Mukesh Ambani, the world’s richest energy billionaire, is seeking to increase the share of his group’s revenue from new ventures in telecommunications and retail to as much as 40 percent, said a company official with knowledge of the plan.
Mumbai Metro One Pvt., a unit of billionaire Anil Ambani’s Reliance Infrastructure Ltd., will start Mumbai city’s first metro train tomorrow, Mint newspaper reported, citing two people with knowledge of the plan.
Billionaire Mukesh Ambani has picked P.M.S. Prasad, Reliance Industries Ltd.’s petroleum division chief, to help the company start telecommunications services, two people with direct knowledge of the matter said.
GMR Infrastructure Ltd., the operator of India’s biggest airport, is considering listing its airport and power generation units and selling shares to institutional investors as it seeks to reduce debt, people with knowledge of the matter said.
Inspectors from billionaire Anil Ambani’s electricity retailer BSES Rajdhani Power Ltd. entered a village near New Delhi last week hunting for tampered meters. Residents responded by beating them with iron rods.