Reliance Spends $13 Billion on Acquisitions in 5 Years

Billionaire Mukesh Ambani's Reliance Industries Ltd has spent $13 billion 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 businesses to clean energy and consumer-facing verticals.

- Press Trust of India

NEW DELHI:

Last week, Reliance bought oncology platform Karkinos Healthcare for ₹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 $13 billion in acquisitions with 14% in new energy, 48% in technology, media and telecommunications (TMT), 9% in retail, and increasingly more in healthcare," it said.

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