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.
Shares of Reliance Industries on Friday gained over 2 per cent to hit their one-year high level after the company announced sale of 1.85 per cent stake in its digital unit, Jio Platforms, to Abu Dhabi-based sovereign investor Mubadala. On BSE, the heavyweight stock jumped 2.38 per cent to Rs 1,617.70 -- its 52-week high.
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.
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.
Reliance Industries' Rs 53,125 crore mega rights issue opened for subscription by shareholders on Wednesday. It became the first issue where eligible shareholders got the rights entitlements (REs) in demat, which could be traded on stock exchanges.
Equity benchmark indices gained for the second consecutive day on Wednesday as heavy buying was witnessed in pharma and financial stocks.
Eight of the 10 most valued Indian companies lost Rs 2,50,825.28 crore in market valuation last week, with TCS and HDFC twins taking the biggest hit. In the top-10 list, only Reliance Industries Ltd and Bharti Airtel managed to close the trading week with gains.
Days after Facebook, private equity firm Silver Lake said it will invest 56.56 billion rupees ($746.74 million) in Reliance Industries's digital arm, giving it a valuation of 4.90 trillion rupees.
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.
Anil Ambani-led Reliance Group companies' shares worth over Rs 3.31 crore were offloaded through open market transactions on Thursday.
Six of the 10 most valued domestic companies suffered a combined erosion of Rs 95,432.26 crore in market valuation last week, dragged down by Reliance Industries Limited (RIL) and HDFC Bank amid a bearish trend in the broader market.
Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries (RIL), has acquired 100 per cent stake in Tamil Nadu-based Shri Kannan Departmental Store Private Limited for Rs 152.5 crore.
The ten most valued domestic firms together lost a massive Rs 3.35 lakh crore from their market capitalization last week, as the equity markets witnessed massive sell-off amid fears of coronavirus outbreak turning into a pandemic.
With USD 67 billion, Ambani is also the ninth richest in the world which is topped by Jeff Bezos of Amazon with USD 140 billion. The second in the list is SP Hinduja family (USD 27 billion), Gautam Adani (a little over USD 17 billion), Shiv Nadar & family (close to USD 17 billion), and Lakshmi Mittal with over USD 15 billion in networth.
Reliance Industries Ltd (RIL) shares traded marginally lower by 0.91 per cent on Tuesday after the company announced a consolidation of all its media and distribution businesses under the flagship 'Network18'.
The company announced the launch of new format grocery stores – SMART Point, which are purported to complement the JioMart initiative.
Mukesh Ambani, Chairman and Managing Director of Reliance Industries and Asia’s richest man just added almost $17 billion to his wealth as of December 23, the most in Asia, taking his net worth to about $60 billion, according to the Bloomberg Billionaires Index. According to Forbes magazine, Mukesh Ambani is the 10th richest man in the world as of December 2019.
The Delhi High Court has asked Reliance Industries (RIL) and British Gas (BG) to disclose their assets on the central government's plea for directions to both companies not to dispose of their assets.
The 30-share BSE Sensex was trading higher by 84.17 points at 40,934.46 in opening deals; while the broader 50-share NSE Nifty was up by 21.95 points at 12,065.15. The Sensex gains were driven by heavyweight Reliance Industries, followed by automakers like Heromoto Corp and Tata Motors.
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