Reliance Retail raises money from QIA at double the valuation in 3 yrs

Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries (RIL) has announced raising Rs 8,278 cr from Qatar Investment Authority (QIA). Investment is raised at a pre-money equity valuation of Rs 8.278 lakh crore QIA will get 0.99% stake in RRVL on a fully diluted basis This fund raise effectively doubles RRVL’s valuation in … Read more

India government restricts import of laptop, computers, tablets

On Thursday, the Indian government issued a notice imposing immediate restrictions on the import of laptops, tablets, and personal computers. “Their import would be allowed against a valid licence for restricted imports,” said the notice issued by the Ministry of Commerce and Industry, Department of Commerce, Government of India. As per the notice issued by … Read more

Havells forays into contract manufacturing

The CMD has shared the following – Havells India is going to venture into electronic manufacturing service (EMS) or contract manufacturing space for appliances such as air-conditioners and washing machines to cater to the increasing demand of global brands to have an Indian manufacturing base (and hence reduce dependence on China). On a pilot basis, … Read more

Apple and Meta’s Metaverses Are Both Sad and Lonely

The metaverse has a loneliness problem. Mark Zuckerberg says Apple’s new headset will make everyone lonelier. But even Meta’s headset is, in the end, someone sitting alone on a couch too.   Mark Zuckerberg’s verdict on Apple’s new mixed-reality headset is in: It’s lonesome. “Every demo that they showed was a person sitting on a couch … Read more

SJS makes a significant impactful acquisition

SJS is acquiring 90.1% stake in Walter Pack Automotive Products India Private Limited (WPI). WPI is a 85% subsidiary of Walter Pack Spain(WPS) . Remaining 15.0% is held by the Indian promoter and founder, Mr. Roy Mathew. SJS is acquiring the full 85% of WPS and 5.1% from Mr Mathew. Mr Mathew will continue to … Read more