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In December 2022, Reliance Industries Market cap stood at Rs.17,59,017.23 crore. [42] In February 2024, Reliance Industries Ltd. and The BharatGPT group announced that it will launch large language model (LLM), Hanuman's AI system in March 2024.
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 two sons. The Reliance ADA Group was formed in 2006 after the two brothers Mukesh Ambani and Anil Ambani, split Reliance Industries in December 2005. [3] [4] Anil Ambani got the responsibility of Reliance ...
Reliance Retail is an Indian retail company and a subsidiary of Reliance Industries.Founded in 2006, it is the largest retailer in India in terms of revenue. [5] Its retail outlets offer foods, groceries, apparel, footwear, toys, home improvement products, electronic goods, and farm implements and inputs.
In July 2023, it was spun-off via a demerger, [3] with shareholders of Reliance Industries receiving one equity share of Jio Financial Services for every share they held in Reliance. [6] Reliance Industries transferred Rs 15,500 crore of cash and liquid investments to Jio Financial Services as part of the demerger scheme.
In June 2010, Reliance Industries (RIL) bought a 95% stake in IBSL for ₹ 4,800 crore (equivalent to ₹ 110 billion or US$1.2 billion in 2023). Although unlisted, IBSL was the only company that won broadband spectrum in all 22 circles in India in the 4G auction that took place earlier that year. [ 17 ]
It is a subsidiary of Reliance Industries. Established in 2019, it acts as a holding company for India's largest mobile network operator , Jio , and other digital businesses of Reliance. [ 3 ] Since April 2020, Reliance Industries has raised ₹ 152,056 crore (US$18 billion) by selling a 32.97% equity stake in the company. [ 4 ]
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[50] [51] In late October 2023, it was reported that Disney was nearing a cash and stock deal with Reliance Industries for the sale of its operations in India, including a controlling stake in Disney Star. The assets Reliance would acquire are reportedly valued at around $7–8 billion and a transaction was to be announced as early as November ...