Hail ‘Anmol Effect’! Anil Ambani Appoints Son as R-Cap Director

Anmol has brought good luck to R-Cap shares, Anil Ambani said while introducing him at the AGM in Mumbai.

Chairman Reliance infrastructure Anil Ambani and his son Jai Anmol Ambani during the Reliance capital AGM in Mumbai on Tuesday, 27 September 2016. (Photo: PTI)

Introducing son Anmol as a new director on Reliance Capital’s board, Chairman Anil Ambani on Tuesday said he has brought “tremendous luck” with a 40 percent surge in share price since his induction and hoped that the ‘Anmol Effect’ will continue further.

At the Annual General Meeting, the shareholders appointed 24-year-old Jai Anmol Ambani with “vote of confidence” as an Executive Director.

Anmol is part of this younger demography and will relate to the future customers, shareholders, employees as well as the other stakeholders of Reliance Capital. 

Anil Ambani, Chairman, Reliance Capital

Anil Ambani along with his wife Tina Ambani and son Jai Anmol Ambani before the Reliance Capital AGM in Mumbai on Tuesday, 27 September 2016. (Photo: PTI)

Anmol Effect

Anmol, who has a degree from Warwick Business School in the UK, joined the board of Reliance Capital as an additional director a little over one month ago on 23 August after two years of training at the company.

Reliance Cap stock was trading over 1 percent higher at close to Rs 575 apiece, marking a significant surge from near Rs 467 each before Anmol was appointed to the board.

Anmol has brought tremendous luck as the stock price rose by 40 per cent since his induction in the board and has added to the value creation for our shareholders. I hope and I am confident that the ‘Anmol Effect’ will continue, based on the improved performance, growth and teamwork.

Anil Ambani, Chairman, Reliance Capital

The sharp rally in the past one month has helped the stock soar by a huge 70 percent in the past one year, which is much higher than the rise in the benchmark market indices.

Besides Anil, Anmol is the Only Family Member on Financial Service Board

With a revenue of over Rs 4,000 crore, Reliance Capital has various verticals dealing in life insurance, commercial finance, securities, general finance and mutual funds.

Anmol has been working in various financial services businesses within Reliance Capital since 2014. Besides the chairman, Anmol is the only other family member to have joined the board of financial services arm of the Reliance Group.

He has been actively involved in internal business reviews across companies and has also been part of interactions with Nippon Life for increasing stake in Reliance Life Insurance and Reliance Capital Asset Management in the last two years.