That's because India does not have a serious venture capital industry with an appetite for risk, observes T N Ninan.
IT major nears $100 bn m-cap, accounts for 61% of the group's combined valuation.
Future Group founder and CEO Kishore Biyani on Tuesday said Amazon was fully aware of his group's talks with Reliance Industries for the sale of retail assets that followed the US giant offering no concrete help to tide over the cash crisis. Opening up after being locked in an intense legal battle with Amazon over the Rs 24,713 crore deal with Reliance, Biyani in an interview with PTI said the US giant's 2019 investment in Future Coupons Pvt Ltd (FCPL) -- Future Retail's parent -- was for coupon and gifting business only and the same could continue post-retail assets going to Reliance. He hoped to complete the deal with Reliance within two months of Sebi approval.
Experts say Biyani will now become a contract manufacturer of fashion and FMCG products, with the Reliance group being one of his customers.
Deal to help RCom reduce debt, Sun gain subscribers in new markets
The companies having suffered large erosion in values included Tata Motors, TCS, Tata Steel, Tata Power and Titan Industries
Five out of the top 10 companies in Fortune 500 list of Indian companies are from the oil sector.
The Department of Post, Tech Mahindra, Videocon Group and stock exchange NSE have joined big corporates like Ambanis and Birlas to seek entry into banking business through newly created niche category of Payments and Small Finance Banks.
Over the past decade, RIL has never announced lesser dividend to its shareholders even when faced with lower profits
For last two months, much of the discussion, a large part of due diligence, agreement negotiations, etc, have happened remotely.
With a new higher tax regime coming into effect from the new financial year, top corporates and wealthy investors are in a rush to restructure their shareholding.
Amazon has shot off yet another letter to market regulator Sebi, accusing Future Retail of insider trading and called for an investigation as the US online retailer looks to ratchet up pressure against the Future-RIL deal. Future Group, however, vehemently denied the charges, saying these allegations were "Amazon's ill-motivated attempts to throw everything at the situation to stultify the transaction."
Taking a cue from neighbouring Gujarat and its successful Vibrant Gujarat summit, Maharashtra has organised a conclave -Transforming MMR into a Global Financial, Commercial and Entertainment Hub - on February 6.
Facebook CEO Mark Zuckerberg has said steps taken by the social media giant have helped protect the integrity of more than 200 different elections around the world, including in India, and have also played an important role in stopping abuse ahead of US elections.
Kishore Biyani led-Future Group has filed a caveat before the Delhi high court requesting it to be heard if any plea is filed by e-commerce major Amazon over its Rs 24,713 crore deal with Mukesh Ambani-led RIL. Anticipating a move by Amazon, which had got an interim arbitration award in its favour, putting the announced deal on hold, the Future Group firm has moved the Delhi high court.
The 3-year partnership to set up a pan India initiative to catalyse the country's technology startup ecosystem was signed today by R A Mashelkar, Chairman, GenNext Ventures and Board Member, RIL, and Bhaskar Pramanik, Chairman, Microsoft India.
In the last couple of months, the Prime Minister has visited Japan and the US and launched the Make in India campaign to lure foreign investments into manufacturing sector.
This makes him corporate India's biggest donor to society.
'This speech is going to be more of a punishment. I spoke too much this afternoon' A tireless Prime Minister Narendra Modi left over 700 notable luminaries in peals of laughter with his quick wit and sense of humour during a dinner and reception hosted by Indian Ambassador Subrahmanyam Jaishankar at the Taj-owned, The Pierre Hotel. In the presence of the who's who of desi Americans and US lawmakers, Modi once again thanked the Indian-Americans for their contributions and discussed his plans of developing India and the ties he hopes to nurture with America. Aziz Haniffa/Rediff.com presents a sneak-peak into the festive, grand dinner.
The year gone by saw the high and mighty of the corporate world face the music in the Delhi High Court which held that the telecom majors are amenable to CAG audit and Mukesh Ambani's RIL struggling hard to get rid of an FIR lodged on gas pricing by the 49-day-old AAP regime.
With an epic battle of billionaires for supremacy in one of the world's most prolific markets and a pandemic-propelled surge in online shopping in the background, India's nearly trillion-dollar retail market is hoping to touch 85 per cent of the pre-COVID business in the first half of the New Year. In a year when the COVID-19 carnage ripped apart the retail business, circa 2020 will best go down for the unravelling of the war between Jeff Bezos, the world's wealthiest man, and richest Indian Mukesh Ambani for pre-eminence in the booming market that is estimated to reach $1.3 trillion by 2025. It all started with Ambani's Reliance Industries agreeing in August to buy assets of the nation's second-largest retailer for Rs 24,713 crore, just a year after Bezos' Amazon purchased an indirect stake in the indebted Future Retail.
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Reliance, Birla Group, Airtel eye small finance banks.
The meeting will focus on how to make the crisis an opportunity for India.
The old guard is still involved in broad corporate decision-making, but quite a few new business heads have started making their mark at the group
For the four new players, the spike in wealth is 126 per cent.
Mukesh Ambani said he had never seen any city decked up so strikingly as Lucknow
'Rahul is only making a pathetic public spectacle of his lack of judgment and good sense by hallucinating that somehow, the Congress, or whatever political combine is cobbled together, will displace the BJP at the coming Lok Sabha election by constantly harping on the Rafale deal,' argues retired civil servant B S Raghavan.
Says spending $3 billion every year on networks alone
Investors from across the globe are keen to invest in Gujarat.
Piramals are the largest investors in the Indian real estate sector after HDFC, with investments worth $3 billion already.
When, recently, Bharti Airtel announced a Rs 21,000 crore rights issue, analysts pointed out that its structure was similar to that of Reliance's issue in June 2020. One similarity is that shareholders in both companies have to pay only 25 per cent of the money on application. The rest is to be paid in two tranches. In Bharti Airtel's case, it is within 36 months; in Reliance Jio's, it is within 17 months.
The events of September 24 have not only earned the country a whole lot of interest but also showed the world how a lot more can be accomplished with a shoestring budget.
No one is quite sure when the soft launch is likely.
Future Retail Ltd (FRL) on Wednesday said it is "committed" to reversal of takeover of its stores by Reliance Retail and will take all such action as may be necessary to seek value adjustments. The Kishore Biyani-led firm also said the action of the Reliance Group has come as a "surprise" to it. Moreover, the action of taking possession of its stores has "complicated" the positive scenario which had started building up after a CCI order in December 2021, FRL said in a regulatory filing.
Indian billionaires do not believe in sitting on their wealth.
Online play is a priority now -- so far unthinkable in a business that's all about a meaningful interface with kirana stores.
Globally, just 8 billionaires have same amount of wealth as the poorest 50% of the world population.
DoT had raised the demand on December 22 and asked RCom to pay within a month.
The case may drag for a few years, experts say, as CAIT and DVM have said they will appeal against the interim relief granted to Amazon.
Welcoming the amendments proposed by the government to its petition on the Ambani gas row, Anil Ambani on Tuesday said his group company RNRL's dispute with Mukesh-led RIL was commercial and pertained to the demerger of the Reliance businesses.
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