This 33-year-old became Anil Ambani’s good luck charm, helped revive his bankrupt companies from 5000 crore debt; Mukesh Ambani is his…, name is…
After facing years of setbacks, Anil Ambani’s fortunes are now finally changing. It seems like Reliance Group Chairman Anil Ambani has found a magic lamp. Due to poor planning, over-dependence on debt, bad choices, shares fell, and poor execution, all of Anil Ambani’s companies began to struggle. But now talking about his current scenario, companies are finding more capital to invest in their future, profits are growing, loan amounts are shrinking, and new projects are coming in. If trends goes like this, it won’t be a surprise to see Anil Ambani regain the status of being a powerful business tycoon he had lost over the last decade in the business world. But how did the scenario change? What happened? Who helped him regain his popularity?
Who is this young man behind Anil Ambani’s remarkable turnaround?
After the separation from their father’s business empire, Mukesh Ambani swiftly scaled the legacy and took it to new heights. On the other hand, Anil Ambani’s journey was filled with difficulties. A variety of mistakes led to failed ventures, bankruptcy, and piling debt to the point where he could be considered unfit to sit at the same table as his brother.
Soon, Mukesh became the richest man in Asia, while Anil’s financial decline continued. But now, it seems that the situation is starting to change. Anil Ambani’s business world has a new player, someone who is beginning to change his fortunes. That person is Jai Anmol Ambani.
Why is this young man being called Anil Ambani’s ‘good luck charm’?
Jai Anmol Ambani, 33, has stepped into a significant role that is helping alleviate the financial crisis and bankruptcy challenges his father, Anil Ambani, and his companies faced.
Anmol began working alongside Anil after his college education. He began his career at Reliance Capital as a trainee and then continued with an internship at Reliance Mutual Fund. He was appointed as an Additional Director on the board of Reliance Capital in 2016 and was named Executive Director in 2017.
What strategies did Jai Anmol Ambani use to revive the struggling companies?
Talking about his entrepreneurial journey, Anmol had joined the board of Reliance Nippon Life Asset Management and Reliance Home Finance by 2018. Anmol impressed Nippon Life of Japan to invest in Reliance Capital; this led to a total increase of 40% growth of the overall stock price of the company. Anmol’s solid decisions and steady leadership are now being seen as a major force behind his father’s only strong chance of recovery in business.
Jai Anmol Ambani is determined not to repeat his father Anil Ambani’s mistakes. His main agenda has been to cut the debt burden of the companies. His belief is very simple: when the debt comes down, the confidence of the investors goes up, stock prices go up, and new orders start coming in; and that’s exactly what has started to happen.
One by one, the Anil Ambani companies are becoming debt-free. At the same time, they are signing new business deals and orders, showing the companies are revived. Before going into new businesses, Jai Anmol first focused on building the platform. He is now focusing on high-growth segments like green energy and defense.
Recently, Anil Ambani’s company, Reliance Infrastructure, announced the establishment of a new subsidiary to formally enter the real estate industry. This new company is Reliance Jai Properties Private Limited (RJPPL), which will purchase, acquire, lease, and develop real estate. At the same time, Anil Ambani has already begun moving into the electric vehicle (EV) space. As per media reports, Reliance Infrastructure is looking into the plans to produce electric cars and batteries as part of its entry into the EV space. Jai Anmol Ambani is taking care of these fresh businesses by aggressively pushing on through into high-growth sectors.
Reliance Defence has entered into substantial partnerships with companies from Germany, France, and the United States. Reliance Infrastructure’s subsidiary, Reliance Defence Limited, has developed a strategic partnership with Coastal Mechanics Inc. a US-based company. The companies will target the Rs 20,000 crore defense MRO (Maintenance, Repair, and Overhaul) and upgradation market in India. Reliance Infrastructure received an order of Rs 600 crore from a German company.
In 2014, Jai Anmol Ambani was reportedly instrumental in Reliance’s Rs 12,000 crore deal for Jaypee Associates’ power assets. As he navigated through this transaction, he was being guided and mentored by Sam Ghosh, who was the CEO of Reliance Capital at the time. Colleagues who worked with Anmol at that time noted that he was innovative and modern with his ideas, and he had the potential to become a powerful visionary leader.
SEBI and Jai Anmol Ambani
In September 2024, Jai Anmol Ambani had some legal issues when the Securities and Exchange Board of India (SEBI) reprimanded him and imposed a Rs 1 crore fine on him. The penalty was for approving Rs 40 crore in unsecured loans without board approval after the board had determined to deny these loans.
SEBI’s investigation determined that Anmol had acted outside of due process and failed to carry out his obligations as a director. While the matter was resolved with the monetary penalty, it did provide unwanted publicity and media attention with respect to the way Anmol conducted himself in a leadership role.
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