Reliance Group

Last updated

Reliance Group
Company type Private
Industry Conglomerate
PredecessorCarved out from
Reliance Industries
Founded10 July 2006;18 years ago (10 July 2006)
Founder Anil Ambani
Headquarters
Reliance Centre, Santacruz (East), Mumbai
,
India
Key people
Anil Ambani (chair, MD) &
Tina Munim Ambani (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]

In March 2022, Anil Ambani stepped down from the boards of Reliance Infrastructure and Reliance Power.

In August 2024, SEBI banned Anil Ambani from the securities market for five years on charges of diversion of funds. [8]

Major acquisitions

DateFirm acquiredRenamed firm
May 2000BSES [9] 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, Maharashtra, India. Its businesses include energy, petrochemicals, natural gas, retail, entertainment, telecommunications, mass media, and textiles. Reliance is the largest public company in India by market capitalisation and revenue, and the 100th largest company worldwide. It is India's largest private tax payer and largest exporter, accounting for 7% of India's total merchandise exports.

<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 Gujarati surname found in the Indian State of Gujarat.

<span class="mw-page-title-main">Dhirubhai Ambani</span> Indian billionaire businessman (1932–2002)

Dhirajlal Hirachand "Dhirubhai" Ambani was an Indian billionaire 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 businessman (born 1957)

Mukesh Dhirubhai Ambani is an Indian billionaire businessman who is the chairman and managing director of Reliance Industries. He is the richest person in Asia and 9th richest in the world.

<span class="mw-page-title-main">Anil Ambani</span> Indian businessman (born 1959)

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 listed corporations, including Reliance Capital, Reliance Infrastructure, Reliance Power, and Reliance Communications. Anil's net worth is currently estimated at around $30 million.

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

Tina Ambani is an Indian former actress. She is married to Anil Ambani, chairman of Reliance Group.

<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 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 Group is an Indian media conglomerate, based in Mumbai. It is owned by Reliance Industries. Rahul Joshi is the managing director, chief executive officer and group editor-in-chief of Network18 Group, and Adil Zainulbhai is the chairman of its board of directors.

<span class="mw-page-title-main">Anand Jain</span> Indian business executive (born 1957)

Anand Jain is an Indian business executive. He is the Chairman of Jai Corp. Limited.

Reliance Power Limited (R-Power), formerly Reliance Energy Generation Limited (REGL) is a part of the Reliance 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 and former chief executive officer of Reliance Infrastructure, part of the Reliance Anil Dhirubhai Ambani Group, 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 and businesswoman (born 1964)

Nita Ambani is an Indian philanthropist and businesswoman. 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 Limited's chairman and managing director Mukesh Ambani. With a family fortune estimated in excess of US$117.8 billion, the Ambani's 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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  2. "Here's a look at all the companies that Anil Ambani owns". Business Insider. Archived from the original on 2 October 2020. Retrieved 28 October 2019.
  3. "Mukesh to double enterprise value to US$160 bn: Rediff.com Business". Rediff.com. 18 June 2010. Archived from the original on 20 July 2011. Retrieved 14 August 2010.
  4. "Reliance set to split between Anil and Mukesh Ambani – Central Government may intervene!". IndiaDaily. Archived from the original on 9 October 2008. Retrieved 14 August 2010.
  5. "Reliance Power, Shanghai Electric ink $8.3 bln deal". Reuters.com. Reuters. 28 October 2010. Archived from the original on 17 August 2016. Retrieved 28 July 2016.
  6. "Reliance-Dassault JV to start output in Q1 of 2018". The Times of India. 28 October 2018. Archived from the original on 21 December 2017. Retrieved 29 October 2017.
  7. John, Derick. "RELIANCE Institutional Ownership - RELIANCE INDUSTRIES LTD". fintel.io. Archived from the original on 30 November 2022. Retrieved 26 April 2020.
  8. "Sebi ban on Anil Ambani, and his Reliance Group's many troubles: A timeline". Business Standard.
  9. "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.