Mumbai: Just a little over a year since its birth, Anil Dhirubhai Ambani Group (ADAG) has moved into the elite group of corporates that boast of more than Rs 1,00,000 crore market capitalisation, making its Chairman Anil Ambani the third richest person in the country.
ADAG has become the country's fifth biggest corporate group with a combined market cap of more than Rs 1,06,000 lakh crore after Tata Group, Reliance Industries, NTPC and Infosys, following a sharp increase in the M-cap of its group company Reliance Communications.
When contacted, an ADAG spokesperson confirmed that the group has achieved a market cap of over Rs 1,00,000 crore following the increase in Reliance Communications' total authorised share capital and market cap.
The market cap of the ADAG telecom venture Reliance Communications increased to Rs 70,866 crore, from about Rs 42,400 crore previously, as a result of an increase in its total number of shares, which the company spokesperson said was recently approved by the stock exchanges.
According to the data available with the stock exchanges, Reliance capital's current market cap stands at Rs 16,221 crore, Reliance Energy at Rs 14,703 crore, Reliance Natural Resources at Rs 2,995 crore and Adlabs Films at Rs 1,364 crore – taking the group's market cap to over Rs 1,00,000 crore.
The company's authorised share capital has increased following the completion of restructuring initiatives that included merger of some group companies since March.
However, while Anil Dhirubhai Ambani Group has a market cap of over Rs 1,00,000 crore on a consolidated basis, companies like ONGC, RIL, NTPC and Infosys have market cap of over Rs 1,00,000 crore on stand alone basis.
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