Jio pays Rs 30,791 crore to clear bulk of spectrum dues
NEW DELHI: Mukesh Ambani-led Reliance Jio Infocomm Ltd (RJIL), has announced that it has paid Rs.30,791 crore (including accrued interest) to the Department of Telecom (DoT) towards prepayment of the entire deferred liabilities pertaining to spectrum acquired in auctions of year 2014, 2015, 2016 and the spectrum acquired in year 2021 through trading of right […]
Gautam Adani now Asia’s second richest, earns Rs 1,000 crore daily
NEW DELHI: India produced 179 more super-rich people this year led by Adani Group’s Gautam Adani who amassed a whopping wealth of Rs 3.65 trillion or more than Rs 1,000 crore daily, and the number of such individuals has crossed the 1,000-mark. Geographically, five more cities are home to super-rich taking the total number of […]
JioPhone Next, co-developed with Google, to be most affordable smartphone globally: Mukesh Ambani
NEW DELHI: Reliance Industries Chairman Mukesh Ambani on Thursday said Jio and Google have jointly developed Made for India ‘JioPhone Next’, a power-packed and affordable smartphone that will be available from September 10. Ambani promised that JioPhone Next will be the most-affordable smartphone, not just in India but globally, although the pricing was not disclosed. […]
Reliance Retail to grow 3x in next 3-5 years, create a million jobs: Mukesh Ambani
NEW DELHI: Reliance Industries’ retailing arm Reliance Retail would grow at least three times in the next 3 to 5 years, Chairman and Managing Director Mukesh Ambani said on Thursday. It continues to be among the fastest-growing retailers globally and the company aims to be among the top ten retailers of the world, Ambani said […]
RIL’s March quarter net profit more than doubles
NEW DELHI: Billionaire Mukesh Ambani’s Reliance Industries Ltd on Friday reported more than doubling of its March quarter net profit as consumer businesses of retail and telecom as well as petrochemicals saw sequential recovery on improved spreads offsetting continued weakness in refining business. Consolidated net profit of Rs 13,227 crore in January-March compared with Rs […]
Ambani buys Britain’s iconic country club Stoke Park for 57 million pounds
NEW DELHI: Billionaire Mukesh Ambani’s Reliance Industries Ltd has bought Britain’s iconic country club and luxury golf resort, Stoke Park, for 57 million pounds (about Rs 592 crore). The acquisition adds to Reliance’s current stake in Oberoi hotels and hotel/managed residences in Mumbai that it’s developing. Over the past four years, Reliance has announced USD […]
Mukesh Ambani to appeal against SEBI penalty
MUMBAI: Reliance Industries Limited (RIL) Chairman Mukesh Ambani will appeal against the fine imposed by market regulator SEBI over alleged irregularities in a two-decade-old share issue in the company, the firm said on Thursday. Reliance Industries Ltd (RIL) had issued debentures with convertible warrants in 1994 and allotted equity shares against the warrants in 2000. […]
Reliance petroleum: SEBI imposes a fine of Rs 15 crore on Mukesh Ambani
NEW DELHI: Commodity market regulator Securities and Exchange Board of India (SEBI) on Friday imposed penalties on Reliance Industries Ltd, its Chairman and Managing Director Mukesh Ambani as well as two other entities for allegedly indulging in manipulative trading in the shares of erstwhile Reliance Petroleum Ltd (RPL) back in November 2007. Fines of Rs […]
China’s Zhong Shanshan replaces Mukesh Ambani as Asia’s richest
NEW DELHI: Zhong Shanshan, founder of bottled water company Nongfu Spring has overtaken Reliance Industries Chairman Mukesh Ambani as the richest person in Asia, with a net worth of $77.8 billion. The Bloomberg Billionaires Index showed that Zhong’s net worth has surged $70.9 billion making him the richest man in Asian above both Mukesh Ambani […]
Mukesh Ambani sold dreams to tech giants for $27 billion, Now he has to deliver
By Anto Antony P R Sanjai and Saritha Rai NEW DELHI: Mukesh Ambani spent much of 2020 convincing Facebook Inc., Google and a clutch of Wall Street heavyweights to buy into his vision for one of the world’s most ambitious corporate transformations. Now flush with $27 billion in fresh capital, Asia’s richest man is under […]
Mukesh Ambani calls for policy steps for early roll out of 5G
NEW DELHI: Reliance Industries (RIL) Chairman Mukesh Ambani on Tuesday said there was a requirement of policy measures for the early roll out of the fifth generation (5G) connectivity technology. Addressing the inaugural session of India Mobile Congress (IMC), Ambani said Reliance Jio will pioneer India’s ‘5G Revolution’ in the second half of 2021. He […]
Future-RIL deal: Amazon gets a favourable ruling in arbitration case
NEW DELHI: Jeff Bezos-led Amazon has won a favourable ruling for its plea in Singapore against Kishore Biyani-headed Future Group striking a deal with Mukesh Ambani-led Reliance Industries Ltd (RIL). Future has been told not to proceed with its sale of shares to RIL till the outcome of the arbitration process, according to the sources. […]
Reliance raises Rs 7,350 crore from GIC, TPG through retail unit stake sale
NEW DELHI:Reliance Industries Limited (RIL) on Saturday announced Rs 7,350 crore investments by Singapore sovereign wealth fund GIC and global private equity firm TPG Capital in its retail unit, taking the total fundraising in the last one month to Rs 32,197.50 crore. While GIC invested Rs 5,512.5 crore in Reliance Retail Ventures Ltd (RRVL) for […]
KKR picks up 1.28 per cent stake in Reliance Retail for Rs 5,550 crore
NEW DELHI: Reliance Industries Limited (Reliance Industries) and Reliance Retail Ventures Limited (RRVL) announced today that global investment firm KKR will invest Rs 5,550 crore into RRVL, a subsidiary of Reliance Industries. This investment values Reliance Retail at a pre-money equity value of Rs 4.21 lakh crore. KKR’s investment will translate into a 1.28% equity […]
JioFiber announces 30-day free trial, with truly unlimited plans
NEW DELHI: Mukesh Ambani-led Reliance Jio on Monday announced new plans for JioFiber broadband starting at monthly price of Rs 399 with no limit on data usage. As per the new plans, entertainment app Netflix is added to the bouquet of bundled apps for customers subscribing mid-range plans. THE NEW JIOFIBER PLANS COME WITH: Truly […]
Reliance Industries buys Future Group for Rs 24,713 crore
NEW DELHI: Mukesh Ambani’s Reliance Industries Ltd on Saturday announced the acquisition of businesses of Kishore Biyani’s Future Group for Rs 24,713 crore to add to its fast expanding retail business and bolster e-commerce to take on the competition from Jeff Bezos’ Amazon. “Reliance Retail Ventures Limited (RRVL), subsidiary of Reliance Industries Limited, today announced […]