TCS’ market valuation crosses Rs 12 trillion-mark helped by rally
NEW DELHI: The market valuation of Tata Consultancy Services (TCS) crossed Rs 12 trillion-mark at close of trade on Thursday, helped by a rally in its share price. TCS topped the gainers’ chart on Sensex, rising 2.89 per cent to close at Rs 3,250.15 on the BSE. During the day, it jumped 3.42 per cent […]
Reliance Retail completes fund raise of Rs 47,265 crore for 10.09% stake
NEW DELHI :Reliance Industries Limited (RIL) and Reliance Retail Ventures Limited (RRVL) have completed the current phase of partner induction and fund raise exercise for RRVL. Accordingly, the RRVL has received cumulative subscription amount of Rs 47,265 crore from its financial partners and allotted 69,27,81,234 equity shares to them. The largest fund raise exercise in […]
Silver Lake to invest Rs 7,500 crore in Reliance Retail
NEW DELHI:Reliance Industries Limited (RIL) on Wednesday announced that Silver Lake will invest Rs 7,500 crore into Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries. This investment values RRVL at a pre-money equity value of Rs 4.21 lakh crore. Silver Lake’s investment will translate into a 1.75% equity stake in RRVL on a […]
Mukesh Ambani takes on Amazon, Walmart in e-commerce gamble
Backed by multi-billion-dollar investments from global tech giants, India’s richest man is ready to rumble with Amazon and Walmart for the country’s huge e-commerce market through his conglomerate Reliance. But it is far from certain that Mukesh Ambani’s latest gamble will pay off in a crowded market where many suppliers are not well-versed in digital […]
L Catterton to invest Rs 1,894.50 crore in RIL’s Jio Platforms
NEW DELHI: Reliance Industries Limited and Jio Platforms Limited, India’s leading digital services platform, today announced an investment of Rs 1894.50 crore by L Catterton, one of the world’s largest consumer focused private equity firms. This investment values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs […]
Abu Dhabi’s Mubadala to invest Rs 9093.6 crore in Reliance Jio platforms
NEW DELHI: Billionaire Mukesh Ambani-led Reliance Industries Limited (RIL) said that that Mubadala Investment Company (Mubadala), the Abu Dhabi-based sovereign investor, will invest Rs 9,093.60 crore in Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. Mubadala’s investment will translate into a 1.85% equity […]
At over Rs 53,000 crore,Reliance Industries Limited achieves successful closure of India”s biggest rights issue
NEW DELHI:Reliance Industries Limited (RIL) on Wednesday said that it has achieved successful closure of India”s largest-ever ”Rights Issue” of Rs 53,124.20 crore. Accordingly, the issue was subscribed approximately 1.59 times, cumulating to an overall commitment of over Rs 84,000 crore. “The Rights Issue saw a huge investor interest, including from lakhs of small investors […]
Reliance Industries’ slew of equity deals to drive improvement in Co rating: Fitch
NEW DELHI: Reliance Industries Limited’ proposed USD 7 billion rights issue, a string of equity deals of USD 8 billion in Jio Platforms, and USD 1 billion from a joint venture with BP plc will allow its leverage to improve, Fitch Ratings said on Wednesday. “The rights issue and equity deals when completed are likely […]
Reliance Industries fixes May 14 as record date for rights issue
NEW DELHI: Oil-to-telecom conglomerate Reliance Industries Ltd (RIL) has fixed May 14 as the record date for determining shareholders eligible to apply for India’s biggest rights issue of Rs 53,125 crore. Billionaire Mukesh Ambani’s firm had on April 30 announced fund raising of Rs 53,125 crore by way of a 1:15 rights issue, the first […]
Saudi, US companies also eyeing stakes in Reliance’s Jio Platforms
NEW DELHI: Two more companies are said to be eyeing stakes in Reliance Jio Platforms, the $65-billion digital unit of Mukesh Ambani-controlled Reliance Industries, suggests a Bloomberg report. If these deals materialise, they would add to a growing list of firms that have recently invested in the Indian company. US private equity firm General Atlantic […]
Vista Equity to invest $1.5 billion in Reliance’s digital arm
NEW DELHI: India’s Reliance Industries Ltd (RIL) on Friday announced a $1.5 billion (Rs 11,367) stake sale in digital unit Jio Platforms, a third deal in a little over two weeks that will inject a combined $8 billion in the telecoms-to-energy group to help it pare debt. Private equity firm Vista Equity Partners is buying […]
Silver Lake to invest Rs 5,655 crore in RIL’s Jio Platforms
NEW DELHI: Reliance Industries Limited (RIL) and Jio Platforms Limited (Jio Platforms) announced today that Silver Lake will invest Rs 5,655.75 crore into Jio Platforms. This investment values Jio Platforms at an equity value of Rs 4.90 lakh crore and an enterprise value of Rs 5.15 lakh crore and represents a 12.5% premium to the […]
RIL’s consolidated Q4 net profit falls after exceptional item at Rs 6,546 crore
NEW DELHI: Reliance Industries Ltd(RIL) on Thursday reported a fall of 37.2 per cent in its consolidated net profit on an year-on-year (YoY) basis for the January-March quarter of financial year 2019-20, due to an exceptional item. The consolidated net profit during the fourth quarter of FY 2019-20 declined to Rs 6,546 crore, against Rs […]
Mukesh Ambani caps his annual salary at Rs 15 corer for eleventh year in a row
NEW DELHI: Richest Indian Mukesh Ambani has kept his annual salary from his flagship firm Reliance Industries Limited (RIL) capped at Rs 15 crore for the eleventh year on the trot. Ambani has kept salary, perquisites, allowances and commission together at Rs 15 crore since 2008-09, forgoing over Rs 24 crore per annum. This is […]
Dutch prosecutors arrest 3 for allegedly laundering $1.2 billion for Mukesh Ambani unit
NEW DELHI: Dutch investigators have arrested three former employees of a local firm suspected of laundering USD 1.2 billion through over-invoicing services and works rendered for a gas pipeline built by a unit controlled by billionaire Mukesh Ambani, a charge vehemently denied by Reliance Industries Limited (RIL). East West Pipeline Ltd (EWPL), which was previously […]
Reliance, BP get key ship on KG-D6 for expediting gas output
NEW DELHI: Reliance Industries Limited (RIL) and its partner BP plc of the UK have brought a deepsea pipeline laying ship to their Bay of Bengal block KG-D6 to help bring newer gas finds to production by 2020-21, the British firm said. Reliance-BP are targeting to bring to production the R-Series and satellite fields in […]