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In November 2009, Reliance Industries issued 1:1 bonus shares to its shareholders. [citation needed] In 2010, Reliance entered the broadband services market with acquisition of Infotel Broadband Services Limited, which was the only successful bidder for pan-India fourth-generation (4G) spectrum auction held by the government of India.
An issue of bonus shares is referred to as a bonus share issue. A bonus issue is usually based upon the number of shares that shareholders already own. [ 2 ] ( For example, the bonus issue may be " n shares for each x shares held"; but with fractions of a share not permitted.)
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 Natural Resources Limited is an Indian energy company involved in sourcing, supply and transportation of gas, coal and liquid fuels. The company was incorporated on 24 March 2000 and went public on 25 July 2005. [1] It is a part of the Reliance Anil Dhirubhai Ambani Group. Reliance Natural Resources has merged with Reliance Power. [2]
In 2021, Reliance Retail acquired a 66% stake in local search company Justdial for ₹ 5,710 crore (US$770.58 million). [55] 9 Milkbasket Milkbasket is a subscription-based daily micro-delivery service. In October 2021, Reliance Retail Ventures acquired a 96.49% stake in Milkbasket. [56] 10 Clovia Clovia is an Indian innerwear and loungewear ...
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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.
The acquisition occurred by maneuvering a complex deal through the Independent Media Trust (IMT), set up by Reliance Industries to issue a loan for the debt encumbered Network18 in 2012. [26] [47] It resulted in Reliance receiving 78% of the shareholding, [47] and as of 2019, the conglomerate holds 73.16% of the shares. [80]