Reliance Retail Ventures Limited (RRVL) said that its FMCG arm Reliance Consumer Products Limited (RCPL) will acquire a 50% stake in Sosyo Hajoori Beverages (SHBPL), a Gujarat-based beverage company. The financial terms of the deal were not disclosed by Reliance Retail Ventures, which is part of Indian conglomerate Reliance Industries. Through the deal, Reliance Consumer […]
Reliance Retail Ventures, an arm of Reliance Industries, will acquire Metro Cash & Carry India (Metro India), a wholly-owned subsidiary of Germany-based Metro AG, for Rs 2,850 crore, to further strengthen its new commerce business. The acquisition will also increase Reliance Retail’s store footprint across India with the addition of Metro India’s multi-category large format […]
Ambri, a US-based energy storage solutions manufacturer, has signed a memorandum of understanding (MoU) with multinational conglomerate Reliance Industries to help the latter achieve its net-zero carbon targets. Under the MoU, Reliance Industries will receive Ambri pilot system as part of its broader energy storage system manufacturing plans and implementation in India. Reliance Industries is […]
Sanmina Corporation, an American electronics manufacturing solutions company, has wrapped up the previously announced joint venture (JV) transaction with Reliance Strategic Business Ventures Limited (RSBVL), a fully-owned subsidiary of Reliance Industries Limited (RIL). Announced in March 2022, the joint venture is for creating an electronic manufacturing hub in India, based at the 100-acre campus of […]
Power Grid Corporation of India Limited (Powergrid) said that its board of directors has sanctioned an INR 327.71 crores for a transmission project in Gujarat, which involves linking one of its pooling stations with the Jamnagar oil refinery of Reliance Industries Limited (RIL). The pooling station is the Jam khambhaliya ISTS PS located in Khambhalia […]
Reliance Industries said that its fully-owned subsidiary Reliance New Energy Limited (RNEL) has agreed to acquire a stake of 20% in Caelux Corporation, a California-based developer of perovskite-based solar technology. The consideration for the deal is $12 million. According to Reliance Industries, its investment will help Caelux expedite product and technology development. This includes the […]
Reliance Industries has announced plans to carry out the shutdown of a crude distillation unit (CDU) and fluidized catalytic cracker (FCC) of its SEZ refinery in Jamnagar for general maintenance and inspection activities. According to Reliance Industries, the shutdown period is likely to be around three to four weeks for crude distillation unit beginning on […]
Reliance Industries said that its fully-owned subsidiary — Reliance Petroleum Retail Limited (under name change to ‘Reliance Polyester Limited’) has agreed to acquire the polyester businesses of Shubhalakshmi Polyesters Limited (SPL) and Shubhlaxmi Polytex Limited (SPTex) for a total of INR 1,592 crores. Reliance Polyester will pay INR 1,522 crores to Shubhalakshmi Polyesters. The latter […]
Reliance Industries Limited (RIL) has agreed to acquire a stake of 79.4% in SenseHawk, a California-based start-up that develops software-based management tools for the solar energy generation industry. The consideration of the deal is $32 million, which covers funding for future growth, commercial launch of products, and research and development (R&D). SenseHawk is said to […]
Reliance Industries said that Jio Platforms is partnering with social technology company Meta to launch ‘JioMart on WhatsApp’ — an end-to-end shopping experience on WhatsApp to enable consumers to shop from JioMart from their WhatsApp chat itself. JioMart on WhatsApp will let users in India, including those who are yet to shop online browse through […]