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
Recently in December 2021, Reliance New Energy Solar Ltd (RNESL), a wholly owned subsidiary of Reliance Industries had acquired 100% of Faradion Limited (FL), a British battery maker specialising in sodium-ion technology. Now, RNEL is acquiring 100% of Lithium Werks BV (“LWB”), a Dutch Company focused on cobalt free and high performance Lithium Iron Phosphate … Read more
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
For almost a year, I have been confused about how Future retail stores are getting funding to operate given – the poor financial health of the group; and 2020 deal with Reliance retail not getting concluded due to the legal dispute with Amazon. Operating the stores meant expenses in the form of lease payments, employee … Read more
Now a days nothing escapes Reliance’s attention. Gone are the days when it used to be extremely averse to do tie-ups/ JV’s. With next generation getting a bigger say and future becoming more and more unpredictable, Reliance seems to have decided – ‘we can not play a wait and watch’ and more importantly ‘we can … Read more
Jio is investing $200 mn into Glance. Key points to note – Glance, founded in 2019 is a subsidiary of inmobi. Glance has two platforms: Roposo – creator led live entertainment commerce Glance – live entertainment, commerce and gaming on mobile lock screen For it’s investment, Jio willl get about 17% stake in Glance, implying … Read more
The amount relates to the entire deferred liabilities pertaining to spectrum acquired in auctions of year 2014, 2015, 2016 and the spectrum acquired in year 2021 through trading of right to use with Bharti Airtel Limited. Key points to note: The amount includes accrued interest as well. These liabilities were due in annual instalments from … Read more
Reliance continues on it’s expansion spree. The Company now announces to buy 73.37% of Mandarin Oriental New York (MONY) for $98.15 mn i.e. approx Rs 735 crore. Key points to note – The acquisition is by Reliance Industrial Investments and Holdings (RIIH), a wholly owned unit of Reliance Industries. RIIH is buying the entire issued … Read more
Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries is investing $200 mn (approx Rs 1,500 crore) into Dunzo, a hyperlocal delivery new age business. Key points to note – $200 mn is part of the $240 mn round, wherein balance $40 mn is contributed by Dunzo’s existing investors including Lightbox, Lightrock, 3L Capital … Read more