R-Power could make Ambani Jr the richest Indian
The much-awaited listing of Reliance Power (R-Power) will catapult Anil Ambani to the top of the charts in terms of personal wealth.
By TNN |
NEW DELHI: The much-awaited listing of Reliance Power (R-Power) will catapult Anil Ambani to the top of the charts in terms of personal wealth. The listing even at the issue price of Rs 450 will take up the wealth of Anil Ambani to more than $47 billion. This will be about $2 billion more than the wealth of his brother Mukesh Ambani, based on Friday���s closing price.
If the issue lists at over Rs 500, the wealth of Ambani Jr may even cross that of steel tycoon LN Mittal.
Anil Ambani holds close to 45% stake in Reliance Power, with another 45% being held by Reliance Energy. REL will see a gain of about Rs 18,000 crore, and there may be a jump in the price of this stock also, adding to the personal wealth of Ambani Jr.
From its other group companies, Reliance Communications adds about $22 billion to his wealth, whereas Reliance Energy and Reliance Capital add close to another $10 billion. Reliance Power will become the second-largest company in his personal portfolio.
If the issue lists at over Rs 500, the wealth of Ambani Jr may even cross that of steel tycoon LN Mittal.
Anil Ambani holds close to 45% stake in Reliance Power, with another 45% being held by Reliance Energy. REL will see a gain of about Rs 18,000 crore, and there may be a jump in the price of this stock also, adding to the personal wealth of Ambani Jr.
From its other group companies, Reliance Communications adds about $22 billion to his wealth, whereas Reliance Energy and Reliance Capital add close to another $10 billion. Reliance Power will become the second-largest company in his personal portfolio.
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Even if the price of Reliance Power falls to Rs 387, Anil Ambani���s wealth will still be $45 billion, same as that of his brother. Anil Ambani will stand second on the wealth chart only if the price falls to less than Rs 387, and there is no change in price of other companies.
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