Reliance Retail Ventures Limited (RRVL) is acquiring 100% of METRO India. METRO India started operations in India in 2003 as the first company to introduce cash-and-carry business format in the country. It currently operates 31 large format stores across 21 cities with about 3,500 employees. The business claims to have over 3 mn B2B customers … Read more
Value merchandise retailer, V-Mart has announced acquisition of once fancied ecommerce start-up Limeroad on a slump sale basis. Total consideration is Rs 67 crore Rs 31 crore cash payout Rs 36 crore liabilities takeover Limeroad will operate as a separate business unit under V-Mart and will continue to be run by the existing key team … Read more
Pratik Pota, the man widely credited for Jubilant’s turnaround had resigned as CEO in January 2022. Since then, there has been a significant overhang of his resignation on the Company’s stock price (corrected by >40%). It was though in any case over extended, trading at a trailing P/E of >150x then. Even after the decline, … Read more
Aditya Birla Fashion & Retail (ABFRL) has announced raising sizeable equity investment from GIC’s affiliate, Caladium Investment Pte. Ltd. Key points to note – GIC is Singapore’s sovereign wealth fund. GIC has committed to infuse a total of Rs 2,195 crore Rs 295 crore upfront equity @ Rs 288.75/ share picking up about 1.07% of … Read more
India’s biggest retailer Reliance will acquire dozens of small grocery and non-food brands as it targets building its own $6.5 billion consumer goods business to challenge foreign giants like Unilever, two sources familiar with the plan told Reuters. Reliance, run by Indian billionaire Mukesh Ambani, plans to build a portfolio of 50 to 60 grocery, … Read more
After investing $100 mn (Rs 750 cr) for a minority stake in Blinkit (Grofers) last year, Zomato now approves a further investment upto $150 mn (approx Rs 1,150 cr) into the Company. Key points to note: The subject investment is in the nature of loan to be disbursed in one or more tranches. Rate of … Read more
Future Retail had been subleasing store space from the tycoon’s Reliance Industries Ltd. Indeed, it was kept operating only on Ambani’s forbearance because Future couldn’t come up with the rent. But with Amazon.com continuing to block Reliance’s $3.4 billion purchase of Future’s assets, Ambani decided to make the acquisition a fait accompli: He terminated the leases and is taking … Read more
Pratik Pota has resigned as the CEO of Jubilant Foodworks. Key points to note – Pota had joined Jubilant in March 2017 from Pepsico. Pota is widely regarded as the man behind Jubilant’s turnaround. The Company was facing significant headwinds and was struggling operationally before he had joined. Since his joining, the Company has witnessed … Read more