Reliance Group

Last updated

Reliance Group
Company type Private
Industry Conglomerate
PredecessorCarved out from
Reliance Industries
Founded10 July 2006;17 years ago (10 July 2006)
Founder Anil Ambani
Headquarters
Reliance Centre, Santacruz (East), Mumbai
,
India
Key people
Anil Ambani (Owner and Chairman, Managing Director & Chief Executive Officer)
Tina Munim Ambani (Co-Owner and Non Executive Director)
ProductsFinancial services, construction, entertainment, power, health care, aviation, defense
Owner Anil Ambani (55.54%)
Subsidiaries
Website www.reliancegroupindia.com

Reliance Group is an Indian conglomerate, headquartered in Mumbai, India. The company, which was formed after Dhirubhai Ambani's business was divided up, is headed by his younger son Anil Ambani. [1] Reliance Group has five listed companies, Reliance Power, Reliance Infrastructure, Reliance Home Finance, and Reliance Health. The group provides financial services, construction, entertainment, power, health care, manufacturing, defence, aviation, and transportation services. [2]

Contents

History

Founder and Chairman: Anil Ambani Anil Ambani Reliance.jpg
Founder and Chairman: Anil Ambani
Chairperson: Tina Ambani Tina ambani.jpg
Chairperson: Tina Ambani

Reliance Commercial Corporation was founded by Dhirubhai Ambani in 1966 as a polyester firm. It was renamed to Reliance Industries on 8 May 1973. Reliance later entered into financial services, petroleum refining, and power sector. By 2002, Reliance had grown into a U$15 billion conglomerate. After the death of Dhirubhai Ambani on 6 July 2002, Reliance was headed by his two sons. The Reliance ADA Group was formed in 2006 after the two brothers Mukesh Ambani and Anil Ambani, split Reliance Industries in December 2005. [3] [4] Anil Ambani got the responsibility of Reliance Infocomm, Reliance Energy, and Reliance Capital. Reliance Group entered the power sector through Reliance Power, and the entertainment sector by acquiring Adlabs. In October 2010, Reliance power placed the world's largest order worth $8.29 billion to Shanghai Electric Group to supply power equipment based on Supercritical steam generator technology. [5] On 28 October 2017, the group launched construction of a defense production unit in Mihan-SEZ region. [6] The unit will be part of a joint venture between Reliance Group, led by Anil Ambani, and its JV partner French major Dassault Aviation. The production at Mihan-SEZ will begin with components for the Rafale warplanes and Falcon business jet produced by Dassault. It is expected to fully assemble both the aircraft in the Nagpur unit in the coming years. [7]

Major acquisitions

DateFirm acquiredRenamed firm
May 2000BSES [8] Reliance Infrastructure
Oct 2003FLAG Telecom, 207Mn$Reliance Globalcom
July 2005 Metro Adlabs (51% stake), 74Mn$Reliance Entertainment
Apr 2008 Lowry Digital USA, 7.5Mn$Reliance Big Entertainment
May 2008 Vanco Reliance Globalcom
Apr 2010 Codemasters UK (50% stake)Zapak
Sept 2011 Bloomberg UTV (66% stake)Reliance Capital
Mar 2015 Pipavav Shipyard Reliance Infrastructure
Oct 2015 MTS India Reliance Communication

See also

Related Research Articles

<span class="mw-page-title-main">Reliance Industries</span> Indian multinational conglomerate

Reliance Industries Limited is an Indian multinational conglomerate headquartered in Mumbai. Its businesses include energy, petrochemicals, natural gas, retail, telecommunications, mass media, and textiles. Reliance is the largest public company in India by market capitalisation and revenue, and the 100th largest company worldwide. In 2023, the company was ranked 45th in the Forbes Global 2000. It is India's largest private tax payer and largest exporter, accounting for 7% of India's total merchandise exports. The company has relatively little free cash flow and high corporate debt.

<span class="mw-page-title-main">Reliance Communications</span> Indian telecommunications company

Reliance Communications Limited (RCOM) was an Indian mobile network provider headquartered in Navi Mumbai, Maharashtra that offered voice and 2G and 3G and 4G data services. In February 2019, the company filed for bankruptcy as it was unable to sell assets to repay its debt. It has an estimated debt of 500 billion against assets worth 180 billion.

Ambani is a surname and may refer to the following people:

<span class="mw-page-title-main">Dhirubhai Ambani</span> Indian business tycoon and entrepreneur (1932–2002)

Dhirajlal Hirachand Ambani was an Indian businessman who founded Reliance Industries in 1958. Ambani took Reliance public in 1977. In 2016, he was honoured posthumously with the Padma Vibhushan, India's second-highest civilian honour for his contributions to trade and industry. Ambani faced numerous accusations of market manipulation, tax evasion, and cronyism.

Reliance may refer to:

<span class="mw-page-title-main">Mukesh Ambani</span> Indian billionaire (born 1957)

Mukesh Dhirubhai Ambani is an Indian billionaire businessman. He is the chairman and managing director of Reliance Industries, India's most valuable company by market value. With an estimated net worth of $112.1 billion according to Forbes as of February 2024, he is the richest person in Asia and 11th richest in the world. Sometimes characterized as a plutocrat; he has attracted both fame and notoriety for reports of market manipulation, political corruption, cronyism, and exploitation.

<span class="mw-page-title-main">Anil Ambani</span> Chairman of Reliance ADA Group

Anil Dhirubhai Ambani is an Indian businessman chairman and managing director of Reliance Group. The Reliance Group was created in July 2006 following a demerger from Reliance Industries Limited. He led several stocks listed corporations including Reliance Capital, Reliance Infrastructure, Reliance Power and Reliance Communications.

<span class="mw-page-title-main">Tina Ambani</span> Indian actress (born 1957)

Tina Ambani is a former Indian actress. She is married to Anil Ambani, chairman of Reliance Group. She was one of the leading actresses of the hindi film industry during the late 70s and 80s. She is actively involved in many foundations and charities. Many of these were established in the memory of her in-laws, Dhirubhai and Kokilaben Ambani. Her work ranges from elder care to promotion of Indian art.

<span class="mw-page-title-main">Reliance Infrastructure</span> Infrastructure development company based in Mumbai, India

Reliance Infrastructure Limited (R-Infra), formerly Reliance Energy Limited (REL) and Bombay Suburban Electric Supply (BSES), is an Indian private sector enterprise involved in power generation, infrastructure, construction and defence. It is part of the Reliance Anil Dhirubhai Ambani Group. The company is headed by its chairman, Anil Ambani, and chief executive officer, Punit Narendra Garg. The corporate headquarters is in Navi Mumbai. Reliance Infrastructure's interests are in the fields of power plants, metro rail, airports, bridges, toll roads, and defence. It is a major shareholder in the other group company, Reliance Power and Reliance Naval and Engineering Limited.

Network18 Media & Investments Limited, commonly referred to as the Network18 Group and sometimes as the Network18–Eenadu Group, is an Indian media conglomerate owned by the energy giant Reliance Industries, headed by billionaire Mukesh Ambani. Rahul Joshi is the managing director, chief executive officer and group editor-in-chief of Network18, and Adil Zainulbhai is the chairman of its board of directors.

Anand Jain is an Indian business executive. He is the Chairman of Jai Corp Limited. He has 30 years of experience in various businesses, with an expertise in real estate, finance and capital markets.

Reliance Power Limited (R-Power), formerly Reliance Energy Generation Limited (REGL) is a part of the Reliance Anil Dhirubhai Ambani Group. It was established to develop, construct, operate and maintain power projects in the Indian and international markets. Reliance Infrastructure, an Indian private sector power utility company and the Reliance ADA Group promote Reliance Power. The present CEO of Reliance Power is K. Raja Gopal since 2 May 2018.

Reliance Health is a subsidiary organisation of Reliance Group. The organisation looks after the health-care component of the conglomerate. The organisation is headed by the Indian businessman Anil Ambani. It runs two major hospitals and multiple medical centres throughout India.

<span class="mw-page-title-main">Lalit Jalan</span> Indian businessman

Lalit Jalan is the Advisor & former Chief Executive Officer of Reliance Infrastructure, part of the Reliance Anil Dhirubhai Ambani Group (ADAG), one of India's largest corporate houses. He is the Chairman of BSES Rajdhani Power Limited and BSES Yamuna Power Limited and serves as Director in several companies including Reliance Defence Ltd, which is associated with the Rafale deal between India and France.

Hill Grange High School was a private school for boys and girls located on Pedder Road, Mumbai, Maharashtra, India.

<span class="mw-page-title-main">Madhya Pradesh Global Investors' Summit</span>

Global Investors Summit, officially the Invest Madhya Pradesh Global Investors Summit or GIS is a biennial business summit organized by Government of Madhya Pradesh in Indore, the commercial capital of central India to attract domestic and foreign investment for development of the state. Based on the theme– India's Growth Centre and aimed at bringing together business leaders, investors, corporations, thought leaders, policy and opinion makers; the summit serves as a perfect platform to understand and explore business opportunities in the State of Madhya Pradesh.

<i>The Polyester Prince</i> Biography of Dhirubhai Ambani written by Hamish McDonald

The Polyester Prince: The Rise of Dhirubhai Ambani is an unauthorised biography of the Indian business tycoon and founder of Reliance Industries Limited (RIL) Dhirubhai Ambani by Hamish McDonald, an Australian journalist and author. This book was published in 1998 in Australia by Allen & Unwin but never published in India.

<span class="mw-page-title-main">Reliance Foundation</span> Private non-profit organization by Reliance Industries Ltd

Reliance Foundation is an Indian non-profit organisation which was founded in 2010 by Mukesh Ambani. It is wholly owned by Reliance Industries Limited and is one of the largest non-profit foundations in the country.

<span class="mw-page-title-main">Nita Ambani</span> Indian philanthropist

Nita Ambani is an Indian philanthropist. She is the chairperson and founder of the Reliance Foundation, Dhirubhai Ambani International School and a director of Reliance Industries. She is married to Reliance Industries chairman and managing director Mukesh Ambani. With a family fortune estimated in excess of US$83.4 billion, the Ambanis are among the richest in the world. She is also an art collector and the owner of the Indian Premier League cricket team Mumbai Indians.

The Dhirubhai Ambani Green Energy Giga Complex is a mega project being developed by Reliance Industries in Jamnagar, Gujarat, India. This is a fully integrated renewable energy manufacturing complex that will build gigafactories for photovoltaic panels, energy storage, green hydrogen, electrolyzers and fuel cells systems. The complex is being built on a 5,000 acres site and is expected to cost ₹75,000 crores. The first phase of the project, which includes the construction of a 20 GW solar photovoltaic module factory, is expected to be completed by 2023, 5 GWh annual cell to pack manufacturing facility by 2024, and further scale up to 50 GWh & 100 GWh annual capacity by 2027 & 2030.

References

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  8. "Reliance Group Takes over BSES – Reliance Anil dmsumra 7Dhirubhai Ambani Group India – Reliance Group Profile". The Economic Times. 10 June 2003. Archived from the original on 9 October 2019. Retrieved 9 October 2019.