Reliance Group
TypePrivate
IndustryConglomerate
PredecessorCarved out from
Reliance Industries
Founded10 July 2006 (10 July 2006)
FounderAnil 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
OwnerAnil Ambani (55.54%)
Subsidiaries
Websitewww.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 Capital, Reliance Home Finance and Reliance Health. The group provides financial services, construction, entertainment, power, health care, manufacturing, defence, aviation, and transportation services.[2]

History

Founder and Chairman: Anil Ambani
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, 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 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$Reliance Globalcom
July 2005Metro Adlabs (51% stake), 74Mn$Reliance Entertainment
Apr 2008Lowry Digital USA, 7.5Mn$Reliance Big Entertainment
May 2008VancoReliance Globalcom
Apr 2010Codemasters UK (50% stake)Zapak
Sept 2011Bloomberg UTV (66% stake)Reliance Capital
Mar 2015Pipavav ShipyardReliance Infrastructure
Oct 2015MTS IndiaReliance Communication

See also

References

  1. ↑ "Reliance Group – Reliance Anil dmsumra 7Dhirubhai Ambani Group India – Reliance Group Profile". Iloveindia.com. 21 July 2007. Archived from the original on 2 October 2020. Retrieved 14 August 2010.
  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". 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". in.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". timesofindia.indiatimes.com. 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. ↑ "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.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.