Reliance sprung another surprise on October 10, 2021 (Sunday) when it announced two strategic investments into it’s newly identified focus area – Solar Power. In the afternoon – 100% acquisition of REC Solar Holdings for an enterprise value of $771 million (Rs 5,800 crore) from China National Bluestar (Group) Co Ltd; and In the evening … Read more
Mukesh Ambani, Asia’s richest person, joined Jeff Bezos and Elon Musk in the world’s most exclusive wealth club with a fortune of at least $100 billion.The chairman of Ltd. entered the rarefied group of 11 men as his conglomerate’s stock climbed to a record on Friday. He’s now worth $100.6 billion, according to the Bloomberg … Read more
Immediately after Future Retail announced the termination of agreement with 7-eleven, Reliance Retail announced a similar Master Franchise Agreement to launch 7-Eleven Convenience stores in India. Further interesting is the fact, that the 1st store is getting opened within the next 2 days, i.e., October 9, 2021 in Andheri East, Mumbai. Sequence of events clearly … Read more
Future Retail had signed the Master Franchise Agreement with 7-Eleven in February 2019 to develop and operate 7-Eleven stores within India. However, given Future group’s struggle over the last few years nothing material could be done and plans remained on paper. Future Group’s merger with Reliance Retail is also saddled with legal complications initiated by … Read more
The Supreme Court on Friday ruled in favour of e-commerce giant Amazon against the proposed ₹24,713-crore merger deal between Future Retail Limited (FRL)and Reliance Retail. A Bench of Justices Rohinton F. Nariman and B.R. Gavai upheld the validity and enforceability of a Singapore-based Emergency Arbitrator (EA) award, which restrained Future Retail Limited (FRL), India’s second … Read more
Adani Enterprises informed the regulators that it has incorporated Adani Petrochemicals Ltd (APL) as a wholly-owned subsidiary. This new unit will put marks the entry of Adani group into petrochemicals sector, which is a legacy business of Reliance Industries. “We would like to inform you that the Company has incorporated a wholly-owned subsidiary namely, ‘Adani … Read more
For Reliance Industries’ Chairman, Mukesh Ambani future belongs to organizations that will lead and leverage the digital revolution. In his address to shareholders in the company’s annual report released on Wednesday, Ambani said, “As technology becomes a driving force in all businesses and facets of life, the future belongs to organizations that can lead and … Read more
Billionaire Mukesh Ambani’s Reliance Industries is reported to have held talks with Saudi Aramco on a cash and share deal for sale of a 20 per cent stake in its oil refining and petrochemical arm. Ambani had in August 2019 announced talks for the sale of a 20 per cent stake in the oil-to-chemicals (O2C) … Read more
Hamleys, a British retail icon that hasn’t made a profit for a number of years, plans to quadruple its outlets in the former British colony to more than 500 in three years despite the pandemic, according to Darshan Mehta, chief executive officer of Ambani’s Reliance Brands Ltd. Besides the main growth market, the company is … Read more