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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