Tuesday, August 30, 2022
NEW DELHI: Speaking at India's telecom leader Reliance's annual general meeting, Reliance Chairman Mukesh Ambani said he has been training his children on a daily basis as they begin to take the reins at the company.
With a market value of $220 billion, Ambani's business empire spans telecoms, retail, oil-and-gas and new energy.
He said he was among those mentoring his children as they begin to take the reins at the company, with Akash and Isha assuming leadership roles in Jio digital and retail respectively, and Anant joining the new energy business.
Akash, 30, was also named chairman of the board of Reliance's telecom unit in June.
Ambani senior added that he would provide an update next year on IPO plans for Reliance's digital and retail units, which raised around $22 billion from global investors such as KKR & Co Inc and Silver Lake in 2020.
Reliance also announced the long-awaited integration of its grocery shopping app JioMart with investor-partner Meta Platform Inc's WhatsApp, allowing users to shop via the messaging app.
Separately, Isha Ambani said Reliance will launch a new consumer goods company this year, without giving details.
Reuters exclusively reported in May that Reliance has plans to acquire dozens of grocery and non-food brands to build a $6.5 billion business to challenge foreign giants like Unilever.