Reliance Industries Ltd.

Reliance Industries’ (RIL) owner - Mukesh Ambani, is mulling a rejig of personal investment by setting up a holding company - Reliance Industries Holding - in order to reduce cross-holdings and streamline his portfolio.

Mukesh Ambani has invested in a gas pipeline company Reliance Gas and Transportation (RGTIL), a Jamnagar-based power company Reliance Utilities and Power (RUPL) and in Reliance Ports and Terminal (RPTL) which also handles crude import, petrochem exports needs of RIL.

Further to the development, the investment division of RPTL will be hived off as a separate company and then will be merged with the new holding company. A petition for the same has already been filed with the Gujarat high court. A similar exercise is expected to take place with RGTIL and RUPL in the near future.

The holding company will help synergise investments of all the companies and give tax breaks to the holding company on losses, which will beneficial to the billionaire Mukesh Amabani, who owns 100% of stake in several companies. However, RPTL's investment portfolio, worth Rs 10,200 crore after the write off, will be merged with the holding company as the losses made by the company are on account of its investments made in various listed and unlisted stocks.