Mumbai: Anil Ambani’s fortunes are undergoing a sweeping transformation, marked by falling debt and rising stock prices. After battling financial difficulties for nearly six years, his companies are now gaining momentum. This positive shift is driven by reducing debt burdens and securing fresh orders, enabling the conglomerate to regain the market’s trust.
The most significant turnaround for Anil Ambani came with two of his major companies, Reliance Power and Reliance Infrastructure. These companies made headlines as their stock prices surged. Reliance Infrastructure stocks skyrocketed by 60%, reaching Rs. 336.20, while Reliance Power also witnessed significant growth. Both companies have also secured approval to raise Rs. 2,930 crore through Foreign Currency Convertible Bonds (FCCBs).
The conglomerate has repaid a substantial portion of its debt, nearly 80%, with key deals such as the Rs. 780 crore agreement with the Damodar Valley Corporation playing a pivotal role in this achievement. This helped reduce the company’s debt from Rs. 3,381 crore to Rs. 451 crore. Meanwhile, Reliance Power has also regained strength, supported by new orders, including a 500 MW battery storage system contract in collaboration with BSSS.
The Role of Family: Jai Anmol and Jai Anshul Ambani
Anil Ambani’s two sons, Jai Anmol Ambani and Jai Anshul Ambani, have played crucial roles in the company’s turnaround. Particularly, Jai Anmol has been instrumental in the financial revival. Starting his career in 2014, he became the Executive Director of Reliance Capital by 2017. His strategic moves, such as convincing Japan’s Nippon firm to increase its stake in Reliance Nippon Life Management Company, contributed significantly to the group’s recovery.
Jai Anmol’s involvement in launching two new ventures, Reliance Life Insurance and Reliance Capital Asset Management, has further strengthened the company. His contribution has reflected in his personal net worth, which now stands at 2,000 crores. Recently, the Ambani family launched a new subsidiary, Reliance Jai Properties Pvt Ltd (RJPPL), signalling further diversification and growth for the group.
With falling debt and rising stock prices, Anil Ambani’s companies are on a path to recovery. His sons’ involvement, particularly Jai Anmol, has been crucial in steering the conglomerate back on track. As new orders continue to roll in and debt shrinks, Anil Ambani’s fortunes seem to be changing for the better.
Anil Ambani’s fortunes are changing with a significant reduction in debt and rising stock prices. This turnaround, driven by fresh investments and family involvement, signals a new chapter for his companies. Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
