Mukesh Ambani News

Reliance Industries have approved appointment of Chairman Mukesh Ambani's son Anant Ambani, along with his elder siblings Akash and Isha, as non-executive directors on the company board. At 28 years of age, Anant, three years younger than his two siblings, was seen as too young for the role. Institutional Shareholder Services Inc., an international proxy advisory firm, and Mumbai-based Institutional Investor Advisory Services had recommended that shareholders vote against the proposal of Anant Ambani's appointment on the board. Reliance had told the proxy companies that Anant has “the relevant experience and maturity to add value to the board deliberations” given his participation in the conglomerate’s businesses and the grooming he has received from senior leadership over the years.

Reliance Industries have approved the appointment of Isha Ambani, Akash Ambani and Anant Ambani as Non-Executive Directors of the company, it said in a stock exchange filing on Friday. Chairman Mukesh Ambani at the company's 46th Annual General Meeting had said that his three children — sons Akash and Anant and daughter Isha — are «confidently taking over the reins» across businesses, in his first public pronouncement on succession planning in India's most valuable private sector company.

Reliance Industries share price traded over a percent higher on Friday ahead of the announcement of financial results for the quarter ended September 2023. RIL shares opened higher at ₹2,242 apiece as against previous close of ₹2,226.20 on the BSE. RIL stock gained 1.83% to an intraday high of ₹2267.10 in Friday early trade.

Reliance Industries Chairman Mukesh Ambani and his son Anant Ambani on Tuesday offered prayers at Dwarkadhish temple Temple in Devbhumi Dwarka district of Gujarat. The Ambani family often visits religious places in India.

Reliance Industries, controlled by Asia’s richest tycoon Mukesh Ambani, is nearing a cash and stock deal to buy Walt Disney’s India operations, according to people familiar with the matter. The US entertainment giant may sell a controlling stake in the Disney Star business, which it values at around $10 billion, as opposed to piecemeal transactions weighed earlier, the people said, asking not to be named because the discussions are private. Reliance views the assets at between $7 billion to $8 billion, some of the people said.

HSBC Holdings Plc has nearly doubled the size of a loan arrangement to part of Indian billionaire Mukesh Ambani’s business empire, bolstering its bet on Asia’s richest person. The London-based bank originally provided a £60 million ($73 million) loan facility to a subsidiary of Reliance Industries Ltd. shortly after it acquired the Stoke Park estate in southeast England for £57 million in 2021, according to UK registry filings.

₹20.03 crore, compared to ₹30.24 crore in the year-ago period. The company's revenue from operations in the second quarter of current fiscal stood at ₹483.79 crore, registering a rise 2.23 per cent, compared to ₹473.22 crore in the year-ago period. Hathway Cable's revenue from the broadband business came in at ₹156.46 crore, while it earned ₹327.33 crore from the cable television business, according to a regulatory filing by the company to the stock exchanges.

Jio Financial Services (JFS) plans to launch auto, home loans and other products, as the billionaire Mukesh Ambani-backed company seeks to establish itself as a full-service financial services firm in a rapidly growing market. Despite strong growth, penetration of financial investment products in India is low relative to the size of the economy. Ambani is looking to tap into this market after similar disruptive forays into the telecom and retail sectors. JFS has already launched personal loans for salaried and self-employed individuals in the financial capital of Mumbai and consumer durable loans across 300 stores in India, it said in a presentation to analysts late on Monday, offering a first glimpse into operational details that had largely been vague at the time of its listing in August. It will now also launch business and merchant loans for self-employed individuals, it said. The company's insurance broking arm has also partnered with 24 insurance companies, while its payments bank division, which relaunched savings account and bill payment services, plans to launch debit cards.

₹19,133.7 crore. A farmer's son and a college dropout, KP Ramasamy achieved success by establishing one of India's largest garment export enterprises. Founded in 1984, KPR Mill's business by was expanded Ramasamy in 2013 and diversified into sugar production.

private jet flights-four times the usual traffic-will ferry some of India's wealthiest people to and from Ahmedabad, as per data from the city airport. Reason: the much-awaited India-Pakistan match of the ICC World Cup to be held at the Narendra Modi stadium, the world's largest cricket ground, on Saturday. The 48-match tournament runs till November 19. The Ahmedabad airport has run out of parking slots for private jets, said a person in the know. It's giving conditional approval to some of these jets and asking the rest to park at other airports such as Surat and Mumbai. «The last time we saw such massive demand for private jets was during Isha Ambani's wedding,» said Kanika Tekriwal, founder of JetSetGo, a charter operator and aggregator, referring to the opulent wedding of India's richest man Mukesh Ambani's daughter.

Reliance Industries Ltd.’s financial services unit and Zerodha Broking Ltd. can only disrupt distribution of mutual funds, not pricing or product offerings, according to Edelweiss Asset Management. “Distribution is where they can make an impact,” said, Radhika Gupta, chief executive officer and managing director of Edelweiss AM, at a Bloomberg New Voices event in Mumbai.

With Adani Group Chairman Gautam Adani still reeli... moreWith Adani Group Chairman Gautam Adani still reeling under Hindenburg’s onslaught, Mukesh Ambani has taken the poll position in the list of the richest Indians.

Mukesh Ambani, chairman of Reliance Industries, has reclaimed the top spot as the richest Indian after a year, as per the '360 One Wealth Hurun India Rich List 2023'. Ambani was ranked at the top with a wealth of ₹8,08,800 crore with 2% appreciation over the previous year. Industrialist Gautam Adani, despite a 57% erosion in wealth, was ranked second in the list with a wealth of ₹4,74,800 crore.

₹1,000 crore each as of 31 August 2023, according to an annual list published by Hurun India on Tuesday. These entrepreneurs comprised 66% of the 1,319 such super-rich individuals in the country, up from54% five years ago. The list saw 278 new entrants, a sharp recovery from the drop seen last year owing to volatility in financial markets.

Reliance Industries Chairman Mukesh Ambani overtook Adani Group's Gautam Adani to become the richest Indian, Hurun India Rich List 2023 released on Tuesday showed. Adani in 2022 was ahead of Ambani by Rs 3 lakh crore. However, Ambani bridged the gap and trumped it in 2023 as his wealth was higher by Rs 3.3 lakh crore.

Walt Disney Co. is holding preliminary discussions with potential buyers for its India streaming and television business including billionaires Gautam Adani and Kalanithi Maran, according to people familiar with the matter. The US entertainment giant’s senior executives have also gauged the interest of private equity funds considering the company is exploring a range of options, which could involve selling part of the Indian operations or a combination of the unit’s assets including sports rights and regional streaming service Disney+ Hotstar, the people said, asking not to be identified because the discussions are private. Asset-sale talks have already been held with Reliance Industries Ltd., controlled by Asia’s richest person, Mukesh Ambani, Bloomberg News reported earlier on. Disney has been weighing strategic options for its business in India including an outright sale or setting up a joint venture, Bloomberg News reported in July after the unit lost its streaming rights to the Indian Premier League cricket tournament to Viacom18 Media Pvt.

Click here! New York-based KKR joins peers like Apollo Global Management Inc. and Citadel Securities in expanding in India to support their global businesses.

Also read: ADIA may infuse $600 million in Reliance Retail: Report The UK retailer is grappling with weak orders from wholesale partners. The company is also facing funding challenges. The UK-based retailer said it expects gross cash proceeds of 30.4 million pounds.

Reliance Retail Ventures Ltd, the retail arm of Reliance Industries, has received the full subscription amount of Rs 2,069.50 crore from the global investment firm KKR and has allotted 1.71 crore equity shares. Following the share allotment, KKR's shareholding in Reliance Retail Ventures Ltd (RRVL) has increased to 1.42 per cent, from 1.17 per cent. «Reliance Retail Ventures Ltd today received the subscription amount of Rs 2,069.50 crore from Alyssum Asia Holdings II Pte.

digital payment providers within its app in India, the latest bet by the Meta Platforms Inc.-owned service to boost commerce offerings in its biggest market. WhatsApp has more than 500 million users in India, though regulators there have capped its in-app WhatsApp Pay service to only 100 million people.

Jio AirFiber – could create a whopping $4 billion to $9 billion annual revenue opportunity if it sees wide acceptance of around 50-to-100 million homes, say analysts. They added that the current pricing of Jio AirFiber is not disruptive versus competition as rival Bharti Airtel’s comparable 100 Mbps 5G-FWA offering is at a 12% discount, albeit without digital channels and OTT apps. While Airtel’s FWA service is at a 33% premium to Jio AirFiber’s base plan of Rs 599 a month, it offers faster speeds of 100 Mbps compared to 30 Mbps on Jio’s. “Jio has ambitious plans with Jio AirFiber, with a target of 200 million homes…if there is wide acceptance of 5G FWA with bundled home entertainment services, it could be a significant revenue opportunity, especially as (home) broadband average revenue per user (ARPU) at Rs 600, is 3-4x higher vs mobile,” brokerage CLSA said in a note. A 5G-based FWA service uses airwaves instead of cables/fibre to provide fixed broadband access, using a next-gen mobile broadband technology.