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Indian stock exchange approves Future Group’s $3.4 billion deal with Reliance Industries

Indian regulators gave the go ahead for Future Group’s $3.4 billion deal with Reliance Industries to sell its retail assets, taking it a step closer toward closing a deal that has soured its ties with its business partner Amazon.com Inc. Future and Amazon are locked in legal tussles over the Indian group’s August deal with […]

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Reliance Industries to acquire Future Group’s retail, wholesale, logistics and warehousing business for $3.38 billion

Reliance Industries on Saturday said it has agreed to acquire the retail and wholesale business and the logistics and warehousing business of Future Group in a deal valued at $3.38 billion, including debt. Future Group’s business has been hit by a slowing economy and the impact of the coronavirus pandemic. Mukesh Ambani-led Reliance has recently […]

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Alphabet’s Google purchases 7.7% in Reliance’s Jio Platforms for $4.5 billion

Google’s parent firm Alphabet will purchase 7.7% stake in Reliance Industries Ltd digital arm Jio Platforms for US$ 4.5 billion. Reliance Industries, , India’s most highly-valued company run by billionaire Mukesh Ambani has raised $20.22 billion by selling nearly 33% of Jio Platforms which houses music, movie apps and telecoms venture Jio Infocomm. In recent months  […]

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Intel to invest $253.55 million in Jio Platforms

American multinational corporation and technology company, Intel will pick up 0.39 percent stake in Reliance Industries Ltd arm Jio Platforms for $253.55 million. The investment from Intel Capital comes after Facebook, General Atlantic, and Silver Lake picked up stake in recent months. The deal has valued Jio Platforms at $65 billion. Jio Platforms has raised […]

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Reliance Industries now net debt-free, announces chairman Mukesh Ambani

Reliance Industries (RIL) chairman Mukesh Ambani on Friday announced that the record investments the company received from some of the world’s top financial investors in its digital unit Jio Platforms and a mega share sale helped it become net debt-free well ahead of the March 2021 target. “Today I am both delighted and humbled to […]

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Equity giant KKR invests ₹11,367 crore in Jio Platforms

Reliance Industries on Friday announced the sale of a 2.32 per cent stake in its digital arm to US private equity giant KKR for Rs 11,367 crore, the fifth deal in four weeks that will inject a combined Rs 78,562 crore in the oil-to-telecom conglomerate to help it pare debt. This is KKR’s largest investment […]

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Silver Lake invests $746.74 million in Jio Platforms

Reliance Industries said on Monday that private equity firm Silver Lake will invest Rs 5,656 crore or $746.74 million in its digital arm, giving it a valuation of Rs 4.90 lakh crore. The transaction is subject to regulatory and other customary approvals. The deal comes days after Facebook announced an investment of Rs 43,574 crore […]

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Reliance Industries profit dropped 39% to ₹6,348 crore in Match quater

Reliance Industries’ net profit dropped 39 per cent to Rs 6,348 crore in March quarter on the back of slump in crude oil prices amid outbreak of COVID-19, the company said in exchange filing on Thursday. The company had reported profit of Rs 10,362 crore in the same quarter last year. Revenue of Mukesh Ambani-led […]