Anil Ambani – Buffet in Making…?

Economic Times reports that Anil Ambani wants to pick a stake in Bombay Stock Exchange (BSE), which is being corporatised - divesting 51% of its stake to retail investors. A team from Anil Ambani-promoted Anil Dhirubhai Ambani Enterprise (ADAE) is said to have met the board of BSE in this regard.

After picking stakes in Adlabs Films, AMP Sanmar, Celebrity Fashions and Spanco Telesystems, the younger Ambani led Reliance Capital (RCL) has recently picked 14% stake in Kinetic Engineering for Rs 13 crore.

His intention must be transforming Reliance Capital from a Non-Banking finance company (NBFC) to an “Investment Company” on the lines of Warren Buffet’s Berkshire Hathaway.

Anil Ambani: Buffet in making?

Anil, with the war chest of Rs.2300 crore raised through a preferential issue, is been on a lookout for investment options to utilize the money. You can expect some more news of his investments, as he needs to utilize the money quickly. Otherwise its return on capital would be affected.

Is Anil Ambani, a MBA graduate from the Wharton Business School, a Warren Buffet in making?

Update(04.11.2005;21.52 IST): In related developments both BSE and Anil Ambani have denied reports about Reliance Capital picking up a stake in BSE.