Reliance to acquire dozens of brands in $6.5 billion consumer goods play-sources

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

Reliance gets significant strategic investment into Viacom18

Viacom18 (V18) is amongst the leading players in the Indian television sector with 38 channels in nine languages across various genres including general entertainment, movies, sports, youth, music and kids. Besides, it also has OTT streaming platform Voot. V18 is currently a 51:49 JV between Reliance Industries Limited (RIL) owned TV18 and Paramount Global. RIL … Read more

Bonanza for Reliance, ONGC: Gas price to more than double this week

In a bonanza for gas producers, Reliance Industries is set to get a record price of around $10 per MMBtu for the KG gas, while state-owned ONGC is likely to fetch more than double the rate for its Mumbai High and other fields, sources said. The government-dictated price for natural gas produced in the country … Read more

The Mukesh Ambani-Gautam Adani rivalry is about to get intense

Mukesh Ambani and Gautam Adani tiptoed around each other for years to reach the top two rungs of Asia’s wealth ladder. While one of them built an empire in telecom and retail, the other established a lock on transport and energy distribution. Increasingly, though, the two billionaires from India’s Gujarat state are starting to overlap, … Read more

Mukesh Ambani’s takeover of Future could be a B-School case study

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

Reliance forms a JV for electronics manufacturing

Reliance now gets into electronics manufacturing through a JV with Sanmina Corporation (SC), an American electronics manufacturing company. Key points to note – Reliance through it’s wholly owned subsidiary, Reliance Strategic Business Ventures Limited (RSBVL) will own 50.1% in the JV and SC the balance 49.9%. For it’s share, RSBVL is investing Rs 1,670 crore. … Read more