ADAG m-cap zooms to Rs 86,000cr

The market capitalisation of Anil Dhirubhai Ambani Group (ADAG) zoomed to Rs 86,000 crore following the listing of Reliance Communication Ventures (RCoVL) today.

"The market capitalisation of ADAG has jumped to Rs 86,000 crore following the listing of RCoVL today," ADAG chairman Anil Ambani said.

The networth of ADAG stands at Rs 25,000 crore - making it the third largest on this parameter, Ambani added. The operating profit of the group stands at Rs 5,000 crore, he said.

"The group has 25 million customers, the largest in India, and eight million shareholders," Ambani said.

Ambani said the group would invest Rs 5,000 crore a year over the next three years in the telecom business including broadband and wireless divisions.