Mukesh Ambani's Reliance spends Rs 111327 crore in five years on...

Mukesh Ambani, India's richest man, remains in the news for several reasons. The Indian billionaire runs Reliance Industries as chairman and has a net worth of USD 94.2 billion as per Forbes. His Reliance is India's most valuable firm with a market cap of Rs 16.45 lakh crore. Since its inception, the company has come a long way and expanded into several sectors such as telecom and FMCG. It also acquired many firms to expand its business.

Reliance Industries has spent USD 13 billion (around Rs 111327 crore) on acquisitions in the past five years across new energy, telecom, retail and media businesses to script a pivot away from core oil and petrochemicals business to clean energy and consumer-facing verticals.

Last week, Reliance bought oncology platform Karkinos Healthcare for Rs 375 crore, adding another stack to its diagnostic and digital healthcare ecosystem, Morgan Stanley said in a report. "Over the past five years, RIL has announced USD 13 billion in acquisitions with 14 per cent in new energy, 48 per cent in technology, media and telecommunications (TMT), 9 per cent in retail, and increasingly more in healthcare," it said.

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Of this, USD 6 billion was in the acquisition of companies and assets in the media and education business and USD 2.6 billion in telecom and internet verticals. It spent USD 1.7 billion on acquisitions in new energy and USD 1.14 billion on retail, according to Morgan Stanley.

RIL's biggest acquisition in the last five years has been the buyout of local cable TV and internet service providers Hathway Cable and Datacom Ltd for USD 981 million. It spent USD 771 million on buying Norwegian-headquartered solar panel maker REC Solar Holdings and another USD 767 million on buying search and database firm JustDial, the report said.

(With inputs from PTI)