Known for disrupting businesses he enters, Ambani’s telecommunications unit has become the dominant player in the Indian market while his digital operation has expanded with backing from investors including Facebook Inc. At the same time, Saudi Aramco is looking to acquire a stake in Reliance’s oil refining business in a deal said to be worth as much as $25 billion.
Ambani this year unveiled an ambitious plan to invest $10 billion in clean energy, marking a new pivot for India’s most valuable company. The goal aligns with Prime Minister Narendra Modi’s ambitions to combat climate change and slash imports into the world’s third-biggest oil consumer.
Reliance shares surged 4.1 per cent to a record in Mumbai Friday.
With inputs from NDTV