ADAG's market cap to rise over Rs 50,000 cr: Anil

Anil Dhirubhai Ambani Group chief Anil Ambani today said the group's market capitalisation would increase more than Rs 50,000 crore after the listing of Reliance Capital Ventures (RCVL) at the Bombay Stock Exchange tomorrow.

Making a detailed presentation on the group's strategy and plans before more than 250 leading brokers from across the country, Ambani said, "We are among the top three business groups in the country."

Some of the brokers who attended the presentation and the following interactive session later said Ambani had pegged the net worth of the group at Rs 26,500 crore and the net asset value at over Rs 31,000 crore.

The presentation followed an eight-day global roadshow where Ambani interacted with brokers, analysts and prospective investors.

During the presentation, Ambani said he would not favour cross-holding among the group companies.

"Historically, Reliance Capital has had holding in Reliance Energy. But now we have decided not to have cross-holdings," he said.

According to sources from the brokering community, the presentation estimated the shareholder base of the group at over 8 million and the customer base of the four group companies at over 25 million, making it the largest customer base for any entity.

Those who attended the presentation included leading brokerage firm UBS, Inam and JP Morgan.

Commenting on the state of the group's telecom business, Anil said all the holdings of the various telecom companies within the group would come under RCOVL.

Elaborating on the present holding structure, he said the promoters accounted for 37 per cent, followed by the Foreign Institutional Investors at 25 per cent. Another 23 per cent of the equity was held by 2 million individual shareholders, he added.

As much as 8 per cent of the equity is with the Indian Institutional Investors and Mutual Funds and the remaining 7 per cent is accounted for by NRIs, overseas corporate bodies and the global depository receipts.

Speaking on the operational methods, he said the group would operate on the principles of simplicity and transperancy with virtually no related party transactions, an issue on which he had been at odds with with his elder brother Mukesh.

Praising the group's telecom business, he said the telecome arm had a domestic subscriber base of 19 million and another 200 global customers.