Abhishek Securities

Reliance Retail  is in advanced negotiation with American private equity investor  Silver Lake  to sell 1.7-1.8% stake in the entity for about Rs 7500 crore, in what could be the first such deal in the  Mukesh Ambani  owned retail giant to raise funds, two senior industry executives said. The story was first reported by the Financial Times late Thursday evening. If this deal materialises, it potentially values Reliance Retail at over Rs 4.3 lakh crore. The executives said  Ambani  wants to raise funds by selling minority stakes in Reliance Retail and is in talks with multiple investors. When contacted, a Reliance Retail spokesperson said the company as a policy does not comment on media speculation and rumours. “Our company evaluates various opportunities on an ongoing basis. We have made and will continue to make necessary disclosures in compliance with our obligations under Securities Exchange Board of India (Listing Obligations and Disclosure ...

Kishore Biyani  and his family members are barred from re-entering the retail space for the next 15 years under a non-compete clause as part of  Reliance Retail ’s buyout of  Future Group ’s assets, said two people with knowledge of the matter.   “As per the deal contours, neither Biyani nor his immediate family members can operate in any retail segment,” said one of the persons. “There is, however, an exception, of home retailing, where Reliance has no presence so far. The deal is applicable for all existing retail businesses both online and offline.”   Biyani owns Praxis Retail, a separate entity that runs about 48 HomeTown stores with a revenue of Rs 702 crore in the last fiscal. It isn’t part of the deal with Reliance.  Reliance Retail and Future Group  did not respond to queries.   Most non-compete agreements run for three-five years but financial compulsions may have led to a longer period, experts said. “It is also fairly common...

JioMart, Reliance Industries Limited's lastest services of delivering groceries from neighbourhood  kirana stores has been temporarily suspended according to news reports. Over a month ago, JioMart went live on WhatsApp for delivery in the Mumbai suburbs  of Thane, Navi Mumbai and Kalyan, however,the pilot run of the ambitius project was paused due to shortage of delivery staff. Owners of several provisional stores, which were roped in by JioMart for the projects,said the services have been suspended as they were unable to deliver orders. Sandip Ginodia , Director   A LTIUS INVESTECH PVT LTD | ABHISHEK SECURITIES 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