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).
The Sharif group's website claims they are worth $300 million in business and $100 million in real estate holdings
Quick commerce startups hope to race towards better days. Can they crack the execution code?
'My wife, family members as well as members of the workers will be trustees.' 'The trust will take all decisions -- no family member can individually take any decision.'
While Ambani, 66, drew nil salary from the company since the 2020-21 fiscal year, other executive directors including his cousins Nikhil and Hital are paid a salary, perquisites, allowances and commission. His three children - twins Akash and Isha (both 31) and Anant (28 years) - will get only a sitting fee and a commission on the profit earned by the firm.
Is it permissible in law for a statute to have unbound and limitless discretionary authority, the Bombay high court asked on Friday while hearing a bunch of petitions against the recently amended Information Technology (IT) Rules against fake news.
The recovering valuations, will lead to enhanced optimism among investors about funding startups.
'Given that the market is now demanding disciplined growth, well-run companies should be able to demonstrate profitability with the cash on hand.'
'As part of our D33 strategy, the plan is to establish 30 unicorns in Dubai within the next 10 years.'
Qatar's sovereign wealth fund is in early discussions to buy a minority stake in billionaire Mukesh Ambani's rapidly expanding retail unit for about $1 billion (Rs 8,200 crore), sources said. The Qatar Investment Authority is keen on tapping the fast-growing Indian market and has entered into a discussion to buy about 1 per cent stake in Reliance Retail Ventures, sources with knowledge of the matter said. Talks, sources said, are at a preliminary stage and being led by an executive director on the board of parent Reliance Industries Ltd.
When Haridwar teems with the kumbh pilgrims, it is time for the business unusual in the holy city.
Jiomart B2B is the latest among organised supply-chain companies to bite the bullet, shutting down its warehouses, and asking its employees to leave. Why are companies finding it difficult to sustain the supply-chain business? Experts point out that gross margins in supplying fast-moving consumer goods (FMCGs) are very low.
The Adani group will be generating almost 90 percent of its Ebitda (earnings before interest, tax, depreciation, and amortisation) from infrastructure business by 2025 as compared to 83 per cent generated from these businesses currently, top company officials told bankers recently. Of the infrastructure business, 49 per cent of the profits are currently contributed by energy and utility, another 25 per cent by transport and rest by cement and logistics businesses. This will go up substantially as several new projects like Navi Mumbai airport and other projects get commissioned and contribute to the overall Ebitda pie, bankers were told.
The Bharti Group, promoted by the Mittal family, had searched high and low for a foreign partner when it wanted to start its cash
After topping it for two consecutive years, Gujarat slipped three places on the NITI Aayog's Export Preparedness Index (EPI) for 2022, as Tamil Nadu emerged as the most export-ready state, the central think tank said in its report released on Monday. In a continuing trend, coastal states were found to have the most robust export infrastructure, which officials attributed to the integration of maritime trade into the core of their economies. Maharashtra and Karnataka retained their positions -- second and third, respectively; Haryana was ranked first among landlocked states and fifth overall.
Edtech major Byju's is growing slowly but sustainably and is close to achieving profitability at the group level, the company's CEO Byju Raveendran said on Thursday. The company organised a town hall with Raveendran to allay apprehensions about the uncertainty around the company's growth and its future. According to sources, who attended the town hall, Raveendran said that issues with $1.2 billion Term Loan B lenders are being resolved through discussion and hopeful of a positive outcome in the next few weeks without the court's intervention.
The reason for both the officials being sent on leave is the same - an anonymous complaint received by the market regulator against the agency.
'If the South starts shooting on IMAX more, it will be beneficial. And likewise, it will benefit Bollywood directors.'
Tesla Inc, the world's largest electric car producer, is looking to make a significant investment in India, said its chief Elon Musk, who saw India as holding more promise than any other large country around the globe. Musk, after meeting Prime Minister Narendra Modi, said he plans to visit India in 2024. "I am confident that Tesla will be in India and we will do so as soon as humanly possible," Musk told reporters after the meeting.
"I don't feel like it is the beginning of a new season. There is hardly any break between seasons," Federer told reporters.
Micromax has built a successful brand by harnessing the advantages China offered. Now it needs to change its strategies.
During the 'lowering of flags' before sunset, the stern expression on the faces of the Border Security Force jawans might lead a first-time visitor to think it's because of the tension at the line of control two days earlier.
...the BJP's template of operation was different or if the Centre and the state were ruled by dissimilar parties? asks Shyam G Menon.
Sitharaman said the notion that across the board in India, violence against Muslims is happening is a fallacy.
The Rajasthan Royals suffered an epic collapse following Yashasvi Jaiswal's runout and it was a blow they couldn't recover from as Gujarat Titans clinched a comfortable win.
"Just media hype," said a relieved Sachin Kumar, executive of the Auto Vikas showroom of General Motors India in West Delhi's Moti Nagar. "There were some showroom queries on the first two days, but it died down."
Education finance is a complex and dynamic sector. There are too many variables -- the course, the calibre of students, the universities, and the job prospects once the course is over, notes Tamal Bandyopadhyay.
Mortgage lender HDFC Ltd on Monday said its board has approved raising funds through non-convertible debentures (NCDs) in tranches aggregating to Rs 57,000 crore. The board has cleared issuance of unsecured, redeemable, non-convertible debentures under a Shelf Placement Memorandum, aggregating Rs 57,000 crore, in various tranches, on a private placement basis, HDFC said in a regulatory filing. This is in accordance with the approval granted by the shareholders of the HDFC at the 45th annual general meeting held on June 30, 2022, it said.
Oravel Stays - which operates hospitality tech firm OYO - on Friday pre-filed its Draft Red Herring Prospectus with stock market regulator Sebi, sources said. Sources close to the company told PTI, OYO may launch its initial public offering (IPO) around Diwali this year. Unlike the traditional route where companies have to launch the IPO within 12 months from the Sebi approval, or final observation; in the pre-filing route, an IPO can be floated within 18 months from the date of Sebi's final comments.
The Delhi high court on Wednesday sought to know from news channel Aaj Tak why it wanted to telecast the recording of narco analysis conducted on Aaftab Amin Poonawala, the man accused of strangling his live-in partner Shraddha Walkar and dismembering her body.
After a win like that, the morale of any team would be high but Delhi will need to find a way to bat well against the star studded RCB.
Joginder Tuteja takes a look at 10 small-scale films which made big bucks.
Garcetti's nomination is pending before the US Congress since July 2021, when he was nominated for the prestigious diplomatic posting by President Joe Biden.
Mamata Banerjee promised a new era in West Bengal. Yet, workers at Haldia say that old habits of extortion and violence continue under the Trinamool flag.
The art of making Ittar (scent) is perhaps as old as civilisation.
The billionaire Mistry family's estate is likely to soon change hands. The assets in the name of Cyrus Mistry, who died in September last year, may soon be divided equally among his wife Rohiqa and sons Firoz and Zahan, according to sources. The reorganisation will also include the 9.2 per cent stake in Tata Sons, which is currently in Cyrus Mistry's name and held through his investment company Cyrus Investments.
While Abhishek Sharma and Heinrich Klaasen starred with the willow for SRH, Mitchell Marsh's all-round show went in vain as Delhi went down at home.
Wipro is in the news, again. The information technology (IT) services company has mandated freshers, who had opted for a lower salary package of Rs 3.5 lakh per annum, instead of Rs 6.5 lakh per annum, clear a new training module titled Project Readiness Program (PRP) and score at least 60 per cent or stand terminated. Wipro is not the only company to have implemented such a programme.
A day after the promoters of Adani Group prepaid $1.1 billion loans, one of the group's listed entities - Adani Ports and Special Economic Zone (APSEZ) - announced that it would prepay loans of up to Rs 5,000 crore by next month-end so as to improve its financial metrics. The company is targeting an earnings before interest, tax, depreciation and amortisation (Ebitda) of around Rs 15,000 crore this financial year. This was revealed by Karan Adani, chief executive officer (CEO) and whole-time director of APSEZ, while announcing the September-December 2022 results.
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