New Delhi: In a major announcement, the Anil Ambani-led Reliance Group has revealed its plans to focus on the defense, power, and clean energy sectors as part of its next phase of growth. It is important to note that the information was shared after the Enforcement Directorate (ED) completed searches at locations linked to the group as part of an investigation into alleged money laundering and misappropriation of public funds.
According to the reports, over 100 top executives from the group’s two listed companies — Reliance Infrastructure and Reliance Power — met in Mumbai on Sunday and reaffirmed their commitment to the group’s ambitious growth blueprint.
In a press statement, the group said, “Following the unanimous approval by the Boards of Directors of Reliance Infrastructure and Reliance Power a week ago to raise ₹18,000 crore through equity and debt for growth in the defence, aerospace, and renewable energy sectors, the meeting reaffirmed unity of purpose, renewed enthusiasm, and a shared commitment to delivering long-term value for stakeholders.”
In separate statements, both listed companies said that the Enforcement Directorate’s action has concluded and that the company and its officials have fully cooperated with the authorities. The statement said, “The ED’s action will have no impact on the company’s business operations, financial performance, shareholders, employees, or any other stakeholders.”
After the leadership meeting, the group issued a statement and said that its two listed companies— Reliance Infrastructure and Reliance Power— are nearly debt-free, with total assets of Rs 14,883 crore and Rs 16,431 crore respectively
The group lso informed that a combined total of 5 million public shareholders. The leadership meeting highlighted high-growth sectors that will drive the group’s future strategy.
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