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Ambani’s Reliance acquires Future Group for $3.4 billion

31Aug By AdityaNo Comments

ACQUISITION

Ambani’s Reliance acquires Future Group for $3.4 billion

New Delhi, Aug 31, 2020: Indian Billionaire Mukesh Ambani's Reliance Industries acquired Ashok Biyani led Future Group for $3.4 billion (Rs 24,713 crore) to bolster its fast growing retail business. "Reliance Retail Ventures Ltd (RRVL), subsidiary of Reliance Industries, will acquire the retail and wholesale business and the logistics and warehousing business from the Future Group as going concerns on a slump sale basis for lumpsum aggregate consideration of $3.4 billion," the company said in a statement. Through the deal, Reliance will acquire Future Retail that owns the BigBazaar that sells everything from groceries to cosmetics and apparel, and Future Lifestyle Fashions Ltd that operates fashion discount chain Brand Factory. While Reliance will takeover Future Consumer Ltd, wh...

22Jun By Press Trust of IndiaNo Comments

INDIA

Reliance Industries becomes first Indian firm to hit $150 bn market cap

Mumbai, 22nd June 2020: India based oil company Reliance Industries became the first Indian firm to hit a market valuation of $150 billion, helped by a continuous rally in its share price. In the morning trade, the company's market valuation jumped Rs 28,248.97 crore to Rs 11,43,667 crore ($150 billion) on the BSE. The heavyweight stock surged 2.53 percent to a record high of Rs 1,804.10 on the BSE. On the NSE, it rose by 2.54 per cent to an all-time high of Rs 1,804.20. Reliance Industries on Friday became the first Indian company to cross the Rs 11 trillion market valuation mark. Its market valuation crossed Rs 11 trillion in the previous session as its share price rallying over 6 per cent after chairman Mukesh Ambani announced that his oil-to-telecom conglomerate had be...

Reliance acquire Logistics Services platform Grab in $15 million

3Mar By AdityaNo Comments

ACQUISITION

Reliance acquire Logistics Services platform Grab in $15 million

RIL-arm Reliance Industrial Investments has entered into agreements to acquire logistics services platform Grab and software firm C-Square Info Solutions. Reliance Industries, in a regulatory filing, said its wholly owned subsidiary Reliance Industrial Investments and Holdings has entered into an agreement for acquisition of equity shares of Grab A Grub Services Private Limited ('Grab') for a cash consideration not exceeding Rs 106 crore. "RIIHL will further invest an amount of up to Rs 40 crore and is likely to be completed by March 2021. The total investment will translate into 83 per cent of equity capital in Grab on a fully diluted basis," RIL said. "The aforesaid investment will further augment the group's digital commerce initiatives and strengthen its logistics services, c...

Reliance Industries Acquires Stake in Blockchain Startup for $5 million

25Dec By Gauri SinghNo Comments

ACQUISITION

Reliance Industries Acquires Stake in Blockchain Startup for $5 million

Reliance Industries has acquired 5.56 per cent equity stake in technology startup Vakt Holdings Ltd, UK (VHL), for $5 million (approx Rs 35 crore). In a regulator filing, the company said it has acquired the equity stake in VHL, a closely held startup entity which is expected to run its energy-focused blockchain startup early next year. VHL is a consortium of leading global energy majors, commodity traders and banks with a vision to digitise the global commodities trading industry, creating a secure, trusted ecosystem, powered by blockchain. "The strategic investment accelerates Reliance's digital journey, through active participation in an emerging and evolving, yet promising, block chain enabled technology solution for energy markets," the company sa...

RIL in Talks to Acquire India’s Largest Cable Operator

3Oct By Gauri SinghNo Comments

ACQUISITION

RIL in Talks to Acquire India’s Largest Cable Operator

Indian conglomerate Reliance Industries is in talks to acquire India’s largest cable operator, Hathway Cable & Datacom. With this acquisition, the company is looking to speed up the commercial launch of its GigaFiber high-speed home broadband services. However, some people familiar with the development have stated that the talks were at an initial stage and a deal was still at an exploratory stage. “It’s too early to say if the deal will go through or not, but RIL is aggressively pursuing it,” one of the people said. “The valuation figure being discussed is around Rs 2,500 crore,” the person added. Hathway is one of the largest Digital Cable TV and Broadband Internet Services provider in India that offers cable television services across 140 cities. It is a multi-system operator (...

Reliance Industries Acquires 37.4% Stake in California’s AI Startup

27Sep By Gauri SinghNo Comments

ACQUISITION

Reliance Industries Acquires 37.4% Stake in California’s AI Startup

Reliance Industries has invested an amount of $8 million in California-based NetraDyne. NetraDyne is an artificial intelligence company that focuses on the driver and commercial fleet safety. Prior to this, Reliance invested $16 million in June 2016 in the startup, thus, this marks as its second investment in the firm. With this investment, Reliance now has taken over around 37.4% stake in the startup. According to the statement, the investment was made through its subsidiary Reliance Industrial Investments and Holdings (RIIHL). It has subscribed to 4.06 million shares (4,058,647 shares) at Rs 1.9711 per share. Reliance said this investment has potential synergies with its "digital services and communications initiatives, apart from commercialization benefits in India." NetraDy...

Reliance Gears-up To Sell Smartphones and Electronic appliances Online

31Jul By AnkitaNo Comments

News

Reliance Gears-up To Sell Smartphones and Electronic appliances Online

India's largest subsidiary of Mukesh Ambani’s Reliance Industries retail chain, Reliance Retail has make its way to online sales of smartphones and electronic appliances such as refrigerators, air conditioners, and televisions. Reliance Retail is the online extension platform of Reliance Digital, a consumer durables and information technology concept. Reliance Digital with 305 stores as of June and 4,530 smaller Jio stores will act as fulfilment centres for the online orders According to reports, Reliance was gearing up for online sales of mobile phones and consumer electronics for its employees for over a year. The commercial operation has just been launched across India. While this is an omni-channel expansion of Reliance Digital,which will focus on making the online operation s...

30Jul By Gauri SinghNo Comments

Story

The Top 5 Corporate Fights in India

Corporate rivalries are a big part of an economy. They are quite prevalent all over the world in every possible sector. However, in India, it is mostly kept restricted to the boardrooms. In most of the developed economies, the rivals fight fiercely in open and create an amusing sight for the public. An example of this rivalry can be seen recently between Tata group vs Cyrus Mistry where both parties alleges each other openly, or Unilever’s Pepsodent claiming to be better than Colgate. These fights play a vital role in building up the excitement of the people. Here, we have some of the biggest and most harsh corporate rivalries in India: 1)MUKESH AMBANI and ANIL AMBANI The most interesting and the fiercest corporate fight that India has ever witnessed is probably the one...

Mukesh Ambani Becomes Asia’s Richest Man, Defeats Jack Ma

14Jul By Gauri SinghNo Comments

News

Mukesh Ambani Becomes Asia’s Richest Man, Defeats Jack Ma

Mukesh Ambani, the chairman of Reliance Industries has achieved the position of Asia’s richest man, bringing down Alibaba’s Jack Ma to the second position. According to the reports, Ambani's estimated total wealth amounted to around $44.3 billion after Reliance shares rose 1.6%. The business tycoon added $4 billion to his wealth in 2018. On the other hand, Jack Ma lost $1.4 billion in the same year. The market valuation of the company raised powerfully over Rs 7 lakh crore mark during the morning trade on Friday. Reliance Industries crossed the $100 billion market capitalization mark, and this was its debut in the last 10 years. “We need to broaden our horizon of expectation with Reliance,” said Nitin Tiwari, a Mumbai-based analyst at Antique Stock Broking. “They are in for somethin...

Reliance Industries to Acquire Telecom Solutions firm Radisys Corporation

30Jun By Lavina TolaniNo Comments

ACQUISITION

Reliance Industries to Acquire Telecom Solutions firm Radisys Corporation

Reliance Industries is gearing to acquire Nasdaq listed telecom solutions provider Radisys Corporation for a whopping $75 million i.e approx (Rs. 510 crores), a move that would push it into an Internet of Things and 5G through Reliance Jio Infocomm. According to the sources, RIL will pay $1.72 per share in cash for the buyout which will bolster Mukesh Ambani owned company's positioning as a telecom company. In its official company statement, Reliance Jio director Akash Ambani said, "This acquisition further accelerates (Reliance) Jio’s global innovation and technology leadership in the areas of 5G, IOT and open source architecture adoption." Speaking on the development, Akash Ambani further said, "Radisys top-class management and engineering team offer Reliance rapid innovat...

Reliance Brands Eyeing to Take Over a Popular Luxury Group

18Jun By Gauri SinghNo Comments

ACQUISITION

Reliance Brands Eyeing to Take Over a Popular Luxury Group

Reliance Brands, a subsidiary of Reliance Industries Ltd. is eyeing to fully acquire Genesis Luxury Fashion Pvt Ltd. which is a unit of Genesis Colors involved in the marketing and distribution of International Luxury labels for an estimated amount of Rs 450 crore. Genesis Luxury comes under India’s top luxury groups and this acquisition is sure to give a boost to the business of Reliance Brands. This step may also help Reliance to build a dominant space in the emerging luxury market of the country. According to the reports, last year, Reliance Brands had purchased a 46.6% stake in Genesis Luxury from Singapore-based private equity firm L Catterton Asia. And now, the company is in the advanced stage to acquire it wholly. Genesis Luxury Fashion, launched in the year 2008 is involve...

Mukesh Ambani’s Reliance Industries Plans To Hit The E-Commerce Sector

15Jun By Gauri SinghNo Comments

News

Mukesh Ambani’s Reliance Industries Plans To Hit The E-Commerce Sector

India’s business tycoon Mukesh Dhirubhai Ambani-led Reliance Industries has its major plans to enter the country’s e-commerce market which is worth $200 Billion. The company aims to join offline as well as online buying experience for its customers. It is being reportedly stated that the plan will be carried forward by combining two units of Reliance Industries Ltd (RIL) namely Reliance Jio Infocomm Ltd and Reliance Retail Ltd. The company aims to build an e-commerce space established on O2O (online-to-offline) market programme and bring local merchants on board boosting up their sales with the help of this plan. The O2O model helps to drag customers from online medium to buy products from offline channels. "Demand is going to come from tier 2 and 3 and 4 towns and cities. Then you nee...