Billionaire Mukesh Ambani, chairman of Reliance Industries, has opted to invest heavily into Coal India IPO. India’s largest private company, Reliance Industries has placed a bid to acquire Rs 6000 Crore ($1.4 Billion) worth of shares in the company. The interest that Reliance has taken in this IPO has sent investors clamoring to get a piece of the action. It has not been stated at the time of this writing how many shares Reliance will be allowed to purchase in Coal India. Franklin Capital, Janus Fund, Franklin Templeton, ICICI, and Capital International have also aggressively bid for these coveted opening shares in the company.
Reliance Industries, since it was taken over by Mukesh Ambani, has risen to become the largest employer in India. They are a diversified company that began in simple textiles and now operate a refinery that produces nearly 700,000 barrels a day. They actively produce petrochemicals, produce power and are integrated into port and infrastructure projects. Reliance Industries also has the largest communication and information initiative under the name Reliance Communications Limited. The company has also expanded their original textile production to now include their retail clothing line Vimal. A recent addition to their line of products is the fresh food line. Reliance entered the fresh foods market and continued to expand into the non-veg market under the name Delight Reliance Retail.
Mukesh Ambani was once considered the richest man in the world, but changes in the value of the Indian Rupee has made him drop to the second. He is believed to be worth about 63 billion US dollars and has surpassed US billionaire Bill Gates in value. Currently, he is the richest man in Asia. One of the most notable things that Mukesh Ambani is noted for is his elaborate home. This home, named Antilia, is a 27 story structure in Mumbai that is estimated to be worth a billion dollars. The home is run by a staff of 600 people and includes things such as multiple swimming pools, a 5 story garage and a private movie theater. The home is used exclusively by Billionaire Mukesh Ambani , his wife and their three children.
Reliance Industries has deep pockets, with investments into other aspects of the Indian economy including equities, debt and select mutual funds. It is believed that because they are so well financed that their investment into Coal India will be a long standing investment as opposed to a quick turn around for profit like many investors.
Nearly 1 of every 4 investors in India holds stock in Reliance. With 3 million shares available, this stock is one of the most widely held stocks in the world.
The most coveted land for sale in India includes land in the outskirts of bigger cities, in smaller town and in rural areas.
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