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Business India

Reliance to launch 7-Eleven convenience stores across India

Asia’s richest person is set to launch 7-Eleven convenience stores across India. The retail arm of Mukesh Ambani’s Reliance Industries says it will open its first store in Mumbai on Saturday. The announcement of the franchise agreement comes just days after rival Indian retailer Future Group ended its deal with the US chain. The Texas-based […]

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Business India World

India’s highest court rules in favour of Amazon to stop Reliance-Future Group deal

India’s Supreme Court has ruled in favour of Amazon in a decision that could shape the growth of e-commerce in India for years to come. It upheld an order by a Singapore-based arbitration panel against India’s biggest retailer, Reliance, buying the country’s second biggest retailer, Future Group. The court said the order is enforceable under […]

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Business

Silver Lake to invest $1.02 billion in India’s Reliance Retail

U.S. private equity firm Silver Lake Partners will invest $1.02 billion in its retail business of Reliance Industries Ltd, helping the company widen its lead as India’s biggest retailer. In May, Reliance launched online grocery service JioMart. It has been aggressively building its retail presence through acquisitions, moving beyond its mainstay oil and gas business. […]

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Business

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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Business

Mukesh Ambani’s JioMart to take on Amazon, Flipkart

Mukesh Ambani led Reliance Industries Limited (RIL) has launched its  e-commerce venture called JioMart. Operated by Reliance Retail, which is the retail arm of RIL. Billionaire Ambani first hinted at the e-commerce venture by calling it “new commerce initiative” last year. The Mumbai-based company is projected to connect three crores offline retailers with over 20 […]