Mukesh Ambani Bets Big in Coal India IPO

Mukesh Ambani bets big in Coal India IPO

Mukesh Ambani, The Chairman of Reliance Industries and India’s most richest person bets on the Coal India IPO. He has put Rs.6000 crores of bid for Coal India IPO.

Reliance Industries is always a cash rich company and it has a reserve cash of more than Rs.13,000 crores which is being invested in Stocks, Debt and Selected Mutual Funds.

Thus, Reliance can bet big on Coal India.

According to IncidMicrofinance,

Other Indian corporates who have put money in Coal India’s IPO are Hero Honda and Bajaj Holdings. Cash rich companies have found Coal India’s shares to be attractively priced and a safe bet to, park their surplus cash. Hero Honda and Bajaj Holdings have each reportedly bid for more than Rs 200 crore each , the source further added.