Mukesh Dhirubhai Ambani is an Indian business tycoon. He is the chairman, managing director and the largest shareholder of Reliance Industries Limited (RIL). Since 1981, he started working alongside his father Dhirubhai Ambani in their family business, Reliance. RIL deals mainly in petrochemicals, refining and in the oil and gas sectors. Over the years, the business has expanded to provide products and services like Retail Markets and Telecommunications. In the country’s telecommunication services, Reliance’s Jio has earned a top five spot. It was launched on September 5, 2016. On the Forbes magazine's list for the past ten years, Ambani has consistently held the title of being India's richest person. As of January 2018, by Forbes, he was ranked as the 18th-wealthiest person in the world. With a net worth of $44.3 billion in July 2018, he surpassed Jack Ma, executive chairman of Alibaba Group, to become Asia's richest person. Outside North America and Europe, he is also the wealthiest person in the world. He also owns the Indian Premier League franchise Mumbai Indians. At the Antilia Building, Ambani resides. With its value reaching $1 billion, it is one of the world's most expensive private residences. Early life: Mukesh was born in Aden, Yemen. He was brought up in Mumbai, India. In the early 1970s, in Chemical Engineering, he received his degree from the Institute of Chemical Technology.
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Reliance Industries 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, and another Rs 53,124.20 crore through a rights issue in the past 58 days.
Reliance Industries Ltd (RIL) net-debt was ₹ 161,035 crore, as on 31st March 2020. The company has raised ₹115,693.95 crore from 10 tech investors and ₹ 53,124.20 crore from RIL's rights issue.
Ambani's oil-to-telecom conglomerate has announced the sale of about USD 14 billion of assets, completed a USD 7 billion rights issue, and slowed the run rate of new investment by a quarter.
Reliance Industries Limited (RIL) and Jio Platforms Limited, Indias leading digital services platform, on Saturday announced an investment of Rs 1894.50 crore by L Catterton, one of the worlds largest consumer focused private equity firms.
Reliance Industries Limited (RIL) and Jio Platforms Limited, India's leading digital services platform, on Saturday announced an investment of Rs 1894.50 crore by L Catterton, one of the worlds largest consumer focused private equity firms.
Global alternative asset firm TPG and consumer focused private equity firms L Catterton on Saturday bought 0.93 per cent and 0.39 per cent stake in Jio Platforms, investing a total of Rs 6,441 crore.
Billionaire Mukesh Ambani has got 5.52 lakh shares of his flagship firm Reliance Industries (RIL) in the just-concluded Rs 53,124 crore rights issue, according to the company's regulatory filing on Thursday.
Mukesh Ambani's Reliance Jio has received an investment worth whooping Rs 87,655 crore in the last 6 weeks. The most recent of the lot came in face of Rs 9,093 crore invested by Abu Dhabi based Mubadala investment company. Mubadala's investment in Reliance Jio will translate into 1.85 per cent equity state.
With this investment, Mukesh Ambani's Jio Platforms has raised Rs 87,655.35 crore from leading global technology and growth investors, including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR and Mubadala, in less than six weeks.
Reliance Industries mega Rs 53,124 crore rights issue is the largest in the world by a non-financial issuer in the last 10 years, an analyst said. Oil-to-telecom conglomerate Reliance Industries Ltd's rights issue opened for the subscription of shareholders on May 20 and will close on Wednesday.
The Mukesh Ambani-led Reliance Industries has received a resounding response to its Rs 53,124 crore RIL rights issue. The country's largest-ever fundraising initiative got oversubscribed 1.1 times on June 1, 2020, with two more days to go.
Riding on the Rs 1.3 lakh crore in aggregate fund raising in the last few weeks, Reliance Industries is expected to repay its entire reported net debt even if the Saudi Aramco deal is delayed, a brokerage report said.
Anant Ambani, the youngest son of Mukesh Ambani, has formally joined the Reliance Industries's digital venture Jio Platforms as an additional director. RIL's Jio Platforms has been in the news for the past few weeks as it received billions of dollars of investment from Facebook, KKR, Vista and others.
Mukesh Ambani’s Reliance Industries Ltd has launched an online grocery service, JioMart across India, after running pilot programme in Maharashtra’s Navi Mumbai, Thane, and Kalyan. Reliance's JioMart is expected to challenge its rivalling Amazon.com's local unit and Walmart Inc's Flipkart in the huge Indian market.
Reliance Industries Limited (RIL) and Jio Platforms Limited, India's leading digital services platform, on Friday announced the sale of a 2.32 per cent stake in its digital unit to US private equity giant KKR for Rs 11,367 crore, the fifth deal in four weeks that will inject a combined Rs 78,562 crore in the oil-to-telecom conglomerate to help it pare debt.
Despite losing an estimated $38 billion as part of his recent divorce, Bezos is still by far the world's richest person and his net worth has grown by 34 per cent on average over the last five years, said the study, by Comparisun, a company which helps organisations compare different business products.
Reliance Industries Limited on Friday informed the BSE Sensex that Vista Equity Partners will invest ₹ 11,367 crore into Jio Platforms. With this Jio Platforms has now raised ₹ 60,596.37 crore from leading technology investors in less than three weeks.
Billionaire Mukesh Ambani has accelerated the timeframe for wiping out Rs 1.61 lakh crore of net debt at his Reliance Industries by bringing in strategic investors in key businesses as well as committing more equity.
Mukesh Ambani, chairman of the Reliance Industries, has decided to forego all his remuneration. With this, India's largest company will also cut the salary of most of its employees by 10 to 50 percent.
Mukesh Ambani's Reliance Industries Ltd and Mark Zuckerberg-founded Facebook on Wednesday announced that the US tech giant will buy a 9.99 per cent stake for $5.7 billion (Rs 43,574 crore) in India's oil-retail-telecom conglomerate Reliance Industries Limited (RIL) led Jio Platforms.
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