+
HSBC increases Stoke Park loan to ?115 mn for Ambani's Reliance
ECONOMY & POLICY

HSBC increases Stoke Park loan to ?115 mn for Ambani's Reliance

HSBC Holdings Plc has significantly increased its loan arrangement for a subsidiary of Indian billionaire Mukesh Ambani?s Reliance Industries, signalling its confidence in Asia?s wealthiest individual. Originally providing a ?60 million ($73 million) loan facility for Reliance Industries' subsidiary shortly after its 2021 acquisition of the Stoke Park estate in southeast England for ?57 million, HSBC has extended the arrangement three times. The latest disclosed increase in December brought the total to ?115 million.

For over a decade, HSBC has been involved in financing Stoke Park, a sprawling 300-acre Buckinghamshire leisure property boasting a championship golf course and featured in two James Bond films. Ambani?s conglomerate is currently renovating Stoke Park, a pivotal asset in its shift away from the energy sector that has been the foundation of Ambani?s wealth. Renovation plans include replacing the roof of the property?s Georgian-era mansion, now a luxury hotel, constructing seven-star villas, and eliminating surface-level parking.

Mukesh Ambani, 66, stands as the 11th-richest person globally due to his significant stake in Reliance, India?s most valuable company. HSBC and Ambani?s companies have a history of collaboration, spanning various initiatives such as blockchain-enabled transactions and derivatives contracts. The bank is focusing on India to expand its global business and has bolstered its wealth-management operations in the country. Notably, senior HSBC executives, including CEO Noel Quinn, have engaged with Ambani and other influential figures in Asia?s business landscape during visits to India.

Reliance Industries, a diverse conglomerate, acquired Stoke Park as part of its strategic shift toward consumer offerings. In addition to Stoke Park, Reliance has expanded its portfolio by acquiring the UK-based toy-store chain Hamleys in 2019 and an indirect stake in the prestigious Mandarin Oriental New York hotel. Moreover, Reliance recently partnered with hospitality firm Oberoi Hotels & Resorts to manage assets, including Stoke Park, a location renowned for its appearances in James Bond films and Netflix?s series, The Crown.

HSBC Holdings Plc has significantly increased its loan arrangement for a subsidiary of Indian billionaire Mukesh Ambani?s Reliance Industries, signalling its confidence in Asia?s wealthiest individual. Originally providing a ?60 million ($73 million) loan facility for Reliance Industries' subsidiary shortly after its 2021 acquisition of the Stoke Park estate in southeast England for ?57 million, HSBC has extended the arrangement three times. The latest disclosed increase in December brought the total to ?115 million. For over a decade, HSBC has been involved in financing Stoke Park, a sprawling 300-acre Buckinghamshire leisure property boasting a championship golf course and featured in two James Bond films. Ambani?s conglomerate is currently renovating Stoke Park, a pivotal asset in its shift away from the energy sector that has been the foundation of Ambani?s wealth. Renovation plans include replacing the roof of the property?s Georgian-era mansion, now a luxury hotel, constructing seven-star villas, and eliminating surface-level parking. Mukesh Ambani, 66, stands as the 11th-richest person globally due to his significant stake in Reliance, India?s most valuable company. HSBC and Ambani?s companies have a history of collaboration, spanning various initiatives such as blockchain-enabled transactions and derivatives contracts. The bank is focusing on India to expand its global business and has bolstered its wealth-management operations in the country. Notably, senior HSBC executives, including CEO Noel Quinn, have engaged with Ambani and other influential figures in Asia?s business landscape during visits to India. Reliance Industries, a diverse conglomerate, acquired Stoke Park as part of its strategic shift toward consumer offerings. In addition to Stoke Park, Reliance has expanded its portfolio by acquiring the UK-based toy-store chain Hamleys in 2019 and an indirect stake in the prestigious Mandarin Oriental New York hotel. Moreover, Reliance recently partnered with hospitality firm Oberoi Hotels & Resorts to manage assets, including Stoke Park, a location renowned for its appearances in James Bond films and Netflix?s series, The Crown.

Next Story
Infrastructure Transport

Railways Opens First Section of Bullet Train Tunnel in Maharashtra

The Mumbai–Ahmedabad bullet train project has achieved a key milestone with the opening of the first section of a 21-km undersea tunnel between Ghansoli and Shilphata in Maharashtra. The high-speed rail corridor, powered entirely by Japanese Shinkansen technology, has seen 310 km of viaducts completed, alongside rapid progress in track laying, electrical works, and station construction. Five of the 12 stations are complete, with three more nearing completion. The BKC station, located 32.5 metres underground, is designed to support a 95-metre structure above. The next-generation E10 Shin..

Next Story
Infrastructure Urban

Mahindra, Osaka Ink Pact to Boost Japanese Investment

Mahindra Industrial Park Chennai (MIPCL), along with its Japanese stakeholder Sumitomo Corporation, has signed a strategic cooperation agreement with the Osaka Prefecture and Osaka Industrial Development Bureau to support Osaka-based businesses entering India.The partnership aims to streamline entry for Japanese manufacturers, providing support such as business visits, regulatory guidance, and market insights. MIPCL and Sumitomo will act as local facilitators, while Osaka authorities will identify and recommend companies for expansion.With India’s projected GDP growth of 6.3 per cent in FY25..

Next Story
Building Material

Govt Plans Mandatory Public Procurement of Green Steel

The Ministry of Steel is working on modalities to mandate public procurement of green steel, as part of its efforts to decarbonise the industry. A Rs 150 billion Green Steel Mission is being formulated to support emission reduction and move towards net-zero targets.The mission will include a PLI scheme, incentives for renewable energy use, and mandates for government agencies to buy green steel. Green steel is produced with significantly lower carbon emissions compared to conventional methods.Speaking at the India Steel Conclave 2025, a senior official said procurement mandates are under consi..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?