All articles tagged with #reliance industries
Jio Platforms filed draft papers for an IPO of up to 270 million shares, with proceeds to reduce debt at its subsidiary Reliance Jio Infocomm. Backed by Reliance Industries (~66%), Google (~7.7%), and Meta (~10%), the listing would rank among India's largest, amid mixed market sentiment and other major IPOs like NSE’s filing.
ProPublica reports that Mukesh Ambani’s Reliance Industries secretly backed the Texas oil refinery startup America First Refining with a nine-figure investment after Donald Trump Jr. acquired a stake, tying foreign funding to the Trump orbit and to policy wins for Reliance; the report notes ongoing questions about access and influence, while AFR and the Ambanis deny improper conduct.
President Trump announced a $300 billion plan to build the United States’ first new refinery in 50 years in Brownsville, Texas, funded by Mukesh Ambani’s Reliance Industries, to process 100% American shale oil and boost energy security and economic impact as global oil prices rise amid Middle East tensions.
Trump asserts that India's Reliance Industries will back the United States' first new oil refinery in 50 years, signaling a major energy investment and closer US-India economic ties.
President Donald Trump announced plans for the United States’ first new oil refinery in 50 years to be built in Brownsville, Texas, in a $300 billion deal backed by Reliance Industries, aimed at boosting jobs, energy production and national security, with no opening date yet announced.
India plans to reduce its direct imports of Russian crude oil from late November due to new US sanctions on Rosneft and Lukoil, leading major refiners like Reliance, Mangalore Refinery, and HPCL-Mittal to halt or reduce Russian oil purchases, with alternative sourcing and complex logistics expected to fill the gap.
The article discusses how Indian oil refineries, particularly Reliance Industries in Jamnagar, profit from Russian oil imports amidst geopolitical tensions, with U.S. sanctions targeting companies like Reliance due to their involvement in Russian oil trade, highlighting the complex interplay between India's energy needs and international politics.
Reliance Industries Ltd. has seen a $50 billion drop in market capitalization since July due to weakening earnings and an economic slowdown. The company's shares have underperformed the NSE Nifty 50 Index, marking the widest gap in a decade. Despite broader Indian markets performing well in 2024, Reliance's recent earnings missed estimates for the sixth consecutive quarter, primarily affecting its oils-to-chemicals business. The company offered a free share to investors but provided no updates on the listings of its telecom and retail units.
Anant Ambani, heir to India's richest man, married pharmaceutical heiress Radhika Merchant in a lavish ceremony attended by global celebrities and Indian dignitaries. The event, held at the 16,000-capacity Jio World Convention Center in Mumbai, featured extravagant fashion, performances by international stars, and traditional Indian rituals. The wedding, part of a seven-month celebration, showcased the Ambani family's immense wealth and influence.
Paramount Global is selling its 13% stake in Indian broadcasting unit Viacom18 to Reliance Industries for over $500 million, as part of its efforts to delever its balance sheet. The deal reflects Paramount's focus on licensing content and improving financials, while also indicating the tough market conditions in India. With the M&A rumor mill in full swing, Paramount's CEO has expressed openness to deals in order to create shareholder value, as the company navigates the competitive streaming space.
Paramount Global has sold its 13% stake in Indian TV and streaming company Viacom18 to Reliance Industries for $517 million, as part of efforts to strengthen its balance sheet. This comes after Reliance's merger with Disney's Star India and Viacom18. The sale is subject to regulatory approvals and completion of the joint venture involving Reliance, Viacom18, and Star Disney, with Paramount continuing to license its content to Viacom18 after the closing.
Paramount Global is selling its 13 percent stake in Indian media company Viacom18 to Reliance Industries for approximately $517 million. Reliance, which is already the majority shareholder in Viacom18, has recently formed a joint venture with Disney's Star India, with Reliance investing $1.4 billion into the JV. The deal is subject to regulatory conditions and the completion of the joint venture involving Reliance, Viacom18, and Star Disney. Despite the sale, Paramount will continue to license its content to Viacom18. This comes amid uncertainty about Paramount's future, with talks of a possible merger with Warner Bros. Discovery and a $30 billion offer from media mogul Byron Allen.
The pre-wedding celebrations of Anant Ambani and Radhika Merchant, the son of Reliance Industries' Chairman Mukesh Ambani, drew a star-studded guest list including Rihanna, Bill Gates, Ivanka Trump, Mark Zuckerberg, and several Bollywood celebrities. The extravagant event in India featured performances, drone shows, and lavish displays, with the Ambani family known for their opulent celebrations.
Reliance Industries and Walt Disney have announced the merger of their India TV and streaming media assets, creating an $8.5 billion entertainment powerhouse with Reliance holding a majority stake. The merger aims to address Disney's struggles in the Indian market, particularly in its streaming business, and will give Reliance significant bargaining power in advertising contracts. The combined entity will have 120 TV channels, two streaming platforms, and cricket rights, positioning it as a major player in India's media and entertainment sector.
Disney is merging its Star India service with Viacom18, backed by Reliance Industries, in an $8.5bn deal led by Asia's richest man, Mukesh Ambani. Reliance will inject $1.4bn to help the firm grow, creating one of the biggest media forces in India. The joint venture aims to address challenges in the Indian streaming market, where Reliance outbid Disney for rights to stream the popular India Premier League cricket tournament in 2022. The deal, expected to be completed by the end of this year or early next year, will see Disney owning a 37% stake, Viacom18 holding 47%, and Reliance having 16%.