Sunday, July 08, 2007

Anil Ambani entered the trillionaire club

The race between Anil Ambani and his elder brother Mukesh just got hotter with Anil entering the trillionaire club under the personal wealth category. His personal riches through his personal shareholding in the companies in his group touched over Rs 100,000 crores on Friday.

Based on the closing price on Friday at the Bombay Stock Exchange, the value of Anil Ambani's personal shareholding were worth Rs 100,334 crores while the market capitalisation of his group soared to Rs 162,930 crores. Anil is now Rs 14,666 crores away from his brother's wealth. The wealth of Mukesh Ambani was over Rs 115,000 crores.

The share of the Anil Ambani group companies - Reliance Communication and Reliance Capital touched an all time high of Rs 551 and Rs 1,149 respec tively, resulting in the increase in wealth. The market capitalisation of flagship Reliance Communication was placed at Rs 112,657 crores, of which promoters holding is 67 per cent giving Anil Ambani a wealth of Rs 74,354 crores. Likewise, Reliance Capital market capitalisation was Rs 28,219 crores of which Anil Ambani's share was 53 per cent at a value of about Rs 15,000 crores. This along with the shares in Reliance Energy, Reliance Natural Resources Ltd and in Mukesh's Reliance Industries Ltd, Rs 2,856 crores took the combined wealth of Anil Ambani to over Rs 100,000 crores.

With the two brothers being the only two Indian trillionaires in the country, a third is waiting in the side lines. Mr K.P. Singh, chairman of the recently listed real estate developer DLF is close behind with the wealth of about Rs 85,000 crores in terms of market capitalisation of his share in the group company.

Mr Anil Ambani had this week told the shareholders of Reliance Capital at the annual general meeting about the scorching pace at which the group had grown after the demerger from the parent company RIL which stayed with Mukesh.

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