Jul

21

Reliance Capital AGM 2009 Presentation by Anil Ambani

Filed Under Banking, Capital Markets, India Investment Opportunities, Indian Stock Market, Insurance | Leave a Comment

Following is the transcript of Anil Ambani presentation during today’s Reliance Capital AGM.
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My dear fellow Reliance Capital shareowners,

I am delighted to welcome each one of you to this 23rd Annual General Meeting of our Company. It has been a year of substantial achievements for our company, in the face of one of the toughest global economic downturn ever witnessed in history.

I am delighted to say that we have emerged from the crisis stronger, leaner and even more productive and efficient. We remain one of the most valuable private sector companies in India, and top 3 private sector companies in financial services.

Reliance Capital is today one of India’s fastest growing financial services powerhouses, with well over 17 million customers.

Our customer base, amongst the largest in India in financial services, is spread across 5,000 towns and cities, and served by over 12,000 distribution outlets and over 500,000 business partners.

It gives me great pleasure to inform you that our company is now also a constituent of India’s leading benchmark index – S&P CNX Nifty.

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Jul

21

Reliance Capital Looking To Sell Stake in Insurance Business

Filed Under Banking, India Investment Opportunities, Indian Stock Market, Insurance | Leave a Comment

Reliance Capital aims to be a world-class financial enterprise, chairman Anil Ambani said today at the company’s AGM in Mumbai: “Our focus has shifted from gaining market share to profitability,” he said.

Anil Ambani also said Reliance Capital company was considering various options to unlock value in the insurance business, and that it was likely to go for stake sale, IPO of its insurance business.

Reliance Capital is also raising a private equity fund, and they are raising capital mostly from domestic investors and FIs.

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