Abhishek Securities

  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 th...

  Future Enterprises Ltd   NSE 1.75 %  (FEL) is planning to prepay the  debentures  issued by the company from the money to be received after selling its retail and other businesses to  Reliance Industries   NSE 0.07 % ' step down firm  Reliance Retail Ventures . The company has proposed to utilise the consideration received from the Rs 24,713 crore deal for pre-payment of the Non-Convertible Debentures (NCDs), FEL said in a regulatory filing. FEL is convening a meeting of its debenture-holders of Series XV on January 7 next year to consider and approve prepayment of debentures and amendment of  the Debenture Trust Deed . “As part of the overall reorganisation proposal, the company proposes to utilise the consideration to be received from  Reliance  entities from slump sale of the business undertakings, to prepay the various NCDs the company has issued and one of the NCDs proposed to be prepaid is NCD-XV, viz the debentures he...

  After raising more than   ₹ 47,000 crore through stake sales to global investors,   Reliance Retail   Ventures Ltd (RRVL) is expanding its private grocery labels and pushing into smaller towns. While the company’s current valuation of close to  ₹ 5 trillion may appear expensive to some investors, industry experts said its private grocery labels will start delivering higher margins soon. Reliance Retail is already India’s largest retailer, both in terms of store count and revenue ($22 billion in FY20), and caters to 80% of households’ consumption needs such as apparel, footwear, jewellery, consumer electronics and telecom. We expect core retail revenue to grow 2X/2.4X over FY20-25, with grocery at the centre of the growth narrative, accounting for over 50% of incremental revenue," JPMorgan said in a 1 December note, adding that its online venture, JioMart, has a high chance of capturing a meaningful share in the Indian e-commerce market as online grocery is exp...

  Markets regulator Sebi  has sought some "clarification" from leading  stock exchange BSE  before giving its go-ahead to the Rs 24,713 crore deal between  Future group  and Mukesh Ambani's Reliance Industries Ltd. In an update on November 27, the regulator said it is awaiting a reply to the "clarification" sought from the stock exchange on the draft composite scheme of arrangement between Future Group companies and Reliance Group companies. When contacted, a BSE spokesperson on Thursday said, "in the draft composite scheme of arrangement between Future Group and Reliance Group till date Sebi has not sought any clarification from BSE with regard to the NOC". The bourse gave its NOC (No Objection Certificate) for the scheme on November 6. Scheme of arrangement is a court-approved agreement between a company and its shareholders or creditors. According to sources, there are certain complaints registered on Sebi's SCORES platform which are yet to be r...

  Jeff Bezos  and Mukesh Ambani, two of the world's richest men, face a turning point in a battle for preeminence in India's booming, nearly trillion-dollar retail market. The outcome of a legal dispute which has embroiled the billionaires'  Amazon. com and Reliance Industries Ltd empires - where a court ruling is imminent - may shape India's retail landscape for years to come. The winner in the fight for Future Retail Ltd, Amazon's estranged local partner, will get pole position in the race to meet the daily needs of more than a billion people. Accusations of insider trading and contractual breaches, as well as nationalistic cries to keep the U.S. giant at bay, mark the high-stakes fight, which has snowballed from what began as a dispute between  Amazon  and Future. If  Amazon  succeeds, it may slow Reliance's plans to expand its e-commerce and brick-and-mortar operations. If Amazon loses, its hopes of expanding its interests in India's second-largest...

  Aiming to boost the income of local artisans under 'Vocal for Local' mission, Reliance Retail Ltd showcased more than 40,000 artisan-crafted products from over 50 GI clusters to its customers this festive season. The firm said under its three-year old flagship initiatives - “Indie by AJIO” and “Swadesh”, it now engages with more than 30,000 craftsmen, representing over 600 art forms across a wide spectrum of clothing, textiles, handicrafts, and handmade natural goods. "We are delighted that our development efforts over the last few years are now bearing strong results both in our ability to engage with an increasing number of craftsmen as well as our ability to co-create and co-curate products that are being increasingly accepted by today’s consumers," Reliance Fashion & Lifestyle President Akhilesh Prasad said. Reliance Retail also said its success in bringing such a huge repertoire of traditional handcrafted products to its modern retail formats is also an ind...

  In a huge setback for e-commerce giant Amazon, Competition Commission of India (CCI) on Friday approved the much-anticipated   Future Group-Reliance Retail deal . "Commission approves acquisition of retail, wholesale, logistics & warehousing businesses of   Future Group   by Reliance Retail Ventures Limited and   Reliance Retail   and Fashion Lifestyle Limited," CCI said in a tweet. Mukesh Ambani-led Reliance Industries Ltd in August acquired the businesses of Kishore Biyani's Future Group for   ₹ 24,713 crore to add to its fast expanding retail business. Reliance Retail will now have access to close to 1,800 stores across Future Group's Big Bazaar, FBB, Easyday, Central, Foodhall formats, which are spread in over 420 cities in India. The acquisition is being done as part of the scheme in which Future Group is merging certain companies carrying on the aforesaid businesses into Future Enterprises Limited (FEL). The retail and wholesale undertaking...

  Reliance Industries Ltd’s subsidiary Reliance Retail Ventures Ltd has purchased 96% stake in online home decor company UrbanLadder for Rs 182.12 crore. This is the company’s fourth acquisition this year after Coimbatore-based Kannan Departmental Store in March, and e-pharmacy Netmeds and Future Retail’s assets in August. What are the details of the deal? Reliance Retail has bought the 96% stake in the Bengaluru-based UrbanLadder from its existing investors including Sequoia Capital India, Kalaari Capital, and Steadview Capital, who have cumulatively invested around $115 million (around Rs 700-750 crore) since the company’s launch in 2012. This represents a significant markdown in valuation of UrbanLadder, which was only second to its Pepperfry in the online furniture segment. Reliance Retail also has the option of acquiring the balance stake, taking its shareholding to 100% of the equity share capital of UrbanLadder. It said that it would further invest Rs 75 crore in UrbanLadder...