BOOM and BUST
![Image](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEibCAEwz1Ht5dvC2HR93yGLhAutaeVLn_VyqOZDYondiVV64M3ee-CjfFI4PcuOYNlEcuaomgaDf7rq71tcuw2vaIy_XSWH8jwkUo-shET7pwlCqM-SSMyzMO26ZB7MGGBWLrtDoB8E1sXq/w416-h156/BOOM-TO-BUST.png)
The sign of a raging bull market was evident with the oversubscription of Reliance power IPO by 69 times. The touted biggest Indian IPO not only made the promoter surpass Mukesh Ambani but made Anil Ambani the richest Indian. Apparently, little did the investors know that its market cap will get eroded by 94% since IPO in 2018. This dramatic episode unfolded for a reason. PRELUDE: The Reliance group was valued at 15 billion when Shri Dhirubhai Ambani passed away in 2002, This was followed by the split of the giant conglomerate with RIL led by Mukesh Ambani and sunrise industries like financial services, construction, entertainment, power, health care, aviation, and defense industries being led by Ani Ambani, but what went wrong with each company floated by him which cumulatively lost 42 billion in 12 years? Reliance infrastructure Infrastructure is greatly influenced by the government's stratagem, governments do impact real estate companies as its policy on infrastructure, cre