In this pandemic plunge resulting in lockdown and social distancing every company and business firms are striving hard to still be on the economic run, no matter how strong they are, they still are forced to restrategize their business plan. It has become challenging for many business firms to operate in this lockdown period with no such revenue growth and an ambiguous financial market but it seems that nothing can pin down the success of Ambani’s reliance industry. This man is turning out to be the king of this lockdown period.
The richest man in Asia has entered into a new wealth coalition. His net worth has jumped to $64.5 billion dollars, making him the only Asian to run a $150 billion company. He left behind Larry Ellison of Oracle corporation and France’s Francoise Bettencourt Meyers, who is now on 9th position. He has now joined the club of world’s 10 richest. It is said that Reliance industries has raised more than ₹1,68,818 crore in 58 days. The most fascinating fact is that Reliance has become the net debt free company which is incredible.
JIO the telecom sector of the Reliance Industries Ltd has achieved great heights during this period. People praised jio for giving the best connection even during the cyclone Amphan. There are companies who are eagerly waiting to buy shares in Jio. Till now 11 organisations have invested in RIL, Saudi Arabia’s Public Investment Fund is the 11th organisation to invest in RIL they invested ₹11,367 crore for which they are getting 2.32% of Jio’s share. It has been calculated that ₹1,12,993.5 crore has been invested by the other 10 companies.
According to the statement given by RIL the companies invested are:
Facebook, Silver Lake Partners, Vista Equity Partners, General Atlantic, KKR, Mubadala, Abu Dhabi Investment Authority, TPG, L Catterton and Public Investment Fund. It is believed that Jio can sell 20-25% of its shares during IPO (initial public offering). According to the sources Ambani will keep 50% of the shares with himself which is half the authority.
“I have fulfilled my promise to the shareholders by making Reliance net debt- free, much ahead of its original goal by achieving the status by the end of march 2021.” Said Mukesh Ambani.
The summation of investments by each company are as follows:
|SILVER LAKE PARTNERS||5,665.75||1.15%|
|VISTA EQUITY PARTNERS||11,367.00||2.32%|
|SILVER LAKE PARTNERS ADDITIONAL INVESTMENT||4,546.80||0.93%|
|ABU DHABI INVESTMENT AUTHORITY||5,683.50||1.16%|