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Business Headlines: With just 22% stake left, Anil Ambani is rapidly losing control of RCom

Anil Ambani is rapidly losing control of his flagship company Reliance Communications. In December 2018, just three months ago, Anil Ambani’s shareholding in RCom was 53.08%, and today it stands at just 21.97%. The Anil Ambani Group’s stake in its telecom arm RCom fell from 53.08% to 37.57% in February of this year when L&T Finance and Edelweiss Group sold promoter shares pledged by Anil Ambani. Then, as recently as between 25th and 27th March, IndusInd Bank and Rattan India Finance sold 4.52% and 11.08% of shares pledged with them by RCom, thereby bringing down the promoter shareholding of Anil Ambani further from 37.57% to 21.97%. It is because of these pledges of shares that Anil Ambani has lost control of his company. Bigbasket, India’s largest online grocery delivery firm, is the latest start-up to be termed as a Unicorn. After sealing a funding of $ 150 million from Alibaba, Mirae Asset Management and CDC, it has a post money valuation of $ 2.28 billion. Another start-up Delhivery also raised funding this week at a valuation of $ 2 billion, which marks the entry of two start-ups into the coveted Unicorn club in a matter of a week.

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