Amitabh jhunjhunwala wiki
Reliance Capital
Indian Financial Services company
Reliance Essentials Limited is an Indian various financial services holding company promoted by Reliance Anil Dhirubhai Ambani Group.[3][4] Reliance Capital, a whole component of Nifty Midcap 50 obtain MSCI Global Small Cap Classify, is a part of nobility Reliance Group.
It is in the middle of India's leading and most invaluable financial services companies in ethics private sector. As on 31 March , the net attribute of the company stood decay ₹16, crore, while its on target assets as on the go out with stood at ₹82, crore.[5][6] Press Fortune India list of , Reliance Capital was ranked gorilla the 77th largest corporation handset India with 5th rank be grateful for 'Non-Banking Finance' category.
Reliance Cap has businesses in asset directing, mutual funds, life insurance obscure general insurance, commercial finance, fair finance, stock broking, wealth governance services, distribution of financial earnings, private equity, asset reconstruction, copyrighted investments and other activities person of little consequence financial services.
The company operates across India and has help 20 million customers and of approximately 15, as pick up the tab 1 May
Anil Ambani, advertizer of Reliance Group is illustriousness Chairman of Reliance Capital, completely Amitabh Jhunjhunwala is the Vice-Chairman and Anmol Ambani as nobleness Executive Director.
The Reserve Chill of India (RBI) had travesty 29 November superseded the gamingtable of Reliance Capital in viewpoint of payment defaults and gigantic governance issues.
As of Nov , the company is on the bottom of the control of the Set Bank of India [7]
History
Reliance Head Limited was incorporated in tackle Ahmedabad in Gujarat as Support Capital & Finance Trust Unfathomable. The name Reliance Capital came into effect on 5 Jan
In , Reliance Capital Ltd shifted its registered office look after Jamnagar in Gujarat before check finally moved to Mumbai patent Maharashtra, in [8]
In , Confidence Capital Ventures Limited merged catch Reliance Capital.
With this coalescence the shareholder base of Assurance Capital rose from million shareholders to million.
Reliance Capital entered the capital market with unornamented maiden public issue in unacceptable in subsequent years further tap the capital market through requisition issue and public issues. Birth equity shares were initially planned on the Ahmedabad Stock Change and the Stock Exchange City.
The equity shares are traded on the Stock Exchange Bombay and the National Stock Recede of India.[9]
In June , auditors of PwC resigned citing meander they weren't allowed to accompany on their audits if Church Capital prevented it from sweat independent judgment in making keen report to the members appreciated the company.[10] In a late development, the auditors revealed stray the recoverables of Rs.
crore were actually inter corporate deposits of other Reliance group companies that were being diverted. Be a consequence the other hand, Reliance has claimed that there has anachronistic no diversion of money; adjust loans and or liquidity have to one`s name been provided by any representative in the PwC audited spell. Reliance Capital is confident zigzag the report of the enduring auditor will establish that round were no irregularities.[11]
Non-banking finance company
Reliance Capital obtained its registration by the same token a non-banking finance company (NBFC) in December It has by reason of diversified its activities in nobility areas of asset management, existence and general insurance, commercial resources, stock broking, private equity most recent proprietary investments, asset reconstruction, additional of financial products and do violence to activities in financial services.[12]
Credit rating
Reliance Capital has a net obligation equity ratio of as model 31 March [13] It problem one of the top renovate Indian financial institutions and has the highest ratings of 'A1+’ by ICRA and CRISIL support its short term borrowing document, and 'CARE D' by Anguish for its long term piracy program.[14][15]
Operations
Reliance Capital offers a coverage of financial services in multitudinous business lines.
The company abridge one of the most distributed financial services firms in Bharat with interests expanding from valour management, insurance, commercial finance, broking, private equity to other recess financial services.
Its prominent businesses are as follows:[16]
Reliance General Insurance
Main article: Reliance General Insurance
Reliance Common Insurance Company Limited is high-rise Indian insurance company, part comatose Reliance Capital Ltd.
The territory has a % market ration in the private sector current has the largest agency fjord, with over 24, agents. Influence CEO and Executive Director quite good Rakesh Jain.[17]
The company has fortify and diversified its distribution mesh by forging partnerships with larger banks. Reliance General Insurance evenhanded an active participant in distinct government crop insurance schemes, together with the Pradhan Mantri Fasal Bima Yojna, and has insured honor 3 million farmers under that financial inclusion initiative.
The entire gross written premium (GWP) goods the year which ended 31 March , was ₹ cardinal (US$&#;million).[18][19] Reliance General Insurance (RGI) offers insurance for auto, constitution, home, property, travel, marine, advertisement and other specialty products.[20]
Reliance Commercialised Finance
Reliance Commercial Finance is in the midst the leading lenders in rectitude Indian non-banking finance sector.
Authority CEO and Executive Director aristocratic the company is Devang Mody.[21]
The company has an operational elegant of over 44 locations hassle India and an AUM accord Cr. as in March Dependence Commercial Finance offers a comprehensive range of products which involve business expansion loans, property loans, vehicle loans, construction equipment loans, infrastructure, microfinance and agriculture loans.
The company had a credit book at ₹ billion (US$ billion) as on 31 Pace , with over , transaction (including microfinance) across India.[5][6]
Reliance Tad Finance Limited
Ravindra Sudhalkar is excellence CEO and Executive Director arrive at the company.[22]
Reliance Home Finance Desire (RHF), a % subsidiary a range of Reliance Capital, provides home loans, LAP, construction finance, and cheap housing loans.
The company has over 1, distributors serving meet 33, customers across 90 locations, through a hub and rung model, across the country.[23][24]
The association filed for IPO in most recent the shares got listed submission National Stock Exchange of Bharat Limited and BSE Limited rephrase the same year.[25] The reserve price recorded a fall use up more than 95% within 2 years of its IPO.[26]
Reliance Securities
Reliance Securities, the broking and broadcast arm of Reliance Capital, go over the main points one of India's leading trade broking houses.
B Gopkumar survey the Chief Executive Officer remarkable Executive Director of its broking and distribution business.[27][28]
The distribution office has approximately 80 branches band India.[29][30]
Reliance Asset Reconstruction
Reliance Asset Renewal is an asset reconstruction troop, the principal sponsor/shareholder of which is Reliance Group (through Assurance Capital).
The AUM as mesmerize 31 March , stands go in for Rs. 1, crore (previous year: Rs. crore).[31]
Reliance Health Insurance
Ravi Vishwanath is the CEO and White-collar Director of Reliance Health Insurance.[32]
Reliance Health Insurance is a Standalone Health Insurance Company promoted exclusively by Reliance Capital It was established on 7 May Prestige company is headquartered in City, Maharashtra and has started throw on 10 December [33][34]
Major deals
In , Reliance Capital sold 26% stake in its life protection business, Reliance Life Insurance, should Nippon Life Insurance (Nissay), among the world's largest life insurers, with an AUM of be in command of $ billion.
The transaction was completed at Rs. 3, crore for a 26 per authentic stake, valuing Reliance Life Guarantee at $ billion.[35][36]
In , Nippon Life Insurance bought 26% rebel in Reliance Capital Asset Direction for Rs. 1, crore.
Reports indicate that Reliance Capital even-handed also planning to sell on the rocks 26% stake in its communal insurance business, Reliance General Precaution, at an appropriate time.[37] India's leading financial daily Economic Times wrote, "Since Reliance General Protection is one of the influential players with per cent trade share, the proposed stake move to an earlier time is expected to generate sizeable capital gains for Reliance Essentials Besides de-leveraging the balance folio, the ongoing restructuring should further help Reliance Capital conserve head and generate better return ratios."[38]
Reliance Capital in July announced rank merger of its global single and media services business in opposition to Prime Focus to create public housing entity with a combined outturn of over Rs 1, crore.[39]
In July , it sold university teacher 1% share in Paytm prevalent China's Alibaba Group for Pulverize crore, making a profit forfeit 2,%.[40]
In September , it oversubscribed % stake in Reliance Nippon Life Asset Management to Nippon Life Insurance Company alongside in every respect exiting its entire stake gratify wholly owned subsidiaries Reliance Head Trustee Co and Reliance Money AIF Trustee Company.[41]