Mukesh Ambani-led Reliance Industries group is already a major investor in EIH Ltd, the main listed entity from Oberoi group that runs a chain of luxury hotels.
While RIL group firm Reliance Industrial Investments And Holdings Ltd owns an 18.53 per cent stake in EIH Ltd, a small 2.12 per cent stake is also held in the company as a financial investment by Reliance Mutual Fund, which is part of Anil Ambani-led Reliance Group.
Expanding its exposure to the hospitality sector, Reliance MF has now increased stake in Indian Hotels Company to 8 per cent through multiple share purchases over the recent months, sources close to the fund house said.
As per the latest available shareholding pattern of Indian Hotels on the BSE website, Reliance MF held a 5.42 per cent stake in the company through two separate funds as on September 30, 2015. The total stake of the fund house has now reached near 8 per cent which is a financial investment made by a mutual fund, sources added.
Other major investors in the company include LIC, Franklin Templeton, as also multiple insurers such as General Insurance Corporation of India, New India Assurance and ICICI Prudential Life Insurance.
LIC, New India Assurance and General Insurance Corporation Of India also figure among the major shareholders in EIH Ltd, where Reliance Industries group had acquired stake a few years ago as a 'white knight' or a 'friendly investor' to the promoters to thwart a takeover bid from rival ITC Ltd.
ITC continues to hold a 14.98 per cent stake in EIH Ltd.
Lately, the two Reliance groups have been bolstering their positions in their respective businesses. Some of the common sectors where both the groups have significant exposure include telecom, media and defence.
The launch of Reliance Jio by RIL group this weekend saw a family reunion of sorts for the two billionaire brothers as the event was also attended by Anil Ambani, his wife Tina Ambani and sons Anmol and Anshul.
In 2003, Mukesh Ambani had launched Reliance's CDMA mobile business, but that business went to Anil after family split and is now known as Reliance Communications.
The two brothers have already come together for sharing of mobile airwaves or spectrum as well as infrastructure like mobile towers and masts.
Jio has also partnered Reliance Communications, India's fourth-biggest mobile phone carrier, for sharing of mobile masts and leasing of optic fibre network.
The partnership brought together the once-feuding Ambani brothers who had gone separate ways a few years after death of their father Dhirubhai Ambani in 2002. The erstwhile Reliance empire was split between the two in 2005.
In their telecom partnership, Anil's Reliance Communications will access 4G mobile networks of Jio, which, in turn, can use the former's 2G and 3G networks when needed.
Reliance Communications will also enter into a pact with Jio for trading and sharing of 4G mobile radio waves.
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