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Anil Ambani RISES as value of his company goes up by Rs 24,000 crore, it is...
Anil Ambani had a noteworthy month, as Reliance Power became debt-free, and Reliance Infra reduced its debt by 80%.
Updated : Oct 06, 2024, 07:21 PM IST
 "Anil Ambani RISES as value of his company goes up by Rs 24,000 crore, it is...")
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Mukesh Ambani, one of the wealthiest individuals globally, faced a significant setback when his fortune took a hit following a recent crash in the Indian stock market. His net worth tumbled by USD 1.62 billion (approximately Rs 13,612 crore) within a matter of hours as the stock markets in India—both NSE and BSE—suffered continuous declines throughout the week. The Sensex plunged by over 4,000 points, wiping out Rs 16 lakh crore in investor wealth during this market turmoil.
In contrast, Anil Ambani saw a remarkable rise in fortunes as the stock prices of his companies, Reliance Power and Reliance Infrastructure, surged even amid the market crash. Reliance Power's stock price jumped from Rs 36 to Rs 53.64 in just 10 days, boosting the company's value by over Rs 4,000 crore. Similarly, Reliance Capital's market capitalization grew from Rs 16,000 crore to Rs 20,000 crore.
Anil Ambani had a noteworthy month, as Reliance Power became debt-free, and Reliance Infra reduced its debt by 80%. This financial restructuring led to a surge in investor interest and an influx of new orders for both companies. Furthermore, during a key board meeting, the company approved an Employee Stock Option Scheme (ESOS) in line with SEBI regulations.
Notable equity investors, including Sanjay Dangi and Sanjay Kothari, are set to invest Rs 925 crore in Reliance Power, which recently secured a project to harness 1,270 MW of solar and hydropower in Bhutan. Reliance Power also announced a special share issue of 46.20 crore shares worth Rs 1,524.60 crore, aimed at strengthening its operations in renewable energy.
