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.
After raising $25 billion from top investors, Mukesh Ambani's Reliance Jio is planning to go public with an estimated IPO valuation of $112 billion, surpassing Hyundai India's earlier record. The telecom giant, which currently boasts a subscriber count of 479 million, plans to list its retail and telecom units separately. While Jio is expected to go public in 2025, the retail arm's IPO is likely to follow at a later date due to operational challenges. The company is also increasing its competitive edge with partnerships and collaborations in the tech sector.
The recent allocation of satellite spectrum by the Indian government has sparked a bitter rivalry between two tech tycoons, Mukesh Ambani and Elon Musk. The decision to allocate the spectrum administratively rather than through auction has caused controversy, with Ambani's Reliance Jio initially lobbying for an auction. After Musk's SpaceX entered the fray, the rivalry intensified with Musk taking a direct dig at Ambani over Starlink's potential entry into the Indian market.
The Reliance Group, headed by business tycoon Anil Ambani, made a major announcement on Wednesday regarding a plan to reduce its debt by up to Rs 12,000 crore. As part of this plan, Reliance Infra received a Rs 1,100 crore infusion from its promoters on Monday, leading to a 20% surge in its shares on stock markets. In addition, the group also revealed plans to form a joint venture with BlackRock for investment advisory, demonstrating its commitment to financial transformation.
The annual Hurun India Rich List has named Adani family as the nation's wealthiest, surpassing Mukesh Ambani's longtime reign. Led by Gautam Adani, the family's net worth has skyrocketed to Rs 11.6 lakh crore, showing a remarkable 95% increase from last year. In the third spot sits HCL's Shiv Nadar and vaccine tycoon Cyrus S Poonawalla claims fourth. Adani's surge in wealth can be attributed to the rise in share prices of various Adani Group entities, while Ambani's wealth also saw a notable 25% increase.
Indian billionaire and business magnate, Mukesh Ambani, has been facing fierce competition from Tata Group in the fast-fashion industry. As Tata's retail unit continues to soar in profits and expand its reach with trendy and affordable clothing, Ambani's Reliance Retail struggles to keep up. To combat this, Ambani has reportedly enlisted the help of Chinese e-commerce giant Shein, who is making a comeback after being banned in India. With the looming threat of a potential IPO, Ambani is determined to dethrone Tata as the leader in the fast-fashion market.
A rare and unseen picture of Anant Ambani's wife, Radhika Merchant, has surfaced online and fans can't stop gushing over her beauty. In the photos shared by Dabiri Couture, Radhika can be seen surrounded by her friends, dressed in stunning bridal attire. The photos were shared almost a month after their star-studded wedding in Mumbai. Anant and Radhika's wedding was a star-studded affair with A-list celebrities and even Hollywood stars present. Recently, the couple was seen supporting Indian athletes at the Paris Olympics 2024.
Yash Gupta, a key member of the technical team for the Ambani-Merchant wedding, provides a behind-the-scenes look at the sangeet ceremony on the Real Talk podcast. From Nita Ambani's involvement in the planning to Karan Johar's entertaining addition with a special "Koffee with Karan" episode featuring the couple, the lavish event was a star-studded affair. Guests were treated to electrifying performances by Justin Bieber, Badshah and Karan Aujla, as well as appearances by Bollywood A-listers like Salman Khan, Ranbir Kapoor, and Ranveer Singh, who brought their own unique energy to the festivities.
Newlyweds Anand and Radhika, who are part of the prominent Ambani family, were recently spotted at the 2024 Paris Olympics. Along with them are other newlyweds Isha and Anand, all of whom came together to enjoy the games. This comes after Nita Ambani's re-election in the International Olympic Committee and the news of India's potential bid for the 2036 Olympics. This shows the Ambani family's support and dedication towards sports.
Nita Ambani, one of the wealthiest women in India, grew up in a middle-class Gujarati family, and recently showcased her strong family ties at her son's lavish wedding festivities. Photos of her with her mother and sister have surfaced online, giving a glimpse into their close relationship amidst the glitz and glamour. The wedding reportedly cost an astounding amount, and the bride's family also belongs to a prominent Indian business family.