Reliance Industries acquires Shubhalakshmi Polyesters for Rs 1,592 crore
NEW DELHI: Reliance Petroleum Retail (under name change to ‘Reliance Polyester’), a wholly-owned subsidiary of Reliance Industries, on Saturday acquired the polyester business of Shubhalakshmi Polyesters (SPL) and Shubhlaxmi Polytex (SPTex) for Rs 1,522 crore and Rs 70 crore, respectively, in cash. The acquisitions are subject to approval by the Competition Commission of India (CCI) […]
Reliance Industries to invest Rs 6 lakh crore in green energy, other projects in Gujarat
NEW DELHI: Billionaire Mukesh Ambani-led Reliance Industries will invest Rs 5.95 lakh crore in green energy and other projects in Gujarat over the next 10-15 years as it looks to accelerate the clean energy business by building giga-factories. The oil-to-telecom conglomerate will invest Rs 5 lakh crore in the state to set up 100 gigawatts […]
Seven of top-10 most valued firms add over Rs 1.15 lakh crore to m-cap; RIL lead gainer
NEW DELHI: Seven of the top-10 most valued companies together added Rs 1,15,898.82 crore in market valuation last week, with Reliance Industries grabbing the top spot. Last week, the 30-share BSE Sensex jumped 677.17 points or 1.31 per cent. Reliance Industries, HDFC Bank, Hindustan Unilever, HDFC, State Bank of India, Bajaj Finance and Kotak Mahindra […]
Eight of top-10 most valued firms add over Rs 1.39 lakh crore in m-cap; Reliance Industries tops chart
NEW DELHI: Eight of the top-10 most valued companies together added Rs 1,39,566.52 crore in market valuation last week, with Reliance Industries, TCS and Infosys emerging as top performers. On a weekly basis, the BSE benchmark Sensex gained 882.40 points or 1.74 per cent. Only Hindustan Unilever and Bajaj Finance saw losses in their market […]
Reliance Industries to invest up to $50 million in Breakthrough Energy
NEW DELHI:Reliance Industries Limited (RIL) announced on Thursday that it has entered into a definitive agreement for making capital contribution of up to $50 million in Breakthrough Energy Ventures II, L.P. (BEV), a limited partnership, newly incorporated under the Delaware State Laws, the US. The capital contribution commitment of $50 million constitutes 5.75 per cent […]
Reliance Industries to appeal in Supreme Court against SAT ruling
NEW DELHI: Reliance Industries Limited (RIL) on Thursday said it will challenge in Supreme Court the dismissal of its plea by the Securities Appellate Tribunal (SAT) against a Sebi ruling barring the firm and 12 of its promoter group entities from dealing in equity derivatives for alleged unfair trade practices. SAT, by a 2:1 majority […]
KKR picks up 1.28 per cent stake in Reliance Retail for Rs 5,550 crore
NEW DELHI: Reliance Industries Limited (Reliance Industries) and Reliance Retail Ventures Limited (RRVL) announced today that global investment firm KKR will invest Rs 5,550 crore into RRVL, a subsidiary of Reliance Industries. This investment values Reliance Retail at a pre-money equity value of Rs 4.21 lakh crore. KKR’s investment will translate into a 1.28% 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 strikes 5th deal, sells 2.32 per cent in Jio Platforms for Rs 11,367 crore to KKR
NEW DELHI: Reliance Industries Limited and Jio Platforms Limited (Jio Platforms), India’s leading digital services platform, announced today that KKR will invest Rs 11,367 crore into Jio Platforms. This transaction values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. This is KKR’s largest […]
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 […]
Facebook to invest Rs 43,574 crore for 10% in Jio Platforms
NEW DELHI:Reliance Industries Limited, Jio Platforms Limited and Facebook today announced the signing of binding agreements for an investment of Rs 43,574 crore by Facebook into Jio Platforms. This investment by Facebook values Jio Platforms at Rs 4.62 lakh crore pre-money enterprise value ($65.95 billion, assuming a conversion rate of Rs 70 to a US […]
Mukesh Ambani’s plan to make Reliance debt-free by 2021 hits multiple snags
By P R Sanjai NEW DELHI: Six months after Mukesh Ambani laid out a road map to make Reliance Industries free of net debt by early 2021, his plan has hit a few bumps thanks to the government. Prime Minister Narendra Modi’s administration has petitioned a court to halt a proposed stake sale by Reliance […]
Mukesh Ambani to set up Alphabet-like $15 billion digital company
NEW DELHI: Reliance Industries Limited (RIL), controlled by Asia’s richest man Mukesh Ambani, will set up a holding company on the lines of Alibaba Group Holdings and Alphabet that will create digital services and allow for a strategic or financial investor. The oil-to-retail conglomerate will infuse Rs 1.08 trillion ($15 billion) in the new company […]
Reliance Industries to pump Rs 1.08 lakh crore in new digital services subsidiary
NEW DELHI: Reliance Industries Ltd (RIL) on Friday said its board has approved the formation of a wholly-owned subsidiary for digital platform initiatives and investment of Rs 1.08 trillion in the unit. The subsidiary will also acquire RIL’s equity investment of Rs 65,000 crore in Reliance Jio Infocomm Ltd (RJIL), it said in a regulatory […]
Reliance Industries, BP take over Niko’s 10% stake in KG-D6 block
NEW DELHI: Reliance Industries Limited (RIL) and UK’s BP plc have taken over the 10 per cent shareholding of their partner Niko Resources in the eastern offshore KG-D6 block after the Canadian firm defaulted on paying for its share of gas field development cost. Sources with knowledge of the development said the oil minister has […]