Reliance Retail launches fashion & lifestyle departmental store format Reliance Centro
NEW DELHI: Reliance Retail, India’s largest retailer, has announced the launch of its fashion & lifestyle departmental store format, Reliance Centro. The first Reliance Centro store was launched today in Vasant Kunj, Delhi. Reliance Centro is aimed at democratizing fashion in India, by strengthening its reach & connect with consumers in India – right from […]
Reliance Retail to grow 3x in next 3-5 years, create a million jobs: Mukesh Ambani
NEW DELHI: Reliance Industries’ retailing arm Reliance Retail would grow at least three times in the next 3 to 5 years, Chairman and Managing Director Mukesh Ambani said on Thursday. It continues to be among the fastest-growing retailers globally and the company aims to be among the top ten retailers of the world, Ambani said […]
Reliance Retail extends deadline to complete Rs 24,713 crore deal with Future Group
NEW DELHI: Reliance Retail Ventures, the retail arm of Reliance Industries, has extended the timeline for six months to complete its Rs 24,713 crore deal with Kishore Biyani-led future group to buy its retail and wholesale business. Reliance Retail Ventures Ltd (RRVL) has extended the timeline for the “Long Stop Date” from March 31, 2021 […]
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 […]
Saudi fund invests Rs 9,555 crore in Reliance Retail
NEW DELHI: Reliance Industries Limited (Reliance Industries) and Reliance Retail Ventures Limited (RRVL) announced today that The Public Investment Fund (PIF) will invest Rs 9,555 crore (approximately $1.3 billion) for an equity stake of 2.04% into RRVL, a subsidiary of Reliance Industries. This investment values RRVL at a pre-money equity value of Rs 4.587 lakh […]
Amazon takes on Future group over deal with Reliance Retail
NEW DELHI: In a major turn of events in the buyout of the businesses of the debt laden Future Group by Reliance Retail, e-commerce giant Amazon.com, Inc has stepped in and said that Future Group violated a contract with it by entering into the sale agreement with the Mukesh Ambani-led retail major. “We have initiated […]
ADIA to invest Rs 5,512 crore in Reliance Retail
NEW DELHI:Billionaire Mukesh Ambani-controlled Reliance Industries Ltd (RIL) on Tuesday announced that Abu Dhabi Investment Authority (ADIA) will invest Rs 5, 512.50 crore in Reliance Retail Ventures Limited (RRVL) for a 1.20 per cent equity stake. Like the other recent transactions, the investment values the RIL subsidiary at a pre-money equity value of Rs 4,285 […]
Reliance raises Rs 7,350 crore from GIC, TPG through retail unit stake sale
NEW DELHI:Reliance Industries Limited (RIL) on Saturday announced Rs 7,350 crore investments by Singapore sovereign wealth fund GIC and global private equity firm TPG Capital in its retail unit, taking the total fundraising in the last one month to Rs 32,197.50 crore. While GIC invested Rs 5,512.5 crore in Reliance Retail Ventures Ltd (RRVL) for […]
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 […]
RIL offers up to 40% stake in Reliance Retail to Amazon
NEW DELHI: Reliance Industries Ltd (RIL) is reported to have offered a 40 per cent stake in its retail arm worth about USD 20 billion to Amazon.com, Inc. Bloomberg News citing a source reported that “Amazon has held discussions about investing in the conglomerate’s Reliance Retail Ventures Ltd unit and has expressed interest in negotiating […]
KKR in advanced talks to invest $1 billion for stake in Reliance Retail
NEW DELHI: KKR & Co. is in advanced talks to invest at least $1 billion in the retail business of Indian billionaire Mukesh Ambani, according to people familiar with the matter, in what could be another U.S. investment in the unit following Silver Lake’s deal. KKR is in discussions for a stake in Reliance Retail […]
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 […]
Silver Lake in talks to invest $1 billion in Reliance Retail
NEW DELHI: The investment, which would value Reliance Retail at about US$ 57 billion, comes as the company is aiming to sell about 10 percent in new shares, the Financial Times reported. Silver Lake is already an investor in Reliance Jio and aggregate investment by Silver Lake is Rs 10,202.55 crore for 2.08 percent equity […]
ITC sells brand John Players to Reliance Retail
NEW DELHI: Conglomerate ITC Tuesday said it has sold its menswear brand John Players to Reliance Retail for an undisclosed amount. Besides, the Kolkata-based firm has also transferred the trademark as part of the deal. “In line with this ongoing restructuring, ITC has sold the brand John Players and related trademarks and intellectual property, and […]