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…
If your venture fund was not one of the ten investors that backed Reliance Jio Platforms in recent weeks, you won’t be able to plough cash into the fast-growing top Indian telecom network for at least a few quarters now as it is no longer scouting for fresh deals. Reliance Jio Platforms, which has raised…
Speaking of Reliance Jio Platforms, the top Indian telecom operator said on Saturday it has secured another investment. L Catterton, a U.S. private equity firm will invest $250 million for a 0.39% stake in Jio Platforms, becoming the ninth investor to back the Indian firm at the height of a global pandemic. L Catterton, a…
American private equity firm TPG said on Saturday it will invest $600 million in Jio Platforms, joining a roster of high-profile investors including Facebook and Silver Lake that have backed India’s top telecom operator at the height of a global pandemic. TPG said it is acquiring a 0.93% stake in Jio Platforms, giving the Indian…
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…
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.…
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…
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…
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…
