Chennai: Reliance Group has launched the “Reliance Group Corporate Centre” (RGCC) as a part of its VISION 2030: Growth Strategy. The RGCC will serve as a strategic hub, providing guidance to the Group’s companies as they pursue new opportunities and technological advancements.
The core team of RGCC will include experienced leaders of the group – Mr. Sateesh Seth, Mr. Punit Garg, and Mr. K. Raja Gopal, who collectively bring nearly 100 years of management expertise, including over 50 years within the Reliance Group. Both Mr. Seth and Mr. Garg have dedicated more than two decades to the group, serving in various leadership positions. Mr. Punit Garg currently leads as CEO of Reliance Infrastructure, while Mr. K. Raja Gopal has been at the helm of Reliance Power for six years. He has over 27 years experience in the power sector. Other leaders from the group companies will also be invited to the RGCC.
The establishment of RGCC aims to harness the in-house expertise of these seasoned leaders to support the Group’s forward-looking growth initiatives and cultivate a new generation of leadership for future projects. The RGCC will play a pivotal role in mentoring and developing emerging leaders, blending experience with fresh talent to propel the group towards sustained growth.
A Reliance Group spokesperson highlighted, “We are thrilled to introduce RGCC, a team of seasoned professionals with a broad spectrum expertise. This strategic move aims to steer the Group’s future growth by tapping into the vast experience of these leaders, will help navigate industry challenges and capitalize on new opportunities, drive innovation, and deliver exceptional value to our customers and stakeholders. We believe RGCC will be instrumental in shaping the next phase of our Group’s success.”
In recent developments, Reliance Infrastructure Ltd. and Reliance Power Ltd., key entities under the Reliance Group, have achieved zero bank debt status and outlined plans for expansion into new growth areas. Reliance Power has secured 1,270 MW of renewable power projects in Bhutan, while Reliance Infrastructure, through its subsidiary Reliance Defence Ltd., is setting up a manufacturing facility for small arms, ammunition, and explosives in Ratnagiri, Maharashtra, spanning 1,000 acres.
To support these ambitious expansion plans, the companies have announced a combined fundraising effort of Rs 17,600 crore. This includes Rs 4,500 crore via preferential equity issues, Rs 7,100 crore from Varde Partners through equity-linked long-term FCCBs, and Rs 6,000 crore via Qualified Institutional Placement (QIP), with Reliance Power and Reliance Infrastructure each targeting Rs 3,000 crore.
