Skip to main content

Reliance Industries Taps Facebook, KKR For Investment In Retail Biz




 

Mukesh Ambani-led Reliance Industries Ltd (RIL) has initiated preliminary negotiations with Facebook and private equity fund KKR for investment in its retail business. The two companies already own stakes in RIL's Jio platforms. Facebook and KKR are among 13 investors that pumped in over $20 billion in Jio platforms for an over 30 per cent stake.

RIL has reportedly invited these stakeholders to also put in money in Reliance Retail once the monetisation process of the company begins following the acquisition of Kishore Biyani-led Future Group's retail business.

Sources told Business Standard that while discussions are on, there is no guarantee if the deal will come through as it will be predicated on expected valuations of Reliance Retail after the acquisition of the Future Group companies.

American private equity investor Silver Lake Partners is also reportedly holding talks and is eyeing a $1 billion investment in Reliance Retail.

Meanwhile, responding to the speculation, a Reliance spokesperson told the publication that the company does not comment on "media speculation and rumours...as a policy".

Facebook is the largest investor among all 13 strategic investors in Jio platforms, holding a 9.9 per cent stake worth Rs 43,574 crore.

The social media giant has an alliance in the retail business of the Ambanis, who are the promoters of Reliance.

Private equity investor KKR has picked up a 2.32 per cent stake for Rs 11,367 crore in Jio platforms whose other investors are Google, Intel, Qualcomm, Vista Equity PartnersAbu Dhabi Investment Authority, and Mubadala.

Sandip Ginodia , CEO

 

ALTIUS INVESTECH PVT LTD

 

We deal in over 60 unlisted companies with 15 years of experience 

For latest prices visit : www.abhisheksecurities.com/unlisted.htm / call : 09830271248 .

Email : ginodiasandip1@gmail.com

Comments

Popular posts from this blog

Reliance's JioMart is averaging half a million orders per day; WhatsApp driving growth

  JioMart , Reliance's online-to-offline commerce  platform that launched in May , has scaled up rapidly, riding on the pandemic-fuelled digital acceleration. The service, which went   live in 200 cities across India, is currently processing an average of  500,000 orders per day. " We can go even higher on peak days",  Jio Platforms CEO   Kiran Thomas  revealed at the Facebook for Fuel India 2020 event. He said, "JioMart is empowering millions of  kiranas  and small merchants through the simple and secure platform of WhatsApp, and linking them to Reliance Retail's pan-India supply chain. We expect to grow manifold in future, and are optimistic about enabling new cohorts of users and making it easier for them to shop for daily essentials."  "Customers are transacting seamlessly on JioMart and the  conversational nature of the service  enabled by WhatsApp has made people adapt to it intuitively," he added. Reliance also stated that it will continue t

Stock broker SMC Global files for IPO

F inancial services company SMC Global Securities has filed draft red herring prospectus with SEBI for public issue of 1,58,67,380 equity shares of face value of Rs 2 each. The issue comprises a fresh issue of 79,33,690 equity shares by the company and an offer for sale of 79,33,690 shares by Millennium India Acquisition Company Inc. As of September 30, 2012, "We service our broking clients through a network of 43 branches and 2,521 registered sub-brokers and authorized persons spread in more than 500 cities and towns. We have also established an office in Dubai for brokerage and trading activities in that region," the company said. SMC has reported a loss of Rs 0.42 crore and total revenues of Rs 292.24 crore in the year ended March 31, 2012. "The proceeds of the fresh issue shall be utilised for margin maintenance with stock exchanges; part repayment of term loan; investments into subsidiary, SMC Comtrade; and general corporate purposes," according to p

Zomato, Swiggy score 1/10 on working conditions for their workers – ET Retail

Some of India's biggest startups have ranked near the bottom when it comes to  working conditions  for their gig  workers , according to a report released Wednesday. While  Swiggy ,  Zomato  and Uber India scored 1/10, Urban Company and Flipkart’s logistics arm EKart scored the highest 8/10 and 7/10, respectively, ‘ Fairwork India Ratings  2020: Labour Standards in the Platform Economy’  showed . The report assessed the companies on five principles: fair play, fair conditions, fair contracts, fair management, and fair representation. Deepinder Goyal, chief executive officer of Zomato Media Pvt. Ltd., acknowledged the ratings on Twitter. “Zomato ranked at the bottom of 2020 Fairwork India scores. We knew we had things to work on, but we didn’t know that there is so much room for improvement.” The company takes full responsibility and “will leave no stone unturned to perform better in the rankings next year,” he added. Zomato received a 4/10 in last year's report. According t