Reliance Retail – The News Desk

Reliance profit surges 30% to nearly Rs 20k crore in September quarter

27Oct

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Business

Reliance profit surges 30% to nearly Rs 20k crore in September quarter

MUMBAI: Reliance Industries reported a 30% rise in its consolidated net profit of Rs 19,878 crore in the September quarter as compared to Rs 15,332 crore in the year-ago quarter. The energy-to-retail major's results got a boost from a sharp uptick in oil & gas revenues and strong growth in retail and digital services. RIL's consolidated revenue in Q2 stood at nearly Rs 2.6 lakh crore, up 1.2% from Rs 2.5 lakh crore in the previous year.The numbers reported by India's most valued company on Friday were in line with expectations, market players said."Strong operational and financial contribution from all business segments has helped Reliance deliver another quarter of robust growth," Mukesh Ambani, chairman & MD, RIL said in a statement.At Rs 77,148 crore, Reliance Retail's gross re...

ADIA to Invest Rs 4,966.80 Crore in Reliance Retail for 0.59% Stake

6Oct

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Business

ADIA to Invest Rs 4,966.80 Crore in Reliance Retail for 0.59% Stake

Abu Dhabi Investment Authority will invest Rs 4,966.80 crore into Reliance Retail Ventures Limited for a 0.59 percent stake in the company, said Reliance Industries on Friday. “This investment values RRVL at a pre-money equity value of Rs 8.381 lakh crore ($100.83 billion), which makes it among the top four companies by equity value in the country,” Reliance Industries said in a regulatory filing.This investment by a wholly-owned subsidiary of Abu Dhabi Investment Authority (ADIA) “will translate into an equity stake of 0.59 percent” in Reliance Retail Ventures Limited (RRVL) on a fully diluted basis, it added.RRVL is the holding company of the retail business of RIL, which operates an integrated omnichannel network of over 18,500 stores and digital commerce platforms across grocery, cons...

Reliance Retail to raise Rs 4,966.80 crore from Abu Dhabi Investment Authority

6Oct

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Business

Reliance Retail to raise Rs 4,966.80 crore from Abu Dhabi Investment Authority

NEW DELHI: Mukesh Ambani's Reliance Retail Ventures said on Friday that Abu Dhabi Investment Authority (ADIA) would invest Rs 4,966.80 crore ($597.58 million) in the company at a valuation of $100.8 billion.The investment by ADIA will translate into a stake of 0.59% in the company, the retail unit of oil-to-retail conglomerate Reliance Industries said in a regulatory filing.Reliance Retail has attracted investments from private equity firm KKR & Co and Qatar Investment Authority (QIA) in recent months.!(function(f, b, e, v, n, t, s) { function loadFBEvents(isFBCampaignActive) { if (!isFBCampaignActive) { return; } (function(f, b, e, v, n, t, s) { if (f.fbq) return; n = f.fbq = function() { n.callMethod ? n.callMethod(...arguments...

Mukesh Ambani’s Reliance Retail Ventures to raise $598 million from ADIA

6Oct

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Business

Mukesh Ambani’s Reliance Retail Ventures to raise $598 million from ADIA

Indian billionaire Mukesh Ambani's Reliance Retail Ventures said on Friday Abu Dhabi Investment Authority would invest 49.67 billion rupees ($597.58 million) in the company at a valuation of $100.8 billion. The investment by ADIA will translate into a stake of 0.59% in the company, the retail unit of oil-to-retail conglomerate Reliance Industries said in a regulatory filing. Reliance Retail, which has more than 18,000 stores and competes with Amazon and Walmart's Flipkart, has attracted investments from private equity firm KKR & Co and Qatar Investment Authority (QIA) in recent months. Reuters had reported last month that Reliance was in advanced talks with global investors to raise around $2.5 billion ahead of a potential stock mark...

KKR set to invest over Rs 2k cr in Reliance Retail to raise stake to 1.42%

11Sep

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Business

KKR set to invest over Rs 2k cr in Reliance Retail to raise stake to 1.42%

Private equity firm KKR is set to invest an additional Rs 2,069.5 crore in Reliance Retail Ventures (RRVL) through an affiliate, securing a 0.25 per cent stake on a fully diluted basis. This investment places RRVL’s pre-money equity value at Rs 8.36 trillion, positioning it among the top four companies in the country by equity value, said the company in its release. This transaction increases KKR’s investment in oil-to-telecommunications conglomerate Reliance Industries’ retail subsidiary from 1.17 per cent to 1.42 per cent. The global investment firm had previously invested Rs 5,500 crore in 2020 when the retailer raised an aggregate of Rs 47,265 crore at a pre-money equity valuation of Rs 4.21 trillion. This fundraising effort involved participation from vari...

6Sep

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Business

Reliance Retail: Reliance Retail to take 51% stake in kid’s clothing brand Ed-a-Mamma

BENGALURU: Reliance Retail Ventures, India's biggest retailer, said on Wednesday it would take a 51% stake in domestic kid's clothing brand, Ed-a-Mamma, pursuing its aggressive expansion ahead of a potential stock market listing.Billionaire Mukesh Ambani's Reliance Retail Ventures raised $1 billion from Qatar Investment Authority at a $100 billion valuation last month and is in talks with global investors to raise around $2.5 billion more by the end of September.Reliance Retail has more than 18,000 retail outlets, selling everything from groceries to electronics. In the apparel space, it has tie-ups with both domestic brands, such as fashion labels Ritu Kumar and Manish Malhotra, as well as foreign brands such as Armani and Marks & Spencer.The joint statement by Reliance Retail and Ed...

Reliance Retail in talks with global investors to raise $2.5 billion

1Sep

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Reliance Retail in talks with global investors to raise $2.5 billion

Chairman Mukesh Ambani (Photo: PTI) Indian billionaire Mukesh Ambani's Reliance Retail Ventures is in advanced talks with global investors to raise around $2.5 billion by the end of September, ahead of a potential stock market listing, people familiar with the matter told Reuters. Three sources said the target fund raise of $2.5 billion is part of a combined $3.5 billion target the firm has set for itself, a part of which - $1 billion - came from Qatar Investment Authority (QIA) and was announced last month. In an emailed statement, Reliance said "As a policy, we do not comment on media speculation and rumours.", but added "Our company evaluates various opportunities on an ongoing basis." Reliance last month said it raised $1 billion from QIA at a $100 billion v...

Reliance Retail: Qatar wealth fund invests $1 billion in Reliance Retail Ventures

23Aug

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Business

Reliance Retail: Qatar wealth fund invests $1 billion in Reliance Retail Ventures

MUMBAI: Qatar’s sovereign wealth fund invested 82.78 billion rupees ($1 billion) into the rapidly growing retail business owned by Asia’s richest man Mukesh Ambani, as India’s biggest brick-and-mortar retailer looks to expand its operations.The Qatar Investment Authority purchase translates into a stake of 0.99% in Reliance Retail Ventures Ltd “on a fully-diluted basis,” the Mumbai-based firm said in a statement on Wednesday, adding that it values the company at $100 billion.The deal comes as Ambani’s conglomerate is also considering a public listing for Reliance Retail and has started buying back shares in the unit and giving them to their employees as stock options. The subsidiary headed by Ambani’s daughter, Isha, has been undertaken a swath of recent acquisitions as it is taking on gl...