India's wealthiest man owns 44 percent of Reliance Industries, operator of the world's largest oil refinery complex and owner of the nation's biggest natural gas field. Through Reliance, he plans to build the country's first 4G wireless network in 700 cities. Ambani also owns Reliance Gas Transportation and a 27-story Mumbai home worth $500 million.
Billionaire Mukesh Ambani’s Reliance Industries Ltd. is seeking $1.75 billion in overseas loans even as the rupee’s plunge to a record sends foreign-currency borrowings by Indian companies to a three-year low.
Reliance Industries Ltd., operator of the world’s biggest oil refinery complex, plans to borrow $1.75 billion by mid-August to refinance debt and fund capital expenditure, according to two people familiar with the matter.
Reliance Industries Ltd.’s profit beat analyst estimates for the fifth straight quarter as the rupee’s plunge to a record boosted dollar-denominated earnings at the operator of the world’s biggest oil refinery complex.
Reliance Industries Ltd.’s billionaire Chairman Mukesh Ambani plans to spend 1.5 trillion rupees ($26 billion) over the next three years to expand business ranging from gas production to telecommunications.