Japanese telecom major would invest $50 mn in the start-up in 'December or latest by January'.
Most of the hirings are, however, in the entry or junior level.
This marks the second billion-dollar investment by Silver Lake in a Reliance subsidiary after the $1.35 billion investment in Jio Platforms.
Revenue rises 20.7% to Rs 36,854 crore.
Puri said ITC will focus on health and wellness products within the FMCG vertical. He also said the company will attempt to reinforce the existing categories in the FMCG segment.
Reliance Retail has bought a 25.8 per cent stake in Dunzo, India's leading quick commerce player, for $200 million (around Rs 1,488 crore) as it looks to expand its presence in online grocery delivery business. Dunzo has raised $240 million (about Rs 1,787 crore) in its latest funding round that was led by Reliance Retail Ventures Ltd (RRVL) - the retail arm of Reliance Industries, the two firms said in a statement. Existing investors Lightbox, Lightrock, 3L Capital and Alteria Capital also participated in the funding round.
Discussion has started between blank check companies in the US and Indian PEs on possible deals in certain key sectors.
The company, which has been in the news recently for all the wrong reasons, maintains that it was forced to rationalise the staff strength as improvements in technology resulted in certain redundancies in customer, merchant and delivery partner support teams.
After monetising Jio Platforms -- which houses the firm's telecom arm and digital ventures, richest Indian Mukesh Ambani is looking to rope in investors in the retail business.
'When Uddhav Thackeray went in for surgery, he had presumed that Eknath Shinde would have looked after the Shiv Sena for him during this period.' 'He did not imagine that Shinde would use this period to backstab him.'
Reliance Industries on Friday reported a 41.5 per cent jump in its third quarter net profit as oil, retail and telecom businesses fired on all cylinders. Net profit of Rs 18,549 crore in October-December compared with Rs 13,101 crore a year back, the company said in a stock exchange filing. Income from operations rose to Rs 1.91 lakh crore from Rs 1.28 lakh crore.
Cheap data plans, affordable handsets, increasing popularity of video services and 4G networks have helped average data consumption per user in India to grow to over 11 GB a month, telecom gear maker Nokia said on Thursday. Nokia -- in its annual Mobile Broadband India Traffic Index (MBiT) report -- said the overall data traffic in India increased by 47 per cent in 2019, driven by continued 4G consumption. 4G data constitute 96 per cent of the total data traffic consumed across the country, while 3G data traffic registered its highest ever decline of 30 per cent, it added.
Ambani said, it will be ready for trials as soon as 5G spectrum is available and can be ready for field deployment next year.
Zomato's initial public offer (IPO) is scheduled to open for subscription on July 14 and is priced between Rs 72 - 74 per share. At the upper end of the price band of the offering, the company aims to raise Rs 9,350 crore. Most analysts have given a 'subscribe' rating to the issue for listing gains.
PhonePe via Bharat Bill Payment System (BBPS) plans to get into a number of new verticals, including fee payments in schools and colleges, payments at hospitals and other services
Live commerce, quick commerce, group buying, WhatsApp commerce, dukaantech have made their mark.
Besides low interest rates, a reduction in active Covid cases and strong high-frequency macro data have lifted the sentiment of both corporate India and the stock markets.
The latest one being Ken Toombs, global head of consulting at the Bengaluru-based entity.
While Tata Motors is looking to set up new assembly facilities through local partners in countries like Tunisia and Kenya, the group's hospitality chain Taj Hotels Resorts and Palaces is also considering 'proposals from three-four' countries to set up new properties.
Mutual funds aspirants have the option of snapping up smaller AMCs or applying for a new licence.
Richest Indian Mukesh Ambani on Tuesday mentioned about leadership transition at his energy-to-retail conglomerate, saying he wants the process to be accelerated with seniors, including him, yielding to the younger generation. Ambani, 64, who has previously not spoken about succession plans at the country's most valuable company, said Reliance is "now in the process of effecting a momentous leadership transition." Ambani has three children -- twins Akash and Isha, and Anant.
According to outsourcing advisors and experts, while almost half of the deals are likely to see delay, the others are expected to be renewed at a lower price as enterprises ask for discounts in roll-over contracts.
Given the urgency, the Indian Navy is buying 24 MH-60R Seahawks in flyaway condition, and plans to build another 99 in India through the strategic partnership route.
Ola wants to be India's answer to Grab, which is into everything, starting from cab service and logistics to bike taxis and food and grocery delivery.
As consumers in India seek variety and innovative products, there's a lot of interest among investors for healthier products.
'The fundamentals look strong, but we will have to see if they translate into actual demand.' 'Because the April-May marriage season didn't see much sales due to the lockdown.'
Investment by US PE firm KKR will add fire to Ambani's battle for dominance in the retail market that is also being eyed by Jeff Bezos' Amazon and Walmart's Flipkart.
'Indian creative and digital agencies seem to be completely missing the mark,' says advertising and media veteran Sandeep Goyal.
'I hope the trend is sustainable and that economic activity accelerates going forward.'
Niyo is also offering bonuses and ESOPs, taking the total stock grants to over Rs 100 crore for all eligible employees.
Firstsource Solutions (formerly ICICI OneSource), a business process outsourcing company, on Thursday acquired BPM - a Delaware-based healthcare claims' outsourcing company.
The interim report highlights key competition issues in the e-commerce space like deep discounting, the imposition of unfair terms and conditions, the growing dependence of brick and mortar establishments on online platforms, and opaqueness in search rankings.
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According to him, Facebook News Feed is the new mobile shopping aisle where Omni channel retailers can reach all of these people every day and merchandise products to strengthen their brands and increase sales -- both in stores and online.
Saudi Aramco chairman and head of the Kingdom's cash-rich wealth fund PIF Yasir Othman Al-Rumayyan will join the board of Reliance Industries Ltd as an independent director in a precursor to a $15 billion deal. Reliance chairman and Asia's richest man Mukesh Ambani, who had two years back disclosed the talks to sell a 20 per cent stake in the company's oil-to-chemical unit to Saudi Aramco, announced the appointment of Al-Rumayyan at the company's annual meeting of shareholders. Harvard educated Al-Rumayyan, 51, will replace Yogendra P Trivedi, 92, who has expressed a desire to retire, Ambani said. On the sale of a 20 per cent stake in the O2C business, he said the deal is likely to conclude this year.
Under the new model, the IT services firm will replace the current structure of its various strategic business units, service lines and geographies with four strategic market units and two global business lines.
Company feels automation is a big tool to drive down costs and improve efficiency
JRG Securities Limited is a brokerage in India, and Baring will invest through a preferential issue and warrants for a minimum stake of 44.8% in the company.
Co-founders of India's latest unicorn expected Covid-19 to be a speed breaker; instead it accelerated sales. Cars24 now enjoys more than 90 per cent market share among all other similar online transaction platforms. Dhruv Munjal traces the birth of this used-cars platform.
While passing the scrutiny of courts is a tough challenge, with eight proposed amendments to the insolvency law, the government has sought to turn the focus back on at least some of the functions of the bankruptcy law.
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