Raises 1,700 crore from the LSE listing

Anil Ambani-led Reliance Group has raised ₹1,700 crore by listing its gaming firm Codemasters Ltd. on the AIM platform of the London Stock Exchange (LSE).

The £185-million (approximately ₹1,700 crore) offering, comprising a primary offering of £15 million (approximately ₹150 crore) and secondary sale of £170 million (approximately ₹1,550 crore) by Reliance Group and other management shareholders, received an enthusiastic response, and was significantly oversubscribed, said Reliance Group.

“I am delighted with the successful outcome of the Codemasters offering in the international markets,” said Anmol Ambani, executive director, Reliance Capital.

‘Value creation’

“This is a classic example of value creation as my grandfather, Dhirubhai Ambani, taught us all, namely, generating extraordinary returns by deploying minimal amounts of capital,” he added. Reliance received net proceeds of ₹1,400 crore from the offering.