Anil Ambani’s son Anmol generates 25 times profit through first deal at Reliance Capital

Anil Ambani’s son Anmol generates 25 times profit through first deal at Reliance Capital

FPJ Web DeskUpdated: Wednesday, May 29, 2019, 08:56 AM IST
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Mumbai: Anil Ambani’s elder son Anmol Ambani has successfully executed his first deal after getting promoted as the director of Reliance Capital. The Reliance Capital is the holding company of the reliance group’s financial services businesses. Anmol has sold Reliance Group’s 60% stake in Codemasters for Rs. 1,700 crore. Codemasters is a British game developing company, best known for its F1 series games.

In 2009, the Reliance group had acquired a 90% stake in Codemasters for Rs. 100 crore. The stake-sale nets a return of over 25 times for the diversified enterprise. The shares have been offloaded to about 30 institutional investors in United Kingdon and Europe and had attracted bids of over Rs. 5000 crore. The deal will also see its shares listed on the AIM platform of the London Stock Exchange (LSE). Based on the value of the deal, the group’s remaining 30% stake is worth Rs. 850 crore.

Codemasters was founded in 1986 and has a strength of about 500 employees. The company has four facilities- three in England and one in Malaysia. The Codemasters’ revenue has doubled since 2016. It has moved to 64 million pounds in fiscal year 2018 from 31 million pounds in 2016.  Other than Codemasters, the Reliance Group also has investments in Hollywood movie studio DreamWorks.

Anmol, who is 26-year-old at present, graduated from the Warwick business school and joined the Reliance group’s mutual fund arm in 2014. After two years, he joined the board of Reliance Capital. The Codemasters deal by Anmol showcases his skills in accelerating the performance of Reliance group, which include monetising the media and entertainment investments in a bid to strengthen the balance sheet.

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