HSBC, based in London, has augmented its loan commitment to a segment of Mukesh Ambani’s vast business domain, further deepening its financial ties with Asia’s wealthiest individual. Initially, the bank provided a £60 million ($73 million) loan to a subsidiary of Reliance Industries right after the acquisition of the Stoke Park estate in south-east England for £57 million in 2021, as revealed by UK registry records.

This loan agreement has been extended three times since, with the most recent disclosure in December revealing an increment to £115 million.

HSBC’s association with Stoke Park spans over a decade, funding the approximately 300-acre Buckinghamshire leisure property which boasts a championship golf course and has been a backdrop for two James Bond movies.

Ambani’s business empire is currently engrossed in a significant overhaul of Stoke Park. This pivotal asset represents the conglomerate’s strategic shift from the energy sector, which has been a primary source of Ambani’s wealth. The renovation plans for Reliance include updating the roof of the Georgian-era mansion which now operates as a luxury hotel, constructing seven-star villas, and eliminating ground-level parking.

Mukesh Ambani, at 66 years old, ranks as the world’s 11th richest person, predominantly due to his substantial stake in Reliance, India’s most valued company as per the Bloomberg Billionaires Index.

HSBC’s collaborative ventures with Ambani’s firms have a historical background, encompassing blockchain-facilitated transactions and various methods to expedite business operations in India. In June, they concluded a type of derivatives contract a day post India’s green light for banks to offer augmented currency hedging options to clientele.

HSBC is strategically focusing on India for global business expansion, aligning with other competitors to enhance wealth management functions in the nation. Over the past few years, numerous senior HSBC officials, including CEO Noel Quinn, have visited India. In 2022, Quinn had meetings with Ambani and other affluent individuals from Asia.

Reliance, with its diverse portfolio from retail to refining, procured Stoke Park as a segment of a wider shift towards consumer-centric services. The conglomerate had previously acquired the renowned UK-based toy-store chain, Hamleys, in 2019 and subsequently broadened the brand’s presence in India. They also invested in the five-star Mandarin Oriental New York hotel. In a recent partnership, Reliance collaborated with the hospitality giant Oberoi Hotels & Resorts for asset management, which includes Stoke Park, famously featured in the James Bond films “Goldfinger” (1964) and “Tomorrow Never Dies” (1997). The estate also served as a location for “The Crown”, Netflix’s acclaimed series about the British monarchy.