Latest news with #RelianceGroup
India.com
a day ago
- Business
- India.com
Anil Ambani was once richer than Mukesh Ambani, the Reliance Group boss has a current net worth of Rs...
Anil Ambani was once richer than Mukesh Ambani. (File). Anil Ambani net worth: Anil Ambani does not have the same level of business success to his name as Mukesh Ambani. But did you know that the Anil Ambani– the younger son of Reliance founder Dhirubhai Ambani– was once richer than his illustrious older brother? Let us take a brief look at Anil Ambani's downfall, his recent revival, and his current net worth. What led to Anil Ambani's downfall? Anil Ambani became the owner of key Reliance companies after the infamous split between the two brothers that resulted in splitting the business established by their legendary father. Anil Ambani bagged Reliance Communications (RCom), Reliance Capital, Reliance Energy, and Reliance Natural Resources, while Mukesh Ambani received the group's oil, gas, petrochemicals, refining, and manufacturing businesses. While Anil Ambani-led companies saw a rapid, early success, this honeymoon period did not last long as fortunes began dwindling due a multitude of factors, such as bad investments, cut-throat competition, especially in the telecom sector, and rapidly changing market dynamics. Soon, Reliance Group became heavily indebted, resulting in Anil Ambani declaring bankruptcy while appearing online before a UK court in 2020. Anil Ambani was once wealthier than Mukesh Ambani As per Forbes, Mukesh Ambani is the richest man in Asia today, and the 17th wealthiest globally, with a net worth of $108.1 billion, but there was a time when Anil Ambani was richer than his older brother. During his peak, Anil Ambani was the sixth richest person on the planet with a net worth of $42 billion, wealthier than Mukesh Ambani. The massive jump in Anil Ambani's wealth came after successful listing of Reliance Power, one of the most profitable companies of his Reliance Group at the time. In 2002, the Ambani brothers had a combined net worth of $2.8 billion, which climbed to $6 billion in 2004, and then $7 billion in 2005, before they parted ways and split the family business. Anil Ambani net worth According to various media reports, Anil Ambani has a current net worth pegged at around $530 million, a gargantuan slide from his earlier days when he was among the richest in the world. Anil Ambani making a comeback Recently, the fortunes of Anil Ambani have begun to turn as the embattled businessman's sons– Jai Anmol Ambani and Jai Anshul Ambani– have helped clear debts of several Reliance Group companies, making them debt-free. Last year, Anil Ambani raised Rs 17,600 crore to further reduce the debt burden of his companies. According to media reports, only two listed companies of Anil Ambani's Reliance Group, Reliance Infra and Reliance Power, have managed to become completely debt-free, while most of group's other firms still owe substantial amounts to creditors. Both Reliance Infra and Reliance Power, along with their subsidiaries, started repaying loans in September last year, and are now debt-free, as per reports. Anil Ambani began investing funds into both these companies in August 2024, and funds were raised through Foreign Convertible Currency Bonds (FCCB) and Preferential Issue.
India.com
2 days ago
- Business
- India.com
Anil Ambani beats Mukesh Ambani as Reliance Infra becomes first Indian private company to develop..., eyes Rs 100000000000.....
Anil Ambani and Mukesh Ambani- File image In a significant development for India's defence industries, Reliance Infrastructure, under the leadership of Anil Ambani become the first Indian private sector company to design and develop four types of new generation 155mm artillery ammunition. Adding to the development, the Anil Ambani's company is also expecting to receive orders worth Rs 10,000 crore from the Indian Ministry of Defence (MoD) over the next 10 years. Defence exports of Reliance Infrastructure As a part of its export plan, Reliance Infrastructure Ltd, the flagship company of Anil Ambani's Reliance Group, is targeting Rs 3,000 crore from the export of 155 mm ammunition and aggregates by the end of financial year 2027, as per a report by news agency PTI. In the current year itself, the company is estimated to export Rs 1,500 crore of large calibre ammunition. Reliance Infrastructure has already clocked exports of up to Rs 100 crore of artillery ammunition and aggregates and is aiming to be among the top three exporters of defence equipment in India, sources aware of the matter said. In order to fulfill the export order, the Anil Ambani's Reliance Group has been allotted 1,000 acres of land in Watad Industrial Area of Ratnagiri, Maharashtra to develop DADC. The new project of the Anil Ambani group will be the largest greenfield project in the defence sector in India by any private sector company. As per the recent update, the company is setting up an integrated explosives and ammunition manufacturing plant in DADC. Key export market for Reliance Infra The key export market for Reliance includes countries in the European Union, focusing on large restocking demand for artillery ammunition. According to the experts, the market size for restocking is estimated at Rs 4,00,000 crore. As per a report by news agency PTI, a Reliance Infrastructure spokesperson confirmed that the ammunition export is the key priority of the company as it develops Dhirubhai Ambani Defence City (DADC) in Ratnagiri, Maharashtra, with a capital outlay of Rs 5,000 crore. (With inputs from agencies)
India.com
6 days ago
- Business
- India.com
From Defence to Green energy deals, how Anil Ambani is quietly reviving his Reliance Group with the help of...
Anil Ambani (File) Anil Ambani has not tasted the same level of professional success as his illustrious older sibling, Mukesh Ambani– Asia's richest man. But the junior Ambani has witnessed a recent turnaround of fortunes, and is quietly, yet steadily reviving his debt-ridden Reliance Group business empire with the help of his two sons, Jai Anmol Ambani and Jai Anshul Ambani. While other conglomerates have moved to sectors like AI and related areas, Anil Ambani has focused on two emerging sectors, green energy and defense, which are a key part of Indian government's Viksit Bharat 2047 vision. Ambani's focused vision has paid off as Reliance Power and Reliance Infrastructure, two of Reliance Group's last remaining profitable companies, are now completely debt-free and churning out profits after years of bankruptcy. Anil Ambani's focus on green energy, defense Reliance Power has several inked major deals this year, including its subsidiary, Reliance NU Energies, securing an allocation of 350 MW of solar generation capacity paired with a 175 MW/700 MWh battery storage system. Reliance NU Suntech, another Reliance Power subsidiary, has 25-year purchase agreement with the Solar Energy Corporation of India (SECI) to build Asia's largest integrated solar and battery storage project, at an investment of up to Rs 10,000 crore, The mega solar power project is aimed to build a 930 MW solar capacity paired with 465 MW/1860 MWh battery storage. Additionally, the Reliance Group has also acquired a Rs 2000 crore contract for a setting up a 500 MW solar project, and a 750 MW hydroelectric project in Bhutan in partnership with Druk Holding. In the defense sector, Reliance Defence, a subsidiary of Reliance Infrastructure, has partnered with German arms maker Rheinmetall AG to manufacture propellants and explosives in Maharashtra's Ratnagiri district. The two partners will set up a factory as part of the proposed 1,000-acre Dhirubhai Ambani Defence City. Earlier, Reliance Defence signed similar deals with French Dassault Aviation and Thales. In a recent statement, Anil Ambani revealed that his goal was to make Reliance Defence among India top three defence exporters. How Anil Ambani made Reliance Infra and Reliance Power debt-free? Last year, Anil Ambani raised Rs 17,600 crore to further reduce the debt burden of his companies. According to media reports, only two listed companies of Anil Ambani's Reliance Group, Reliance Infra and Reliance Power, have managed to become completely debt-free, while most of group's other firms still owe substantial amounts to creditors. Both Reliance Infra and Reliance Power, along with their subsidiaries, started repaying loans in September last year, and are now debt-free, as per reports. Anil Ambani began investing funds into both these companies in August 2024, and funds were raised through Foreign Convertible Currency Bonds (FCCB) and Preferential Issue. Together, Reliance Infra and Reliance Power issued a preferential equity issue worth Rs 4500 crore, apart from raising Rs 7100 crore from Varde Partners via FCCB. Additionally, the two firms also raised Rs 3000 crore each Qualified Institutional Placement (QIP). Anil Ambani's sons powering Reliance Group revival? The remarkable comeback story of Anil Ambani is powered by none other than his two sons, Jai Anmol Ambani, and his younger brother, Jai Anshul Ambani. The two brothers, who joined their father's business when everything was going downhill, have revived the Reliance Group with their sharp business acumen. Jai Anmol and Jai Anshul have taken up leadership roles within the indebted Reliance Group, and have helped the Anil Ambani-led company to secure new deals, and cut down the mammoth debt faced by many of the group's companies. Anil's elder son, Jai Anmol Ambani, attempted a revival of Reliance Capital, but despite his best efforts, could not save the debt-ridden firm from going bust and being taken over Hinduja Group's IndusInd International Holdings Ltd (IIHL), while Jai Anshul Ambani, Anmol's younger sibling is assisting the Reliance Group in two new ventures, Reliance Nippon Life Insurance, and Reliance Capital Asset Management. Notably, both Anil Ambani and his son Jai Anmol have recently stepped from management of Reliance Power and Reliance Power, and even sought declassification as promoter shareholders, though company filing still contain their names.
India.com
7 days ago
- Business
- India.com
Masterstroke by Anil Ambani as he invests Rs 17600000000 in..., Ambani raised these funds from...
Anil Ambani (File) Anil Ambani, the younger brother of Asia's richest man, Mukesh Ambani has witnessed a remarkable turnaround of fortunes of late, especially in the current financial year, with many of his Reliance Group companies now debt-free and making significant profits. Anil Ambani's sons Jai Anmol Ambani and Jai Anshul Ambani have set the Reliance Group on the path of revival, with the group's companies recently acquiring some major contracts, including Japanese firm Nippon making a substantial investment in Reliance Capital. The impact of the Nippon deal was quickly visible as the debts of several Reliance Group companies began to decrease, but the group is still facing a mountain of loans which it needs to settle in order to avoid bankruptcy. How Reliance Infra and Reliance Power became debt-free? Last year, Anil Ambani raised Rs 17,600 crore to further reduce the debt burden of his companies. According to media reports, only two listed companies of Anil Ambani's Reliance Group, Reliance Infra and Reliance Power, have managed to become completely debt-free, while most of group's other firms still owe substantial amounts to creditors. Both Reliance Infra and Reliance Power, along with their subsidiaries, started repaying loans in September last year, and are now debt-free, as per reports. Anil Ambani began investing funds into both these companies in August 2024, and funds were raised through Foreign Convertible Currency Bonds (FCCB) and Preferential Issue. How Anil Ambani raised Rs 17,600 crore? Together, Reliance Infra and Reliance Power issued a preferential equity issue worth Rs 4500 crore, apart from raising Rs 7100 crore from Varde Partners via FCCB. Additionally, the two firms also raised Rs 3000 crore each Qualified Institutional Placement (QIP). Thus, Anil Ambani revived Reliance Infra and Reliance Power by raising Rs 17,600 crore. Meanwhile, the combined market cap of Reliance Power and Reliance Infra reached Rs 33000 crore on Thursday, even as as shares of three Reliance Group companies witnessed a strong uptick last week. Recently, Reliance Group acquired a Rs 2000 crore contract for a setting up a solar project in Bhutan, while Reliance Defence– a subsidiary of Anil Ambani-led Reliance Infrastructure Limited– has signed a deal with German arms maker Rheinmetall AG to manufacture ammunition.
India.com
24-05-2025
- Business
- India.com
Bombs, guns and a Rs 2000 crore mega deal in...: Meet unknown heroes who saved Anil Ambani's bankrupt business empire; read the inside story
Anil Ambani (File) The year 2020 was a difficult period for everyone across the globe as the Covid-19 pandemic had essentially shut down the world, crippling economies, and bringing world governments to its knees. But apart from the pandemic, the year presented a different threat to Anil Ambani– the younger brother of Asia's richest man Mukesh Ambani– as the Indian industrialist stood at the verge of bankruptcy due to failing businesses and mounting debts. When Anil Ambani declared bankruptcy Chinese banks sued Anil Ambani for failing to repay a Rs 5000 crore loan in London court. Ambani appeared in the court in an online trial and declared he was bankrupt, stating that he did not even have enough money to hire a lawyer, and his wife and son are bearing his daily expenses. Fast-forward five years and today Anil Ambani is making a triumphant comeback in the business world, with many of his companies now debt-free and earning significant profits. But Ambani did not achieve this revival alone, but with the help of two men who essentially brought his Reliance Group business empire back from the dead. Let us find out who these unsung heroes are: How Anil Ambani's sons powered Reliance Group revival? The remarkable comeback story of Anil Ambani was powered by none other than his two sons, Jai Anmol Ambani, and his younger brother, Jai Anshul Ambani. The two brothers, who joined their father's business when everything was going downhill, have revived the Reliance Group with their sharp business acumen. Jai Anmol and Jai Anshul have taken up leadership roles within the indebted Reliance Group, and have helped the Anil Ambani-led company to secure new deals, and cut down the mammoth debt faced by many of the group's companies. Anil's elder son, Jai Anmol Ambani, attempted a revival of Reliance Capital, but despite his best efforts, could not save the debt-ridden firm from going bust and being taken over Hinduja Group's IndusInd International Holdings Ltd (IIHL). On the other hand, Jai Anshul Ambani, the younger son of Anil Ambani, is assisting the Reliance Group in two new ventures, Reliance Nippon Life Insurance, and Reliance Capital Asset Management. While Anshul is still learning the ropes, and steadily becoming more active in the business, his older sibling, Jai Anmol Ambani, who stepped in the business at the age of 18, is emerging as a veteran businessman, shows all signs of being ready to step in his father's shoes and manage, and revive the debt-ridden business empire. Reliance Group signing mega deals under Jai Anmol and Jai Anshul Ambani During recent months, Reliance Group, now under the leadership of Anil Ambani's sons, has taken giant strides towards making the conglomerate profitable again. The once-crumbling business empire of Anil Ambani has cut down debts of many of its companies, and reduced losses, thus attracting new orders as well as potential investors. Recently, Reliance Group acquired a Rs 2000 crore contract for a setting up a solar project in Bhutan, while Reliance Defence– a subsidiary of Anil Ambani-led Reliance Infrastructure Limited– has signed a deal with German arms maker Rheinmetall AG to manufacture ammunition.
