Will Anil Ambani’s new company change his fortunes? Which sector has he bet on?
New Delhi: Anil Ambani has started a new real estate company named Reliance Jai Properties Private Limited (RJPPL). This is a new subsidiary of Reliance Infrastructure. However, this development surprised experts. Shares of Reliance Infrastructure closed 1.80% lower at Rs 225.85 on BSE on Tuesday. The company’s shares had reached their 52-week high of Rs 308 on April 4, 2024. This rise was recorded after the news of the company repaying the loan.
RJPPL will be incorporated under Reliance Energy Limited on August 12, 2024. Reliance Energy Limited is itself a subsidiary of Reliance Infrastructure. The authorized and paid-up capital of the new company is Rs 1,00,000. This includes 10,000 equity shares at Rs 10 per share.
What things will the new company focus on?
RJPPL will focus on buying, selling, leasing and developing various properties. This move is in sync with the Pradhan Mantri Awas Yojana (PMAY-U) 2.0.
PMAY-U 2.0 is a government scheme. Its aim is to provide affordable housing to urban poor and middle class families. This can give Reliance Infrastructure huge opportunities in the real estate sector.
What has the fall in shares indicated?
However, the fall in Reliance Infrastructure shares has raised questions about the timing and impact of this new venture. Anil Ambani’s family owns 0.17% stake in the company. While RISEE Infinity Private Limited owns 16% stake. The promoters collectively own 16.50% stake.
It will be interesting to see whether this new venture will be able to improve the market performance of Reliance Infra or it is a sign of a more complex strategy.
