Mukesh Ambani spent Rs 1113326345300 in last 5 years to buy….

RIL's biggest acquisition in the last five years has been buyout of local cable TV and internet service providers Hathway Cable and Datacom Ltd for USD 981 million.

Mukesh Ambani investments: As the year comes to a close, it brings notable information which many of us would like to read. In a fresh report by Morgan Stanley, it has been revealed that Billionaire Mukesh Ambani’s Reliance Industries Ltd has spent USD 13 billion on acquisitions in the past five years across new energy, telecom, retail and media business to script a pivot away from core oil and petrochemicals business to clean energy and consumer facing verticals.

“Over the past five years, RIL has announced USD 13 billion in acquisitions with 14 per cent in new energy, 48 per cent in technology, media and telecommunications (TMT), 9 per cent in retail, and increasingly more in healthcare,” the report said.

Of this, USD 6 billion was in acquisition of companies and assets in media and education business and USD 2.6 billion in telecom and internet verticals. It spent USD 1.7 billion on acquisitions in new energy and USD 1.14 billion in retail, it added

RIL’s biggest acquisitions

RIL’s biggest acquisition in the last five years has been buyout of local cable TV and internet service providers Hathway Cable and Datacom Ltd for USD 981 million. It spent USD 771 million on buying Norwegian-headquartered solar panel maker REC Solar Holdings and another USD 767 million on buying search and database firm JustDial, the report said.

RIL acquires Karkinos Healthcare

Last week, it acquired a 100 per cent stake in Karkinos Healthcare, increasing its exposure to the diagnostic and healthcare ecosystem following previous investments like HAGI, Netmeds and Strand Life Science.

Karkinos provides technology driven, innovative solutions for early detection, diagnosis and management of cancer, according to Morgan Stanley. It acts like a care partner during a patient’s cancer treatment.

Other investors in the company have included Tata Group, Rakuten, Mayo Clinic, and Hero Enterprise.
“RIL aims to leverage its technological expertise and vast distribution networks to create more integrated healthcare system-digital health platforms, telemedicine services and advanced healthcare delivery models,” the brokerage said.

Karkinos was incorporated in India on July 24, 2020 and is in the business of providing technology-driven, innovative solutions for the early detection, diagnosis, and management of cancer. It had a turnover of about Rs 22 crore in the 2022-23 fiscal year.

(With inputs from agencies)