Anil Ambani stages a remarkable comeback, his net worth jumps to Rs…
GH News September 24, 2024 05:07 PM
Anil Ambanis fortunes have seen a positive turnaround recently. Over the past week his three companies  Reliance Power Reliance Infrastructure and Reliance Communications have experienced notable developments. Reliance Power received a large order boosting its shares while Reliance Infrastructure is moving swiftly toward becoming debt-free. Additionally Reliance Communications received favorable news from the National Company Law Appellate Tribunal (NCLAT).  In three days from September 18 to 20 the group announced it has turned into nearly zero debt and is also implementing long-term fund raising plans. Reliance Infra & Reliance Power Market Cap Surged The announcement to invest Rs 1100 crore by the promoters group in Anil Ambanis flagship company Reliance Infrastructure has further boosted the confidence of investors in the groups revival plans and its long-term growth story. Reliance Infrastructures market capitalisation by the end of this week surged nearly 50 per cent rising from Rs 8500 crore to Rs 12500 crore. Similarly Reliance Powers market capitalisation increased over 25 per cent moving from Rs 11500 crore to Rs 14600 crore. Anil Ambani’s Debt-Free Company   Reliance Infra announced a significant reduction in standalone external debt lowering it from Rs 3831 crore to just Rs 475 crore. This was achieved by clearing outstanding dues to prominent lenders such as Life Insurance Corporation of India (LIC) Edelweiss ARC ICICI Bank and Union Bank according to company filings. The move signals a robust financial recovery and enhances Reliance Infras financial flexibility. Reliance Infra Big Fund Raising Plans Reliance Infrastructures board approved fund raising of up to Rs 6000 crore via preferential issue and QIP while Reliance Power board is meeting on September 23 to consider and approve the fundraise via multiple routes.  Also Reliance Infra board approved a preferential issue to raise Rs 3014 crore increasing the stake of Risee Infinity Pvt Ltd a promoter group entity along with other investors such as Florintree Innovation LLP and Fortune Financial & Equities Services Pvt Ltd. The board also approved seeking shareholder authorization to raise an additional Rs 3000 crore via a qualified institutional placement. This will provide further capital to strengthen the balance sheet and invest in new growth opportunities. Anil Ambani Net Worth With these fund infusions Reliance Infras net worth is set to rise from over Rs 9000 crore to more than Rs 12000 crore according to the filings. As of February 2023 Times Of India’s report Anil Ambanis assets were reported to be around ₹20000 crore. (With Inputs from PTI)
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