Latest news with #Reliance-owned
Mint
10-07-2025
- Business
- Mint
Mukesh Ambani's Reliance-owned Alok Industries to declare Q1 results 2025 on THIS date
Mukesh Ambani's Reliance-owned Alok Industries announced on Thursday that the company will be declaring its financial results for the quarter ending on June 30, 2025 on Thursday, July 17. Alok Industries share price fell over 2.87 per cent in Thursday's trading session to ₹ 21.35 apiece on NSE. The stock has ascended over 3 per cent in a month and 9.90 per cent in six months In 2020, Reliance Industries, in partnership with JM Financial Asset Reconstruction, acquired Alok Industries via an auction under the insolvency and bankruptcy code, organized by lenders aiming to recover dues. By the end of the March quarter, RIL owned 40 per cent of the company, while JM Financial ARC held a 34.99 per cent stake. In an exchange filing, the company said that the board of directors will meet on Thursday, July 17 to consider and approve June quarter results for FY26. ' We wish to inform you that pursuant to Regulation 29 and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 a meeting of the Board of Directors of the Company is scheduled to be held on Thursday, July 17, 2025 inter-alia, to consider and approve the Standalone and Consolidated Unaudited Financial Results of the Company for the quarter ended June 30, 2025,' the company said in the filing. Founded in 1986 and based in Mumbai, Alok Industries is a fully integrated textile manufacturer with a significant footprint in both cotton and polyester segments. In the cotton segment, the company's operations span the entire value chain—from spinning and weaving to processing, producing finished fabrics, bedsheets, towels, and garments. Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
India.com
18-06-2025
- Business
- India.com
This man was Mukesh Ambani's first boss, his sons are highest-paid employees of Reliance, Dhirubhai Ambani was his...
Dhirajlal Hirachand Ambani, best known as Dhirubhai Ambani, was the founder of Reliance Industries. He went from being an errand boy to one of the best businessmen in the world. Dhirubhai Ambani's story is truly one of rags to riches and inspires many people today. Dhirubhai was not only a businessman; he was recognized for his kindness and humility. Dhirubhai and his wife, Kokilaben Ambani, remained down-to-earth and true to their roots after being incredibly successful. Kokilaben and Dhirubhai Ambani have four children: Mukesh Ambani, Anil Ambani, Deepti Salgaocar, and Neena Kothari. While many people recognize these names as household names, there are members of the Ambani family who choose to keep a low profile and stay away from the public eye and spotlight. One such member is Dhirubhai Ambani's elder sister, Trilochna Ben. Dhirubhai Ambani was born to Hirachand Gordhanbhai Ambani, who was a schoolteacher, and Jamnaben Ambani. He was born in the small town of Chorwad, in the state of Gujarat, with four siblings — a sister, Trilochna Ben, and brothers Ramaniklal, Jasuben, and Natubhai. While Dhirubhai Ambani gained fame as the founder of Reliance Industries, the family successfully supported him while remaining out of the limelight. His elder sister, Trilochna Ben, has been completely discreet; however, her family has contributed to Reliance as well. When Rasiklal Meswani was alive, he was one of the directors of Reliance Industries, and in honour of his legacy, his sons — Nikhil R. Meswani and Hital R. Meswani — are now the executive directors at Reliance Industries. Therefore, the family is intimately connected to the company Dhirubhai built. Nikhil R. Meswani, son of Rasiklal Meswani, one of the Founder Directors of the Company, is primarily responsible for the petrochemicals division and has made major contributions towards Reliance becoming a global leader in petrochemicals. Between 1997 and 2005, he handled the refinery business of the Company. In addition, he continues to shoulder several other corporate responsibilities, such as Corporate Affairs and Group Taxation. Hital R. Meswani is on the Board of the Company as Whole-time Director, designated as Executive Director, since August 4, 1995. His overall responsibility spans the Petroleum Refining and Marketing Business, Petrochemicals Manufacturing, and several corporate functions of the company, including Human Resources Management, Information Technology, Research & Technology, and Capital Projects Execution. Rasiklal Meswani's elder son, Nikhil R. Meswani, came to Reliance Industries in 1986 and by July 1988, was appointed to the board as an Executive Director. Nikhil played the role of leading Reliance's petrochemicals business and helped the company emerge as a global player in that space. He is also involved in the affairs of Reliance-owned Indian Premier League (IPL) cricket franchise Mumbai Indians, Indian Super League (ISL), and other sports initiatives of the Company. Rasiklal's younger son, Hital R. Meswani, is responsible for the entire operations of Reliance's Petroleum Refining and Marketing business. He is on the Board of the Company as Whole-time Director, designated as Executive Director, since August 4, 1995. His overall responsibility spans the Petroleum Refining and Marketing Business, Petrochemicals Manufacturing, and several corporate functions of the company, including Human Resources Management, Information Technology, Research & Technology, and Capital Projects Execution. Interestingly, very few people know that Rasiklal Meswani was Mukesh Ambani's first boss. When Mukesh joined Reliance, he worked with Rasiklal. In an interview with Rediff long ago, Mukesh Ambani talked about his experience of leading a team under Rasiklal's guidance, and lessons learnt in business in those early years of his career. 'This was in 1981. Rasikbhai Meswani, Nikhil and Hital's father, was my first boss. The management style used to be very open. We could walk into each other's cabin, join in a meeting or get involved in any discussion. My father encouraged it. But when I joined Reliance formally, he said you need to have a boss and I was put under Rasikbhai's charge. He was running our polyester business, which consisted of importing polyester fibre, texturising it and selling it to textile mills. It was a new business compared to our own textile mill at Naroda (near Ahmedabad) that brought in almost 60%-70% of the profits,' Mukesh Ambani was quoted as saying by Rediff.
Hindustan Times
04-06-2025
- Business
- Hindustan Times
Vijay Mallya recalls picking Virat Kohli for RCB as a youngster: ‘Remarkable he stayed for 18 years'
Fugitive businessman Vijay Mallya was in a celebratory mood as Royal Challengers Bengaluru (RCB) lifted the IPL trophy after 18 long years. RCB earned a place in the history books after trouncing Punjab Kings in the final of the 18th season of IPL to bring the trophy home for the first time in 18 years. In a post shared on the social media platform X, the former owner of RCB recalled picking Virat Kohli for the team at its inception and said it was his dream to bring the IPL trophy to Bengaluru. 'When I founded RCB it was my dream that the IPL trophy should come to Bengaluru,' wrote Vijay Mallya. 'I had the privilege of picking the legendary King Kohli as a youngster and it is remarkable that he has stayed with RCB for 18 years. 'I also had the honour of picking Chris Gayle the Universe Boss and Mr 360 AB DeVillers who remain an indelible part of RCB history. 'Finally, the IPL trophy arrives in Bengaluru. Congratulations and thanks again to all who made my dream come true. RCB fans are the very best and they deserve the IPL trophy. Ee Sala Cup Bengaluru baruthe!' he wrote. After the establishment of IPL, an auction was held in January 2008 which represented eight different cities in India. The Bangalore franchise was acquired by Vijay Mallya. Mallya paid $111.6 million for the franchise, making it the second most expensive - just behind Reliance-owned Mumbai Indians. RCB acquired several high-profile Indian and international players, including Jacques Kallis, Anil Kumble and Zaheer Khan. In the second round of the auction, they also signed India under-19 World Cup-winning captain Virat Kohli. He was yet to turn 18. In nearly two decades with RCB, Virat Kohli has of course gone from strength to strength. His words after the IPL 2025 win give a glimpse into what the win means for him. "This win is as much for the fans as it is for the team. It's been 18 long years. I've given this team my youth, prime and experience. I've tried to win it every season, gave it everything I have,' said Kohli. 'To finally have it is an unbelievable feeling. Never thought this day would come, I was overcome with emotion after the last ball was bowled.'
Time of India
02-06-2025
- Business
- Time of India
Furniture retailer Pepperfry raises Rs 43 crore from existing investors
Omnichannel furniture and home goods company Pepperfry has raised Rs 43.3 crore from existing investors Norwest Venture Partners, Goldman Sachs, General Electric Pension Trust, Growth Equity Opportunity Fund, and Panthera Growth Partners, among others. General Electric Pension Trust led the round with an investment of Rs 21.5 crore, followed by Norwest Venture Partners with Rs 8.5 crore and Panthera with Rs 6.4 crore. The remainder was contributed by other investors, according to the company's filings with the Registrar of Companies (RoC). The company issued around 5.6 lakh compulsorily convertible preference shares with a face value of Rs 775 each on a private placement basis. In its last funding round, the Mumbai-based company had raised $23 million in 2022 from the same group of investors. Prior to that, it had secured $45 million in debt funding in 2021. News website Entrackr first reported the latest development. Pepperfry had postponed its planned initial public offering (IPO) last year after engaging with bankers, as it was focusing on growth and profitability, cofounder Ashish Shah had told ET in an earlier interaction. The company, founded in 2012, had converted into a public entity in 2022 as part of its IPO preparations, which aimed to raise $250–300 million. In FY24, Pepperfry reported a 30.6 per cent year-on-year decline in operating revenue to Rs 188.9 crore. However, it narrowed its losses by 37.4 per cent to Rs 117.4 crore, from Rs 187.6 crore in the previous year. The company competes with ecommerce platforms such as Amazon India and Flipkart, as well as Reliance-owned Urban Ladder, and generates most of its revenue through commissions on product sales. Pepperfry has also been expanding its home décor segment and has onboarded multiple direct-to-consumer brands to strengthen its portfolio.
Time of India
02-06-2025
- Business
- Time of India
Furniture retailer Pepperfry raises Rs 43 crore from existing investors
Omnichannel furniture and home goods company Pepperfry has raised Rs 43.3 crore from existing investors Norwest Venture Partners, Goldman Sachs, General Electric Pension Trust, Growth Equity Opportunity Fund, and Panthera Growth Partners, among others. General Electric Pension Trust led the round with an investment of Rs 21.5 crore, followed by Norwest Venture Partners with Rs 8.5 crore and Panthera with Rs 6.4 crore. The remainder was contributed by other investors, according to the company's filings with the Registrar of Companies (RoC). The company issued around 5.6 lakh compulsorily convertible preference shares with a face value of Rs 775 each on a private placement basis. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now In its last funding round, the Mumbai-based company had raised $23 million in 2022 from the same group of investors. Prior to that, it had secured $45 million in debt funding in 2021. News website Entrackr first reported the latest development. Live Events Pepperfry had postponed its planned initial public offering (IPO) last year after engaging with bankers, as it was focusing on growth and profitability, cofounder Ashish Shah had told ET in an earlier interaction. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories The company, founded in 2012, had converted into a public entity in 2022 as part of its IPO preparations, which aimed to raise $250–300 million. In FY24, Pepperfry reported a 30.6% year-on-year decline in operating revenue to Rs 188.9 crore. However, it narrowed its losses by 37.4% to Rs 117.4 crore, from Rs 187.6 crore in the previous year. The company competes with ecommerce platforms such as Amazon India and Flipkart, as well as Reliance-owned Urban Ladder, and generates most of its revenue through commissions on product sales. Pepperfry has also been expanding its home décor segment and has onboarded multiple direct-to-consumer brands to strengthen its portfolio.
