The "Bhaijaan" of Bollywood, Salman Khan, was spotted leaving Jamnagar after celebrating his 59th birthday and New Year with the Ambani family and friends. He greeted fans and paparazzi with "Happy New Year" before leaving for Mumbai. Fans are eagerly waiting for his upcoming film, Sikandar, with Rashmika Mandanna, which is set to release on Eid 2025.
In a surprising turn of events, UFC star Conor McGregor has announced that he will be facing YouTube and WWE star Logan Paul in a boxing exhibition match in India, with the backing of the Ambani family. While Logan Paul is yet to comment on the matchup, this will be a major opportunity for him to redeem himself after recent losses. For McGregor, this fight marks a new chapter in his career as he looks to return to the Octagon after a period of trouble.
Congress leader Rahul Gandhi delivered a strong speech during the Lok Sabha discussion on India's Constitution, denouncing the BJP and its ideological mentor RSS. He invoked Mahabharata references to accuse the government of metaphorically severing the thumbs of citizens through various policies such as the Agniveer scheme and handing over businesses to Adani and Ambani. He also criticized the government for its handling of ongoing farmers' protests.
The Solar Energy Corporation of India (SECI) has debarred Reliance Power and its subsidiary Reliance NU BESS Limited from participating in future tenders for the next three years due to a fake bank guarantee submitted by the companies in a recent bid for a battery storage project. SECI has also extended the debarment to Reliance Power and its subsidiaries, citing their close relationship and influence on the bidding process. The move is a significant setback for Anil Ambani's business interests.
Reliance Industries Ltd. (RIL) is preparing for the highly anticipated IPO of its telecommunications subsidiary, Jio Platforms Ltd., with plans for a listing by 2025. The valuation of Jio is currently estimated at over $100 billion, with analysts predicting a potential IPO valuation of $112 billion. The IPO will allow existing investors to exit, while RIL's chairman Mukesh Ambani aims to list Jio as a subsidiary structure rather than demerging it. In 2020, Jio secured investments from several strategic partners, including Meta and Google, and recently announced a partnership with Nvidia to develop AI data centers in India.
According to sources, Mukesh Ambani, the chairman and managing director of Reliance Industries, has set a target to list the group's telecom business, Jio, next year with a valuation of over USD 100 billion. The conglomerate also plans to launch the IPO of its retail unit at a later time. Ambani had previously announced a timeline of five years for Reliance Jio and Reliance Retail to go public, but the company has now firmed up plans to launch the Jio IPO in 2025, indicating confidence in its stable business and revenue stream as India's top telecom player.
Indian billionaire Mukesh Ambani plans to launch the IPO for his telecom business Jio in 2025 with a target valuation of over $100 billion. Ambani, who hasn't updated his IPO timelines since 2019, has successfully raised $25 billion from investors for his digital, telecom, and retail ventures in recent years. However, the IPO for his retail unit is not expected until after 2025 as the company needs to address some internal business and operational challenges.
As the festival of lights approaches, Reliance Industries, led by Mukesh and Nita Ambani, has again made headlines with their generous gesture of gifting specially curated boxes to their employees. The box, adorned with festive decorations and filled with an assortment of dry fruits, symbolizes prosperity and fosters a sense of community within the organization. This Diwali gift is yet another example of Reliance's commitment to valuing and appreciating their hardworking employees, ensuring a positive and inclusive work environment.
During the recent Nvidia AI Summit 2024 in Mumbai, Reliance's Mukesh Ambani and Nvidia's Jensen Huang had a conversation on AI and India's role in it. In the chat, Ambani praised Mark Zuckerberg for making Meta's Llama AI model open source. He also added that this move "will be written in history" and give everyone an opportunity to participate in the AI revolution.
In a bold move, a Delhi-based app developer purchased the domain name "jiohotstar.com" and tried to negotiate a deal with Reliance, hoping to use the profits to fund his studies at Cambridge. However, after being denied by Reliance, the developer shared updates on social media, revealing that the company has threatened legal action. This news adds to the speculation surrounding a possible merger between Jio and Disney's Hotstar platform, which has recently been approved by the Competition Commission of India. In the midst of this, Nita Ambani is rumored to be the chairperson of the newly formed entity, further solidifying Reliance's dominant position in the Indian OTT space.