Mumbai: What may come as a twist in the tale, it is reported that billionaire Mukesh Ambani-led India's largest company by market capitalisation--Reliance Industries (RIL)--may become the first company to throw its hat into the ring for bankrupt firm, Reliance Communications (RCom), which was the flagship company of his younger brother Anil Ambani's group.
According to highly placed sources, Reliance Jio plans to submit the bid for the assets of RCom that will come up for sale during the insolvency process.
Media reports suggest that in a push to 5G services roll-out, Reliance Jio is keen to acquire RCom's airwaves and towers to boost its own telecom infrastructure.
The elder brother is also interested in buying his Anil's land assets in Navi Mumbai.
Also, Anil Ambani's pet project RCom owns Dhirubhai Ambani Knowledge City or DAKC, which Dhirubhai Ambani acquired in the '90s through the acquisition of ICI polyester fibre business.
According to an HDFC Realty study, quoted by Anil Ambani at the company's shareholders' meet in 2018, the DAKC is estimated to be over Rs 25,000 crore.