Tina joins Anil’s holding company as Director

For the first time, Tina Ambani, wife of Anil Ambani, has joined the board of AAA Enterprises Pvt Ltd — part of Anil Dhirubhai Ambani E...

For the first time, Tina Ambani, wife of Anil Ambani, has joined the board of AAA Enterprises Pvt Ltd — part of Anil Dhirubhai Ambani Enterprises — as a director.

AAA Enterprises is making an open offer for Reliance Capital Ltd which will open on August 11. Anil Ambani holds 98 per cent stake in AAA Enterprises while Tina holds a 2 per cent stake. The company was registered in December 2004, within a month of the ownership battle coming out in the open.

In the REL AGM on June 8, many sharehodlers had advocated Tina as director of the company. Anil did not commit himself and joked about Tina’s induction in the listed company saying he will have to find other work if she joins the board.

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When asked in his post-settlement news conference whether Tina will be inducted in any group company, Anil had said it was not relevant. Tina already holds 0.14 per cent or 180,933 shares in Reliance Capital Ltd.

Post open offer of Reliance Capital, both AAA Enterprises and Anil Ambani will hold a maximum of 32.03 per cent stake in the financial services company. AAA Enterprises has a net worth of Rs 220 crore — which shot up from Rs 61,000 as on March 31, 2005 — and is yet to commence its business.

AAA Enterprises and Anil have arranged for Rs 1,188 crore for the open offer of Reliance Capital.

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