Reliance Group promoters’ wealth swells in two months

As shares of Reliance Group companies such as Reliance Infrastructure Ltd and Reliance Power Ltd soar, promoter Anil Ambani, who last year told a British court that his net worth was zero, has seen the value of shares held by him, his family and other promoter entities, more than double in the last two months.

Promoters’ wealth in five Ambani-backed listed firms has jumped by more than 160% from ₹117 crore two months ago to ₹309 crore, data from corporate database Capitaline showed. This is also a 688% gain from ₹39.28 crore a year ago. Promoter holdings in Reliance Power, Reliance Communications, Reliance Infra and Reliance Capital have seen their value climb by 300%, 225%, 205% and 193%, respectively, in the past two months.