Nearly Rs1 lakh crore assets coming on line: Mukesh Ambani
08 October 2009
Commenting on the 1:1 bonus yesterday (See: RIL offers 1:1 bonus; to pay 130 per cent dividend) by Reliance Industries, Mukesh Ambani, chairman and managing director, says the bonus issue is part of the company's tradition to reward shareholders. ''Whenever we finish a value creation cycle, we make sure that everybody is rewarded and in this value creation cycle, we have nearly Rs100,000 crore of assets coming on line.''
India Inc, Ambani feels, needs to strengthen its balance sheet."For Indian companies, the challenge really is to be the most productive, competitive, efficient, so that in every sector they have the opportunity to come out in the top quartile. If we do that we will not only adjust with the external world, but we will also create more value for our domestic markets."
CNBC-TV18 shares with domain-b. its exclusive interview with Ambani.
Before I talk about India Business Leader Awards (IBLA), I have to congratulate you on the bonus. It came as a surprise to your investors. What was it meant to be, a signal?
It was a Reliance tradition, a commitment that whenever we finish a value creation cycle, we make sure that everybody is rewarded and in this value creation cycle.
This was the biggest in our history where we had nearly Rs100,000 crore of assets coming on line. It has improved India's exports. The natural gas has really helped the fertiliser and the power economy.
And so, after all the stakeholders, it was the shareholders' turn. This was a commitment that we have made, and this is something we are committed to.