Category: Reliance

India’s Reliance Retail to acquire Future Group’s retail, wholesale, and logistics businesses for $3.4 billion
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India’s Reliance Retail to acquire Future Group’s retail, wholesale, and logistics businesses for $3.4 billion

Reliance Retail, India’s largest retail chain, has found a much simpler way to expand its dominant position in the country: Acquire most of the second largest bricks-and-mortar retailer. On Saturday evening (local Indian time), Reliance Retail said it has reached an agreement with Future Group to acquire the latter’s retail and wholesaler business, and its…

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India’s Reliance Jio Platforms to sell $750 million stake to Abu Dhabi Investment Authority
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India’s Reliance Jio Platforms to sell $750 million stake to Abu Dhabi Investment Authority

Mukesh Ambani has courted the seventh major investor for his telecommunications business in just as many weeks. On Sunday, Reliance Jio Platforms said it will sell a stake of 1.16% for $750 million to Abu Dhabi Investment Authority (ADIA), continuing its eye-catching run of investments at the height of a global pandemic. The three-and-a-half-year-old digital…

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Reliance and Facebook pilot JioMart orders on WhatsApp
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Reliance and Facebook pilot JioMart orders on WhatsApp

JioMart, an e-commerce venture run by India’s most valued firm, is testing an “ordering system” on WhatsApp, teasing the first peek at the collaboration between Facebook and Indian telecom giant Reliance Jio Platforms. Users in Navi Mumbai, Thane and Kalyan, three sub-urban areas of Mumbai, can now use JioMart’s WhatsApp business account for grocery shopping.…

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Reliance Industries acquires a majority stake in SaaS startup NowFloats for $20M
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Reliance Industries acquires a majority stake in SaaS startup NowFloats for $20M

Reliance Industries, one of India’s largest industrial houses, has acquired a majority stake in NowFloats, an Indian startup that helps businesses and individuals build online presence without any web developing skills. In a regulatory filing on Thursday, Reliance Strategic Business Ventures Limited said (PDF) it has acquired an 85% stake in NowFloats for 1.4 billion Indian…

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India’s Reliance Jio inks deal with Microsoft to expand Office 365, Azure to more businesses; unveils broadband, blockchain, and IoT platforms
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India’s Reliance Jio inks deal with Microsoft to expand Office 365, Azure to more businesses; unveils broadband, blockchain, and IoT platforms

India’s richest man’s Reliance Jio, which has disrupted the local telecom and features phone markets in less than three years of its existence, is ready to foray into many more businesses. In a series of announcements Monday, that included a long-term partnership with global giant Microsoft, Reliance Jio said it will commercially roll out its broadband…

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India’s Reliance to buy majority stake in Google-backed Fynd for $42.3M
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India’s Reliance to buy majority stake in Google-backed Fynd for $42.3M

Indian conglomerate Reliance Industries is acquiring 87.6% stake in Fynd, a seven-year-old Mumbai-based startup that connects brick and mortar retailers with online stores and consumers, for 2.95 billion Indian rupees ($42.33 million), the two said in a brief statement late Saturday. Fynd, which was founded in 2012, helps offline retailers sell their products to consumers…

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