Anil Ambani’s Rs 50,000 crore firm doubled its money in 6 months; shares once at Rs 1, now price is…

Billionaire Mukesh Ambani’s younger brother Anil Ambani has been struggling to keep his businesses afloat over the last few years after declaring bankruptcy, but one of his companies – Reliance Power – have shown a massive spike in its valuation, nearly doubling its wealth.

Despite having thousands of crores of debt, Anil Ambani has recovered the value of his once successful company Reliance Power. The firm has recorded a strong rise in its share prices over the last six months, leading to its valuation doubling.

The share prices of Anil Ambani’s Reliance Power have doubled in the last six months. The company had hit its all-time low when the shares were trading at just Rs 1 three years ago, but now a steady recovery gradually led to its all-time high in the past year at over Rs 20 apiece.

On September 30, the share price of Anil Ambani’s Reliance Power was at Rs 20.12, while on October 22, before the market opened, the shares were recorded at Rs 18.50. It must be noted that just three years ago in March 2020, the share price was at Rs 1.

Meanwhile, the last six months have recorded great growth for Reliance Power, with the share prices rising from just Rs 9.50 to over Rs 20. Reliance Power currently has assets worth Rs 50,781 crore and has a revenue of over 8400 crore.

This sudden spike in the share prices of Reliance Power is because two companies of Anil Ambani ended up raising Rs 1043 crore, pleasing the shareholders. Reliance Power and Reliance Infrastructure ended up raising a whopping amount through Reliance Commercial Finance.

Anil Ambani is in the process of selling some of his companies including Reliance Telecommunications and RInfra in order to lighten the burden of debt.

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