Does Amazon intend to get into brick-and-mortar retail, or are these tactical moves to scuttle competition to remain a dominant player in one of the world’s fastest growing retail markets?
Money in the hands of the working population that has strived more than the usual due to pandemic, especially during the festive season, is bound to increase spending
RIL’s decision to roll back pay cuts could create a ripple effect prompting other corporates to follow suit, and, this could spur the economy and give Aatmanirbhar Bharat a shot in the arm
This development puts India in a niche club of few countries like US, South Korea, Australia, Switzerland and Germany that offer 1 Gbps speeds to 5G users.
Finance Minister Nirmala Sitharaman also said the Centre would come out with fresh growth and budgetary estimates for the COVID-19 pandemic-hit 2020-21.
Earlier this month, the firm had announced the deal with the investment equity firm which valued Reliance Retail at a pre-money equity value of Rs 4.285 lakh crore.
Last month, the firm had announced the deal with the private equity firm which valued Reliance Retail at a pre-money equity value of Rs 4.21 lakh crore.
Mukesh Ambani's Reliance Retail has now raised a combined Rs 37,710 crore from leading global investors such as Silver Lake, KKR, General Atlantic, Mubadala, GIC, TPG and ADIA in less than four weeks.
This marks the second investment by TPG in a subsidiary of Reliance Industries, after a Rs 4,546.8 crore investment in Jio Platforms announced earlier this year. Reliance Retail has so far raised Rs 32,197.5 crore from a clutch of global investors in exchange for a combined 7.28 percent stake.
Reliance Retail Deal: Sixth deal in recent weeks underlines growing interest from global investors in retail division of Mukesh Ambani-controlled Reliance Industries.
Fifth deal in three weeks underscores growing investor interest in retail division of Mukesh Ambani-controlled Reliance Industries.
Silver Lake-Reliance Retail Deal: This latest investment values Reliance Retail at a pre-money equity value of ₹ 4.285 lakh crore.
Earlier in 2020, General Atlantic had invested Rs 6,598.38 crore in Jio Platforms, the telecom unit of Reliance Industries.
General Atlantic has approximately $34 billion in assets under management as of March 31, 2020
This investment from KKR in Reliance Retail comes weeks after another private equity giant Silver Lake Partners had picked up a 1.75 percent stake for Rs 7,500 crore in the RIL unit.
KKR & Co will invest Rs 5,500 crore in Reliance Retail in exchange for a 1.28 percent stake.
Second deal by Mukesh-Ambani-controlled Reliance Industries Ltd retail unit in as many weeks will help it widen lead over competitors such as Amazon and Walmart-owned Flipkart as India’s largest retailer.
Reliance Retail-Silver Lake deal: Private equity giant signs deal with RIL retail unit after its investment in Jio Platforms earlier this year.
The acquisition will also allow RIL to step up its retail footprint in states and territories where it currently does not have a significant presence.
This is the single largest foreign investment in an Indian infrastructure vehicle
With this deal, Future brings on table Big Bazaar, Fashion at Big Bazaar, Easy Day and Brand Factory. The deal is likely to provide Reliance Retail an additional store strength of around 18,000 across grocery and lifestyle segments.
Biyani was looking for a knight in shining armour, went pillar to post for selling his beleaguered businesses. He held marathon meetings with potential suitors who could bail him out.
Silver Lake Partners is investing Rs 7,500 crore in Reliance Retail in exchange for a 1.75 percent stake.
Reliance Industries has acquired a 60 percent stake in the online pharmacy for Rs 620 crore. The deal values Netmeds at around Rs 1,000 crore.
The acquisition gives RIL’s digital unit Reliance Jio entry into another vertical ecommerce space, one of the few that has soared during the COVID-19 pandemic, in addition to its online grocery platform JioMart