Reliance Retail Ventures Ltd has acquired a majority equity stake in digital pharma market place Netmeds for a cash consideration of around Rs 620 crore, Reliance Industries said in a late night statement on Tuesday.
Reliance Industries Ltd will acquire German firm Metro AG's wholesale operations in India for Rs 2,850 crore as the conglomerate run by billionaire Mukesh Ambani seeks to strengthen its dominant position in India's mammoth retail sector. "Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries Ltd, signed definitive agreements to acquire a 100 per cent equity stake in Metro Cash & Carry India for a total cash consideration of Rs 2,850 crore, subject to closing adjustments," said a joint statement. Through this acquisition, Reliance Retail will get access to a network of Metro India stores located in prime locations across key cities, along with a large base of registered kiranas and other institutional customers, and a strong supplier network.
Loved how Deepika Padukone looked on her wedding? Then, it's time you thank this woman.
The queries, sent in November, were mainly about Capital Investment Trust, which the I-T department said, was used for the purpose of transferring foreign funds comprising global depository receipts (GDRs) of the value of $400 million to two Indian entities - Reliance Utilities & Power (RUPL) and Reliance Port & Terminal (RPTL), owned by the Ambani family. A show-cause notice issued on March 29 to Ambani's wife Nita, and their three children.
Glimpses from the Christian Dior Womenswear Fall 2023 show which took place at the Gateway of India, Mumbai.
Commercial services may start in Mar-Apr next year
Reliance Industries Ltd on Friday reported a 9 per cent rise in its December quarter net profit as a planned maintenance-induced weakness in oil business earnings was offset by stability in retail and telecom verticals. The oil-to-retail-to-telecom conglomerate's consolidated net profit of Rs 17,265 crore, or Rs 25.52 per share, in October-December - the third quarter of the current 2023-24 fiscal - was 9.3 per cent higher than Rs 15,792 crore, or Rs 23.19 a share, earning a year back, according to a company statement. Quarter-on-quarter, the profit was lower when compared to Rs 17,394 crore earnings in the preceding three months ended September 30.
Campa is set to take on its competition, which pushed it out of the aerated drinks business in the late 1990s, but this time with a new owner - Reliance Industries. Campa's entry comes at a time when aerated drinks as a category is already saturated. But experts say this could give rise to competition in the segment, eventually causing the space to grow.
Bollywood stars up their fashion game for the first Vogue Women of the Year Awards.
The celebs who graced the front rows at Manish Malhotra's latest collection launch.
Home minister heads several groups of ministers, including the one to decide the revival package for Bharat Sanchar Nigam and Mahanagar Telephone Nigam. His ministry also takes decisive calls on national security in relation to telecom operations as well as equipment and technology used in the industry.
What a moralebooster for the comic returning to our television screens this weekend!
It is said he worked towards losing weight in natural and safe ways.
'Professors can teach even when they are 90 because they don't lose their skill with words. Go deeper and there's spirituality in it.'
Qatar Investment Authority (QIA) will acquire around 1 per cent stake in Reliance Retail Ventures Ltd (RRVL), the retail arm of billionaire Mukesh Ambani-led Reliance Industries, by investing Rs 8,278 crore ($1 billion). A QIA's wholly-owned subsidiary will make the investment in India's largest retailer at a valuation of Rs 8.278 lakh crore ($100 billion). Updating about the development, Reliance Industries in a regulatory filing said: "QIA's investment will translate into a minority equity stake of 0.99 per cent in RRVL on a fully-diluted basis." RRVL is the holding company for all retail businesses of Reliance Industries Ltd (RIL).
At the annual general meeting of Reliance Industries earlier this week, Isha Ambani, director at Reliance Retail Ventures, announced that the company is foraying into the fast-moving consumer goods (FMCG) space. But analysts say that only time will tell if this will lead to a disruption in India's FMCG market. While Reliance Retail's initial strategy is to take its own brands, which it currently sells at its own supermarkets and hypermarkets, to general trade, it is also looking at acquisitions.
As record stock market rally continues, the value of shares directly owned by next-generation business leaders at 20 major corporate houses has soared over 18 per cent to Rs 17,000 crore.
The celebrations continue for PeeCee and Nicky.
Dolly Jain knows 325 ways of draping the sari, a talent that has taken her to the Limca Book Records.
Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday announced to raise Rs 7,350 crore from two investors -- Singapore's sovereign wealth fund GIC and Global alternative asset firm TPG -- by selling a stake in group's retail arm.
Ordering groceries, vegetables and daily essentials is just a WhatsApp away as billionaire Mukesh Ambani's e-commerce platform JioMart taps into the popular messaging app to scale up online business in its fight for dominance in the giant Indian retail market with Amazon and Walmart-owned Flipkart. Ambani's twin children, Akash and Isha gave a preview of the ordering at Meta's second edition of the Fuel for India event on Wednesday. A new 'tap and chat' option allows users to order groceries through WhatsApp.
Mukesh Ambani said the Digital India initiative has the potential to transform the lives of 1.2 billion Indians using the power of digital technology.
Reliance Retail will acquire the retail, wholesale, logistics and warehousing businesses of the Future Group. Future Group's financial and insurance businesses are not part of the deal.
The best and the worst of Bollywood fashion.
Heirs to India's most wealthy companies, they command an enviable position.
It was a proud day for Bollywood's mummies and daddies. The two-day annual day celebrations of Dhirubhai Ambani School saw their kids get ready to show off their skill on stage.
Kresha Bajaj launched her new collection Acropora at Mumbai. Take a look at the B-Town celebs who showed up to support the designer.
RRVL will make an open offer to acquire up to an additional 2.17 crore equity shares of Just Dial, representing 26 per cent stake, in accordance with Sebi Takeover Regulations, a regulatory filing said.
As many as 3.2 lakh shareholders attended the meeting on the newly-minted JioMeet platform from 550 cities in 48 countries.
'But we are much better than what we all had expected and planned, and what all the prophets of doom had predicted.'
Red is clearly not Saina Nehwal's colour. For her engagement too, she looked stunning in a powder blue and pink lehenga.
It is amazing how she used social media to network, inspire and give back to society while building an international career.
The venue looks straight out of a fairy tale!
Deepika and Ranveer have apparently chosen Lake Como, Italy, as the wedding destination.
Some of the greatest stars attended Anamika Khanna's show at the Lakme Summer/Resort grand finale.
Check out the star arrivals.
Mukesh Ambani remains the country's wealthiest promoter as his stake in Reliance is now worth Rs 3.25 trillion!
A look at the star arrivals!
A look at all the star arrivals.
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