Latest news with #RelianceCommunications
India.com
10 hours ago
- Business
- India.com
Anil Ambani was once 6th richest person in world, far richer than Mukesh Ambani, but lost everything due to…
Anil Ambani and Mukesh Ambani (File) When the wealth was divided between Mukesh Ambani and Anil Ambani, the latter received big companies like Reliance Communications (RCom), Reliance Capital, Reliance Energy, and Reliance Natural Resources. This distribution gave Anil Ambani global presence and he became even wealthier than his brother Mukesh Ambani at the time. Out of his companies Reliance Power gave him so much wealth. At one point, with a net worth of $42 billion (around Rs 3.5 lakh crore), he became the 6th richest person in the world, surpassing his elder brother Mukesh Ambani. In 2002, the combined wealth of both brothers stood at only $2.8 billion. This grew to $6 billion in 2004 and later to $7 billion in 2005. What Went Wrong for Anil Ambani? Despite this success, Anil Ambani's companies started struggling due to poor investment decisions and changing market conditions. It also faced intense competition. Especially, Reliance Communications (RCom) suffered massive losses in the telecom sector. The Debt Trap: Anil Ambani's companies relied on debt, which became unmanageable over time. In February 2020, he declared bankruptcy in a UK court and claimed that he no longer has major assets. Reliance Capital's Crisis: Another major company of Anil Ambani, Reliance Capital, is being sold to repay creditors. IndusInd International Holdings Ltd (IIHL) from the Hinduja Group was the top bidder for the same. IIHL has received approval to increase its stake in the bank from 15% to 26%. The deal will be finalized once clearance is obtained from IRDAI. Anil Ambani Current Net Worth As of March 10, 2025, reports estimate Anil Ambani's net worth at just $530 million (around Rs 4,400 crore) which is far less if compared to the wealth during the time of dispute. His brother Mukesh Ambani's total wealth is currently valued at Rs 9.10 lakh crore.
India.com
5 days ago
- Business
- India.com
Anil Ambani was once richer than Mukesh Ambani! in world's top 10 richest persons list, now how much wealth left with him?
After several setbacks now Anil Ambani is trying to revive his business with the help of his two sons Jay Anshul Ambani and Jay Anmol Ambani. He is also trying to come out of massive debts after some of his company has become debt free. However he was not in a struggling situation since the start of his career. When the wealth of Mukesh and Anil Ambani was divided, Anil Ambani got companies like Reliance Communications (RCom), Reliance Capital, Reliance Energy, and Reliance Natural Resources. During this time his net worth was higher than his elder brother, Mukesh Ambani. After the listing of Reliance Power, his net worth increased very much. During peak time his net worth was $42 billion (around Rs 3.5 lakh crore). He was the world's 6th richest person, ahead of Mukesh Ambani at that time. In 2002, the combined wealth of the two brothers was $2.8 billion, which grew to $6 billion in 2004 and $7 billion in 2005. What Went Wrong for Anil Ambani? After this success, Anil Ambani's companies faced setbacks due to poor investment decisions, market shifts, and intense competition. Reliance Communications (RCom) suffered heavy losses in the telecom sector. Anil Ambani's businesses were dependent on heavy debts, which went out of control over time. By February 2020, Anil Ambani declared bankruptcy in a UK court, claiming he no longer had any major assets. Anil Ambani, Mukesh Ambani Current Net Worth According to March 10, 2025 media reports, Anil Ambani's net worth at just $530 million (Around Rs 4,400 crore), far less than his earlier wealth. Whereas, Mukesh Ambani's net worth is currently around Rs 9.10 lakh crore. One of Anil Ambani's companies, Reliance Capital, is being sold off to repay creditors. The Hindujas' IndusInd International Holdings Ltd (IIHL) was the highest bidder. IIHL has received approval to increase its stake in the bank from 15% to 26%, and the deal is expected to conclude once it receives clearance from IRDAI.
India.com
05-06-2025
- Business
- India.com
Anil Ambani's incredible business journey, from richer than Mukesh Ambani to getting bankrupt to staging a superb comeback, read full story here
Anil Ambani (File) Anil Ambani, the younger son of legendary industrialist Dhirubhai Ambani and brother to India's richest man Mukesh Ambani, has long been a familiar name in India's corporate world. Known not just for his business ventures but also for his presence in the worlds of politics and entertainment, Anil has lived a life full of dramatic ups and downs. He is married to former Bollywood star Tina Munim, and the couple is blessed with two sons: Jai Anmol and Jai Anshul Ambani. Once counted among the richest individuals on the planet, even ranked as the sixth wealthiest at one point, Anil's financial journey took a dramatic turn when he declared himself bankrupt. What caused rift between the Ambani brothers? The friction between Anil and Mukesh Ambani began after the death of their father, Dhirubhai Ambani, in 2002. Since Dhirubhai did not leave behind a formal succession plan or a will, the question of who would control what part of the Reliance empire led to conflict. The brothers had different visions for the future of the business, Mukesh aimed to expand into the telecom sector, while Anil was more focused on strengthening the power and energy segment. These differing goals became a source of ongoing tension between them. How Kokilaben Ambani split the Reliance empire between her sons As tensions between Mukesh and Anil Ambani escalated over control of the Reliance empire after their father Dhirubhai Ambani's death. However, their mother, Kokilaben Ambani, stepped in to resolve the matter and in 2005, she brokered a peaceful division of the business between her two sons. Mukesh Ambani was given control of Reliance Industries and IPCL (Indian Petrochemicals Corporation Limited), forming what is now known as Reliance Industries Limited (RIL). His domain included key sectors such as crude oil refining, petrochemicals, and oil and gas exploration. Anil Ambani, on the other hand, received Reliance Communications, Reliance Capital, and Reliance Power. These companies formed the Anil Dhirubhai Ambani Group (ADAG). And at the time, these businesses were seen as high-potential ventures with significant growth prospects in sectors like telecom, finance, and energy. Anil Ambani's rise in the business world Soon after the division, Anil Ambani launched several large-scale projects and secured major funding from banks. One of his most successful moves was the rollout of Reliance Communications, which soon became India's largest telecom operator. He also laid the foundation for Reliance Power, aiming to transform India's energy sector. Within just two years of the split, his total business valuation crossed Rs. 4 lakh crore. By 2008, his personal net worth skyrocketed from USD 18 billion to USD 42 billion, earning him the title of the sixth richest person in the world. Anil Ambani's fall from fortune and bankruptcy Anil Ambani's dramatic fall from being one of the richest men in the world was fueled by several major setbacks, the biggest being his mounting debt. His primary source of income, Reliance Communications, began to falter when it failed to adapt to newer technology. As telecom rivals introduced 4G services, customers started shifting to companies like Vodafone and Airtel, leaving Reliance Communications far behind. By 2015, most of Anil's companies were nearing collapse, and his group, the Anil Dhirubhai Ambani Group (ADAG), had piled up a massive debt of Rs. 1.25 lakh crore. Despite financial troubles, Anil made bold investments like acquiring Pipavav Defense for Rs. 2,000 crore and renaming it Reliance Defense. But the project couldn't be completed on time and was eventually shut down. The situation worsened with the launch of Mukesh Ambani's Jio, which revolutionized the Indian telecom market by offering free data and calls. Reliance Communications' market share plummeted to just 2 per cent. At one point, the Supreme Court ordered Anil to repay Rs. 453 crore to Swedish telecom firm Ericsson or face a three-month jail sentence. His brother Mukesh stepped in to pay the amount, rescuing him from imprisonment. With banks unwilling to lend him more money and his businesses drowning in losses, Anil filed for bankruptcy in 2020. How Anmol Ambani stepped up to support his father While Anmol Ambani didn't directly repay any of his father's debts, he played a crucial role in trying to bring life back to the Reliance Group. After taking charge of operations, he worked on boosting investor confidence, leading to a 40 per cent rise in the company's share prices. Anmol successfully persuaded Japanese financial giant Nippon to increase their investment in Reliance's businesses. He also established new verticals like Reliance Life Insurance and Reliance Capital Asset Management, helping the group regain some momentum. His sharp business decisions marked the beginning of a slow but steady recovery. Anil Ambani's Comeback Story Today, Anil Ambani is once again making headlines, this time for his business revival. With support from his sons, he is working to rebuild the Reliance Group. Companies like Reliance Power and Reliance Infrastructure are now entirely debt-free and generating profits again. As part of his renewed vision, Anil is now focusing on future-centric industries such as green energy and defense manufacturing both in alignment with the Indian government's Viksit Bharat 2047 plan. Recently, shares of Reliance Infrastructure surged by 9.64 per cent, hitting a one-year high of Rs. 374.90.
Business Standard
28-05-2025
- Business
- Business Standard
Reliance Communications reports consolidated net loss of Rs 2502.00 crore in the March 2025 quarter
Sales decline 5.43% to Rs 87.00 crore Net Loss of Reliance Communications reported to Rs 2502.00 crore in the quarter ended March 2025 as against net loss of Rs 2127.00 crore during the previous quarter ended March 2024. Sales declined 5.43% to Rs 87.00 crore in the quarter ended March 2025 as against Rs 92.00 crore during the previous quarter ended March 2024. For the full year,net loss reported to Rs 9389.00 crore in the year ended March 2025 as against net loss of Rs 7212.00 crore during the previous year ended March 2024. Sales declined 6.53% to Rs 358.00 crore in the year ended March 2025 as against Rs 383.00 crore during the previous year ended March 2024. Particulars Quarter Ended Year Ended Mar. 2025 Mar. 2024 % Var. Mar. 2025 Mar. 2024 % Var. Sales 87.0092.00 -5 358.00383.00 -7 OPM % 2.30-2.17 - -3.07-2.87 - PBDT 5.000 0 -24.0014.00 PL PBT -26.00-30.00 13 -141.00-113.00 -25 NP -2502.00-2127.00 -18 -9389.00-7212.00 -30
