Reliance Group

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Reliance Anil Dhirubhai Ambani Group
(Reliance ADAG)
Private
IndustryConglomerate
Predecessorcarved out from Reliance Industries
Founded10 July 2006; 13 years ago (10 July 2006)
FounderAnil Ambani
Headquarters
Reliance Centre, Santacruz (East), Mumbai
,
India
Key people
Anil Ambani
(Chairman)
Sateesh Seth
(Vice Chairman)
ProductsTelecom, financial services, construction, entertainment, Power, health care, aviation, Defense
RevenueIncrease US$15.4 billion (2012)[citation needed]
Increase US$2 billion (2012)[citation needed]
Increase US$3.5 billion (2012)[citation needed]
Total assetsIncrease US$43.6 billion (2016) "'" (PDF).
Number of employees
75,000 (March 2018)
SubsidiariesReliance Power
Reliance Communications
Reliance Infrastructure
Reliance Capital
Reliance Entertainment
Reliance Health
Reliance MediaWorks
Websiterelianceada.com

Reliance Anil Dhirubhai Ambani Group or Reliance ADA Group (ADAG) is an Indian conglomerate, headquartered in Mumbai, India. The company, which was formed after Dhirubhai Ambani's business was divided up, is headed by his younger son Anil Ambani.[1]

Reliance ADA Group has six listed companies. Reliance Power, Reliance Communications, Reliance Infrastructure, Reliance Capital, Reliance Entertainment and Reliance Health. The group provides telecom, financial services, construction, entertainment, power, health care, manufacturing, defence, aviation, and transportation services.

History[edit]

Reliance Commercial Corporation was founded by Dhirubhai Ambani in 1966 as a polyester firm. It got renamed as Reliance Industries on May 08, 1973. Reliance later entered into financial services, petroleum refining, power sector. By 2002 Reliance had grown into a U$15 billion conglomerate. After the death of Dhirubhai Ambani on 6 July 2002, Reliance was headed by his sons. The Reliance ADA Group was formed in 2006 after the two brothers Mukesh Ambani and Anil Ambani, split Reliance Industries in December 2005.[2][3] Anil Ambani got the responsibility of Reliance Infocomm, Reliance Energy and Reliance Capital. Reliance Group entered the power sector through Reliance Power, and the entertainment sector by acquiring Adlabs. In October 2010, Reliance power placed world's largest order worth $8.29 billion to Shanghai Electric Group to supply power equipment based on Supercritical steam generator technology.[4] On 28 October 2017, the group launched construction of a defense production unit in Mihan-SEZ region.[5] The unit will be part of a joint venture between Reliance Group, led by Anil Ambani, and its JV partner French major Dassault Aviation. The production at Mihan-SEZ will begin with components for the Rafale warplanes and Falcon business jet produced by Dassault. It is expected to fully assemble both the aircraft in the Nagpur unit in the coming years.

Subsidiaries

Major acquisitions[edit]

Date Firm acquired Renamed firm
May 2000 BSES Reliance Infrastructure
Oct 2003 FLAG Telecom, 207Mn$ Reliance Globalcom
July 2005 Metro Adlabs (51% stake), 74Mn$ Reliance Entertainment
Apr 2008 Lowry Digital USA, 7.5Mn$ Reliance Big Entertainment
May 2008 Vanco Reliance Globalcom
Apr 2010 Codemasters UK (50% stake) Zapak
Sept 2011 Bloomberg UTV (66% stake) Reliance Capital
Mar 2015 Pipavav Shipyard Reliance Infrastructure
Oct 2015 MTS India Reliance Communication


Current Issue against ADA Group[edit]

ADA group defaulted in payment to many vendors planning to go for insolvency [6]. ADA group is alleged to have multiple entity registered and made as vendor in other companies and favored them with cash and other benefits.[7] All listed companies belonging to ADA group nose dive in stock market over 90%[8]

References[edit]

  1. ^ "Reliance ADAG – Reliance Anil dmsumra 7Dhirubhai Ambani Group India – Reliance ADA Group Profile". Iloveindia.com. 21 July 2007. Retrieved 14 August 2010.
  2. ^ "Mukesh to double enterprise value to US$160 bn: Rediff.com Business". Business.rediff.com. 18 June 2010. Retrieved 14 August 2010.
  3. ^ "Reliance set to split between Anil and Mukesh Ambani – Central Government may intervene!". IndiaDaily. Archived from the original on 9 October 2008. Retrieved 14 August 2010.
  4. ^ "Reliance Power, Shanghai Electric ink $8.3 bln deal". in.reuters.com. Reuters. 28 October 2010. Retrieved 28 July 2016.
  5. ^ "Reliance-Dassault JV to start output in Q1 of 2018". /timesofindia.indiatimes.com. 28 October 2018.
  6. ^ "Reliance ADA group stocks plummet". The Indian Express. 5 February 2019. Retrieved 25 July 2019.
  7. ^ "At Least 122 Companies of Anil Ambani Group with Little or No Business Have the Same Address". Moneylife NEWS & VIEWS. Retrieved 25 July 2019.
  8. ^ "How will Anil Ambani-led Reliance Group look like in future?". www.businesstoday.in. Retrieved 25 July 2019.

External links[edit]