Surprise Revelation: Mukesh Ambani is Not RIL’s Largest Promoter Shareholder
Surprise Revelation: Mukesh Ambani is Not RIL’s Largest Promoter Shareholder
While Mukesh Ambani’s wealth is well-known, it’s his mother Kokilaben Ambani who holds the largest individual stake in Reliance Industries Limited.
Mukesh Ambani, renowned as India’s wealthiest individual with a reported net worth of $123.7 billion, owes much of his fortune to Reliance Industries Limited (RIL), the conglomerate established by his late father, Dhirubhai Ambani. However, contrary to popular belief, Mukesh Ambani is not the largest individual shareholder in RIL.
As of June 30, 2024, the Ambani family collectively owns 5,60,01,426 shares of RIL. This includes Mukesh D. Ambani, Nita M. Ambani, Isha M. Ambani, Akash M. Ambani, and Anant M. Ambani, each holding 80,52,021 shares. At the current market price of approximately Rs 3,018.60 per share (as of July 26, 2024), this translates to over Rs 2430 crore for each family member, though this value fluctuates with the market.
Interestingly, the largest individual shareholder in the promoter group is Kokilaben Dhirubhai Ambani, the wife of the late Dhirubhai Ambani and Mukesh Ambani’s mother. Kokilaben holds a substantial 1,57,41,322 shares of RIL. At the current market price, her shares are valued at over Rs 4751 crore.
The recent quarterly results of RIL revealed a 5% year-on-year decline in consolidated profit, which stood at Rs 15,138 crore for the April-June quarter of 2024-25. According to the company’s management, this decline was mainly due to challenges in the oil-to-chemicals (O2C) segment and increased depreciation expenses, which offset gains in the consumer (retail and telecom) and oil and gas upstream sectors.
RIL’s total capital expenditure for the quarter ending June 30, 2024, amounted to Rs 28,785 crore ($3.5 billion). The company’s net debt at the end of the quarter was Rs 1.12 lakh crore.
On Friday, RIL’s stock closed at Rs 3017.85 per share, reflecting a 1.18% decrease from the previous close of Rs 2982.60 per share. Despite a 5.50% decline over the past two weeks, the stock has shown strong performance over the last six months, gaining 11.35% as of July 26, according to BSE data.
This revelation about Kokilaben Ambani’s significant stake underscores the pivotal role she continues to play in the legacy and financial structure of Reliance Industries Limited.
