Reliance Group
Reliance Group is an Indian conglomerate, headquartered in Mumbai, India.
This article's factual accuracy may be compromised due to out-of-date information.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) |
The company, which was formed after Dhirubhai Ambani's business was divided up, is headed by his younger son Anil Ambani. 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.
Wiki English | |
| 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 (Owner and Chairman, Managing Director & Chief Executive Officer) Tina Munim Ambani (Co-Owner and Non Executive Director) |
| Products | Financial services, construction, entertainment, power, health care, aviation, defense |
| Owner | Anil Ambani (55.54%) |
| Subsidiaries | |
| Website | www |
History
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. 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 $8.29 billion to Shanghai Electric Group to supply power equipment based on Supercritical steam generator technology. On 28 October 2017, the group launched construction of a defense production unit in Mihan-SEZ region. The unit will be part of a joint venture between Reliance Group, led by Anil Ambani, and its JV partner French major Dassault Aviation. The production at Mihan-SEZ will begin with components for the Rafale warplanes and Falcon business jet produced by Dassault. It is expected to fully assemble both the aircraft in the Nagpur unit in the coming years.
Major acquisitions
| Date | Firm acquired | Renamed firm |
|---|---|---|
| May 2000 | BSES | Reliance Infrastructure |
| Oct 2003 | FLAG Telecom, 207Mn$ | 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
References
External links
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