• About
  • Contact
Thursday, January 21, 2021
Next Big Brand
  • .
  • News
  • Internet
  • Startup
  • OTT
  • Agency
  • Industries
  • FMCG
  • Automobile
  • Retail
  • Tech
  • Case Study
  • Interview
No Result
View All Result
Next Big Brand
Home Industries

Anil Ambani in Financial Trouble, Needs $2 Billion to Survive

Sourav by Sourav
July 1, 2019
in Industries, New posts
2 min read
0
Anil Ambani

Anil Ambani in Financial Trouble, Needs $2 Billion to Survive

Share on FacebookShare on Twitter

Of all the different verticals of Reliance that is under Anil Ambani’s control, Reliance Capital has been the only business that was saved from entering the fray. It had almost doubled its business over the last 5 years and had been standing on its own two feet. However, the latest news is the Reliance Capital is trying to raise $2 Billion in assets as it has seen a significant drop in its capital. According to CARE ratings, their capital has come down to ₹11 Crore. Reliance Capital is now trying to raise the money by selling off assets that are worth that amount.

Reliance Capital is facing a debt of close to $ 252 million and a unit belonging to Moody Investors Service, along with a few other companies, have slashed the company’s ratings due to this. There are many reasons why they have done this, and some of them include the fact that Reliance Capital has decreasing liquidity, various holdups in their asset sales, and even risks on loans to their unprofitable affiliates.

Anil Ambani
Anil Ambani in Financial Trouble, Needs $2 Billion to Survive

Image Source – Economic Times

According to Aditya Consulting, asset disposal is a very important thing that Reliance Capital must undertake in order to survive. Matthew Antony, who is a managing partner at the same firm, has commented on this issue. He has said “Unless some strategic infusion of long-term equity comes into the company, the day when Reliance Capital falls into a liquidity crisis isn’t too far,”

Reliance Capital did inform exchanges about their short term debt of ₹ 950 crores. Their credit rating dropped with this from A+ to ‘credit watch’. The following are some of the asset disposal delays that the company has been saving for a while now:

Asset Expected Proceeds (in billion rupees) Sale Timeline
Radio business 17 Announced in November 2016, delayed and
expected by June 2019
Reliance General Insurance’s IPO 30 Rescheduled from December 2018 to June 2019
Reliance Nippon Life Asset Management 70 Selling 42.9 percent stake was planned for
May 2019 but likely by June
Prime Focus stake undisclosed Expected by May 2019 instead of April
Mahindra First Choice undisclosed Expected by June 2019 instead of April
Media properties undisclosed No indication

Anil Ambani has been facing quite a few issues and was recently bailed out by his brother due to unpaid debt.

Previous Post

PepsiCo Backing Out Of Suing Farmers

Next Post

Big Four Audit Firms have been banned from practicing law

Sourav

Sourav

Excellent story-teller, with a background in SEO and Digital Marketing. Likes to write and give form to opinion and incidents.

Related Posts

Jeff Bezos and Elon Musk Increased their Net Worth by $217 Billion in Pandemic Year
New posts

Jeff Bezos and Elon Musk Increased their Net Worth by $217 Billion in Pandemic Year

January 4, 2021
Bewakoof: Entrepreneurship Journey of two IITians to Leading Quirky Fashion Apparels
Case Study

Bewakoof: Entrepreneurship Journey of two IITians to Leading Quirky Fashion Apparels

December 28, 2020
How Ed-Tech Startups Took benefit of Pandemic
Case Study

How Ed-Tech Startups Took benefit of Pandemic

December 25, 2020
Postman: Journey of a Side Project to the Leading API Platform
Case Study

Postman: Journey of a Side Project to the Leading API Platform

December 24, 2020
Da Milano: Growing in Fashion Market with Affordable Price
Case Study

Da Milano: Growing in Fashion Market with Affordable Price

December 22, 2020
Vedantu: the Rise of an Online Ed-tech Start-Up
Case Study

Vedantu: the Rise of an Online Ed-tech Start-Up

December 17, 2020
Next Post
Big 4

Big Four Audit Firms have been banned from practicing law

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

RECOMMENDED NEWS

Reliance Industries RIL Biggest Brand Market cap Rights Issue Donates Market Capitalization- Next Big Brand

RIL Rights Issue Of ₹53,124 Crore Was Oversubscribed 1.59 Times

8 months ago
stakes in reliance jio - next big brand

Facebook in Talks to Acquire Stake in Reliance Jio

10 months ago
BigBasket GMV- Next Big Brand

BigBasket Hits $1 Billion GMV Mark, Delivers 3.5 Lakh Orders Daily

7 months ago
WeWork CEO- Next Big Brand

Real Estate Veteran Sandeep Mathrani Is New CEO Of WeWork

12 months ago

FOLLOW US

  • 22.4k Fans

BROWSE BY TOPICS

2018 League amazon Amazon Great Indian Sale Amazon Prime Apple Apple Inc Automobile Industry Balinese Culture Bali United Budget Travel Champions League Chopper Bike Doctor Terawan facebook Facebook app future group hotstar Indian OTT Platforms Indian Smartphone Market Istana Negara Jio Market Stories Maruti Suzuki National Exam Netflix Netflix India Netflix Originals oppo OTT OYO Realme Reliance Industries Limited Reliance Jio RIL Samsung Tata Motors Tiktok TikTok India TikTok Videos Visit Bali Vivo whatsapp Xiaomi Xiaomi India YouTube
Next Big Brand

We Talk About Brands

Follow us on social media:

Recent News

  • Cred Founder Kunal Shah Invests in the new Venture of One Plus Co-founder Carl Pie
  • SEBI Approved Much Talked Future Group-Reliance Industries Deal
  • Tata Group is All Set to Acquire 60% stake in BigBasket

Instagram

Follow Me!

Latest News

Cred Founder Kunal Shah Invests in the new Venture of One Plus Co-founder Carl Pie

Cred Founder Kunal Shah Invests in the new Venture of One Plus Co-founder Carl Pie

January 21, 2021
SEBI Approved Much Talked Future Group-Reliance Industries Deal

SEBI Approved Much Talked Future Group-Reliance Industries Deal

January 21, 2021
  • About Us
  • Privacy Policy
  • Terms and Conditions
  • Disclaimer
  • DMCA Policy
  • Our Team
  • Contact Us
  • Sitemap

© 2019 NBB. All Rights Reserved.

No Result
View All Result
  • .
  • News
  • Internet
  • Startup
  • OTT
  • Agency
  • Industries
  • FMCG
  • Automobile
  • Retail
  • Tech
  • Case Study
  • Interview

© 2019 NBB. All Rights Reserved.

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.