This article'sfactual accuracymay be compromised due to out-of-date information.The reason given is: The Group has been widely reported to be facing insolvency proceedings with almost all entities within the Group filing for bankruptcy and going under the hammer as of September 2022. The article does not seem to reflect a majority of the updates in the last 5 years, and will some research in order to be updated to reflect the current status of the Reliance Anil Dhirubhai Ambani Group..(September 2022) |
Reliance Groupis an Indianconglomerate,headquartered inMumbai,India. The company, which was formed afterDhirubhai Ambani's business was divided up, is headed by his younger sonAnil Ambani.[1] Reliance Group has five listed companies,Reliance Power,Reliance Infrastructure,Reliance Home Finance, andReliance Health.The group provides financial services, construction, entertainment, power, health care, manufacturing, defence, aviation, and transportation services.[2]
 | |
| Company type | Private |
|---|---|
| Industry | Conglomerate |
| Predecessor | Carved out from Reliance Industries |
| Founded | 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) |
| Products | Financial services, construction, entertainment, power, health care, aviation, defense |
| Owner | Anil Ambani(55.54%) |
| Subsidiaries | |
| Website | www |
History
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Reliance Commercial Corporation was founded byDhirubhai Ambaniin 1966 as apolyesterfirm. It was renamed toReliance Industrieson 8 May 1973. Reliance later entered into financial services, petroleum refining, and power sector. By 2002, Reliance had grown into a U$15 billionconglomerate.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 brothersMukesh AmbaniandAnil Ambani,splitReliance Industriesin December 2005.[3][4]Anil Ambani got the responsibility ofReliance Infocomm,Reliance Energy,andReliance Capital.Reliance Group entered the power sector throughReliance Power,and the entertainment sector by acquiring Adlabs. In October 2010, Reliance power placed the world's largest order worth $8.29 billion toShanghai Electric Groupto supply power equipment based onSupercritical steam generatortechnology.[5]On 28 October 2017, the group launched construction of a defense production unit inMihan-SEZregion.[6]The unit will be part of a joint venture between Reliance Group, led by Anil Ambani, and its JV partner French majorDassault Aviation.The production at Mihan-SEZ will begin with components for theRafalewarplanes andFalconbusiness jet produced by Dassault. It is expected to fully assemble both the aircraft in theNagpurunit in the coming years.[7]
In March 2022, Anil Ambani stepped down from the boards of Reliance Infrastructure and Reliance Power.
In August 2024,SEBIbanned Anil Ambani from the securities market for five years on charges of diversion of funds.[8]
Major acquisitions
edit| Date | Firm acquired | Renamed firm |
|---|---|---|
| May 2000 | BSES[9] | Reliance Infrastructure |
| Oct 2003 | FLAG Telecom, 207Mn$ | Reliance Globalcom |
| July 2005 | Metro Adlabs(51% stake), 74Mn$ | Reliance Entertainment |
| Apr 2008 | Lowry DigitalUSA, 7.5Mn$ | Reliance Big Entertainment |
| May 2008 | Vanco | Reliance Globalcom |
| Apr 2010 | CodemastersUK (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
editReferences
edit- ^"Reliance Group – Reliance Anil dmsumra 7Dhirubhai Ambani Group India – Reliance Group Profile".Iloveindia.com. 21 July 2007.Archivedfrom the original on 2 October 2020.Retrieved14 August2010.
- ^"Here's a look at all the companies that Anil Ambani owns".Business Insider.Archivedfrom the original on 2 October 2020.Retrieved28 October2019.
- ^"Mukesh to double enterprise value to US$160 bn: Rediff.com Business".Business.rediff.com. 18 June 2010.Archivedfrom the original on 20 July 2011.Retrieved14 August2010.
- ^"Reliance set to split between Anil and Mukesh Ambani – Central Government may intervene!".IndiaDaily. Archived fromthe originalon 9 October 2008.Retrieved14 August2010.
- ^"Reliance Power, Shanghai Electric ink $8.3 bln deal".in.reuters.com.Reuters. 28 October 2010. Archived fromthe originalon 17 August 2016.Retrieved28 July2016.
- ^"Reliance-Dassault JV to start output in Q1 of 2018".timesofindia.indiatimes.com. 28 October 2018.Archivedfrom the original on 21 December 2017.Retrieved29 October2017.
- ^John, Derick."RELIANCE Institutional Ownership - RELIANCE INDUSTRIES LTD".fintel.io.Archivedfrom the original on 30 November 2022.Retrieved26 April2020.
- ^"Business Standard".
- ^"Reliance Group Takes over BSES – Reliance Anil dmsumra 7Dhirubhai Ambani Group India – Reliance Group Profile".The Economic Times.10 June 2003.Archivedfrom the original on 9 October 2019.Retrieved9 October2019.
