Reliance Jio’s Q2 net profit logs near 3-fold jump
NEW DELHI: Telecom major Reliance Jio Infocomm on Friday reported a near three-fold rise in its standalone net profit for the July-September quarter at Rs 2,844 crore. During the same period of last year, the company had reported a consolidated net profit of Rs 990 crore. Jio’s revenue from operations during the period under review […]
RIL’s Q2FY21 consolidated net profit slips to Rs 10,602 crore
NEW DELHI: Reliance Industries Ltd (RIL) on Friday reported a decline in its consolidated net profit for the quarter ended September 30 of FY2020-21 on a year-on-year (YoY) basis due to the effect of an exceptional item. Accordingly, the company’s consolidated net profit during the first quarter of FY21 declined to Rs 10,602 crore from […]
Confidentiality clause latest flashpoint in Amazon-Future Group dispute
NEW DELHI:A confidentiality clause in the agreement between Amazon and Future Group may be the latest flashpoint in the ongoing dispute. As per the agreement between Amazon and Kishore Biyani’s Future Group companies, there is a confidentiality clause which says, “No party or person involved in any way in the creation, coordination or operation of […]
Deal with RIL in line with Indian laws, not party to agreement with Amazon: Future
NEW DELHI: After a Singapore arbitration court ordered a temporary stay on Reliance Retail’s acquisition of the debt laden Future Group’s retail business, the latter has said that the deal with Reliance Retail is in consonance with Indian laws. It further said that it is not a party to the agreement under which Amazon has […]
Future-RIL deal: Amazon gets a favourable ruling in arbitration case
NEW DELHI: Jeff Bezos-led Amazon has won a favourable ruling for its plea in Singapore against Kishore Biyani-headed Future Group striking a deal with Mukesh Ambani-led Reliance Industries Ltd (RIL). Future has been told not to proceed with its sale of shares to RIL till the outcome of the arbitration process, according to the sources. […]
RIL”s retail arm receives Rs 5,550 crore from KKR for 1.28 per cent stake sale
NEW DELHI: Reliance Industries Ltd (RIL) on Thursday said it has received Rs 5,550 crore from global investment firm KKR, which has picked up 1.28 per cent stake in its retail arm. Earlier, on September 23, RIL had announced that KKR will make the investment in its subsidiary Reliance Retail Ventures Ltd (RRVL) to buy […]
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 […]
Silver Lake Co-Investors to invest additional Rs 1,875 crore in Reliance Retail Ventures
NEW DELHI: Reliance Industries Limited (Reliance Industries) and Reliance Retail Ventures Limited (RRVL) announced today that co-investors of Silver Lake will invest an additional Rs 1,875 crore into RRVL, a subsidiary of Reliance Industries. This brings the aggregate investment by Silver Lake and its co-investors in RRVL to Rs 9,375 crore, which will translate into […]
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 […]
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 […]
RIL profit jumps 31% to Rs13,248 crore in June quarter
NEW DELHI: Reliance Industries Ltd (RIL) on Thursday reported record net profit of Rs 13,248 crore in June quarter after one-time gain from stake sale and bumper telecom revenues cushioned Covid-hit earnings from refining, petchem and retail segments. The net profit in April-June was 30.6% higher than it was in the same period a year […]
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 […]
Google to invest Rs 33,737 crore in Jio Platforms
NEW DELHI: Reliance Industries Limited, Jio Platforms Limited (Jio Platforms) and Google LLC (Google) today announced the signing of binding agreements for an investment of Rs 33,737 crore by Google into Jio Platforms. This investment by Google values Jio Platforms at an equity value of Rs 4.36 lakh crore. Google’s investment will translate into a […]
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 […]