lakh crore, still lagged Mukesh Ambani, who claimed the title of Asia's wealthiest. However, Ambani dropped out of the world's top 10 wealthiest list, following a hit to his fortunes due to the poor performance of RIL. Gautam Adani's fortune grew by 13% in 2024, enabling him to rank among the top three in India.

State Bank of India raised $1 billion in the largest dollar-denominated syndicated loan this year from the nation, giving a boost to the lagging foreign-currency debt market. The borrower opted not to exercise a greenshoe option to increase the five-year facility by as much as $250 million, said people familiar with the matter, who asked not to be identified discussing private information.

RPG Group chairman Harsh Goenka recently shared a post on microblogging platform X (formerly Twitter) featuring Reliance Industries Chairman Mukesh Ambani’s perspective on success. The post included a video of Ambani quoting a message from Swami Vivekananda, stressing the importance of focusing on a single idea.

Starlink has partnered with Jio Platforms (JPL) to bring high-speed satellite internet services to customers in India, a day after a similar pact with Bharti Airtel. The tie-ups underscore a surprise turnaround in the stance of India's top two telecom operators, led by billionaires Mukesh Ambani and Sunil Mittal, which had been at odds with the world's leading low-earth orbit satellite constellation operator over spectrum allocation and pricing for the domestic market. Market watchers termed the deals as a win-win for all parties. While Starlink gets a foothold in the world's second-largest telecom market without paying top dollars to buy spectrum in an auction, both telcos get access to more cutting-edge technology while avoiding a bloody battle with a moneyed US giant. Indian consumers will be able to experience the latest technology at potentially affordable rates.

Ashwini Vaishnaw welcomed Elon Musk's Starlink on Wednesday, highlighting its potential to benefit railway projects in remote areas. «Starlink, welcome to India! Will be useful for remote area railway projects,» said Vaishnaw in a statement on X. Billionaire Mukesh Ambani's Jio Platforms has struck a deal with SpaceX, the aerospace company led by Musk, to bring Starlink's broadband internet services to India, a surprise move that follows months of bickering over how Musk's venture should be granted spectrum rights. The deal with Musk — considered the right-hand-man of US President Donald Trump — came a day after telecom tycoon Sunil Bharti Mittal's Bharti Airtel signed a similar partnership deal with SpaceX.

40th wedding anniversary of Nita Ambani and Mukesh Ambani, a couple whose journey together has been nothing short of remarkable. The two exchanged vows on March 8, 1985, and over the decades, they have risen to prominence as key figures in India’s corporate landscape and philanthropic endeavors. As they celebrate this significant milestone, a nostalgic video from the pre-wedding festivities of their son, Anant Ambani, and his fiancée, Radhika Merchant, has been gaining immense popularity across social media platforms. The opulent pre-wedding celebrations of Anant and Radhika took place in Jamnagar, Gujarat, and were nothing short of a grand spectacle. With a dazzling array of performances by renowned artists, the event was attended by luminaries from various industries. However, one particular moment stood out and touched the hearts of many. A heartwarming clip surfaced online, showcasing Mukesh and Nita Ambani gracefully moving to the rhythm of the beloved Bollywood classic, «Pyar Hua Ikrar Hua Hai,» from the timeless film Shri 420. Clad in traditional ensembles—Mukesh donned a classic kurta-pyjama, while Nita exuded grace in a beautifully draped saree—their elegant performance exuded warmth, love, and a sense of nostalgia. The audience, enchanted by the moment, eagerly captured it on their smartphones, further adding to the joyful energy of the grand celebration.

optical fibre from the Bay of Bengal through the River Brahmaputra. Chief Minister Himanta Biswa Sarma said that in the era of digital transmission, connectivity is the lifeline of progress, and Assam is steadfast in leading this revolution to achieve the fast-paced growth of the state. Sharing his vision at a thematic session titled «I-Way to Viksit Assam» as part of the Advantage Assam 2.0 Summit here in Guwahati, in the presence of Union Minister for Communications and Development of North Eastern Region Jyotiraditya M. Scindia, Sarma stated that Assam is fully ready to be a strong stakeholder in the digital revolution with the active support of the Government of India.

Disney, Indian billionaire Mukesh Ambani is targeting small businesses and promoting unconventional neuroscience studies to boost its revenues from the IPL, the world's most valuable cricket league.

Mark Zuckerberg appearing to gaze at Jeff Bezos’ fiancée, Lauren Sanchez, has ignited a wave of amusement on social media. Captured at Donald Trump’s inauguration at the U.S. Capitol on January 20, the poorly timed image quickly became a focal point of online chatter.

Reliance Industries chairman Mukesh Ambani and the Reliance Foundation founder and chairperson Nita Ambani will attend President-elect Donald Trump's inauguration on Monday, according to an official involved with planning the event.

₹1.76 lakh crore. Stay tuned to our Jio Financial Services Q3 Results Live blog for the latest updates.Jio Financial Services Q3 Results Live: The meeting of the Board of Directors of the Company is scheduled to be held on Friday, January 17, 2025, to consider and approve the standalone and consolidated unaudited financial results of the Company for the quarter and nine months ended December 31, 2024.Jio Financial Services Q3 Results Live: Jio Financial Services, the billionaire Mukesh Ambani-owned non-banking finance company (NBFC), will announce its Q3 results today.

Reliance Industries' telecom and digital businesses, posted a 26% on-year rise in net profit in the fiscal third quarter, on the back of the tariff hikes of July 2024, subscriber additions and strong data usage growth. The rate hikes partly helped Jio grow average revenue per user(ARPU) 4.2% on-quarter to ₹203.3. But the full beneficial impact of the price hikes will be staggered, and likely to come through Q4FY25 and Q1FY26, since Jio has a higher share of subscribers on longer-validity plans compared to Bharti Airtel or Vodafone Idea, said analysts.

Reliance Industries Ltd (RIL) reported an 11.9% rise in consolidated net profit in December quarter, driven by its energy, retail and digital services units, beating analyst estimates. Consolidated profit after tax rose to ₹21,804 crore from ₹19,488 crore in the year earlier. Net profit attributable to owners of the company was up 7% to ₹18,540 crore from ₹17,265 crore a year earlier. A Bloomberg survey of analysts had pegged profit at about ₹18,326 crore. Revenue from operations increased 7% to ₹2.43 lakh crore from ₹2.27 lakh crore in the year earlier. Consolidated ebitda increased by 7.8% to ₹48,003 crore. «It gives me great pleasure to see Reliance grow exponentially over the years and set new benchmarks that demonstrate the inherent strength and resilience we have across all our businesses,» said Mukesh Ambani, chairman and MD of RIL. «The delivery of record ebitda and profit after tax at a consolidated level for this quarter is a testament to this.»

In the presence of a huge crowd that gathered to commemorate 25 glorious years of the Jamnagar refinery, Nita Ambani gave a heartfelt speech about how Jamnagar is close to their hearts. Ambani also expressed her deep gratitude to Kokilaben Ambani, the matriarch of the family, for her blessings and support, which have fueled Reliance's journey of growth and success. Her heartfelt words resonated with the audience, many of whom have been part of the Jamnagar Refinery’s transformative journey over the years. “Jamnagar is not just a place, but the soul of Reliance. It holds a very special place in our hearts. For Kokila mummy, it’s her Janmabhoomi, representing her roots and values,” she said.

Nita Ambani, founder and chairperson of the Reliance Foundation, spoke passionately about the deep emotional connection the Ambani family shares with Jamnagar, describing it as the «soul of Reliance.»