Anmol, Anshul Ambani join RInfra board as directors

Anmol and Anshul Ambani, sons of Reliance Group Chairman Anil Dhirubhai Ambani, have joined the Board of Reliance Infrastructure (RInfra).

Anmol,who is 27 years old, has a degree in Management from Warwick Business School. He is also an Executive Director at Reliance Capital, a part of the Anil Ambani Group, and has been overseeing the financial services businesses since he joined its Board in August 2016, company officials said.

The 24-year-old Anshul Ambani joined the Reliance Group in January 2019 after completing his undergraduate degree in Business Management from New York University’s Stern School of Business. He has been actively involved in all operations of Reliance Infrastructure, including a special focus on the defence business, working closely with the Group Chairman and with Punit Garg, Executive Director & CEO, company officials said.

The induction of both the younger Ambanis into the Board comes are coming at a time when the Group has publicly said that it has successfully transformed from 15fifteen-plus businesses currently into power distribution, transportation which is highways, metro and airports, engineering and construction and defence.

In its recently held AGM, Anil Ambani had said that the group is on a debt reduction drive. He said that it has repaid over ₹35,000 crore in the 14 months till May 2019 and will be paying another ₹15,000 crore till March 2020 aggregating to around ₹50,000 crore through monetisation and cash flows to lenders.

In June this year, Reliance Infrastructure Delhi Agra (DA) Toll Road to Singapore-based Cube Highways and Infrastructure III with an aim to reduce Reliance Infrastructure’s debt by 25 per cent to less than ₹5,000 crore.