Reliance Jio Infocomm (Jio) has acquired spectrum in the 700MHz, 800MHz, 1800MHz, 3300MHz, and 26GHz bands for a 20-year period for INR 88,078 crores in the auctions held by the Indian government’s Department of Telecommunications. Reliance Industries, the parent company of Jio said that the acquisition of the right to use the spectrum will allow […]
Reliance Industries Limited (RIL) has reported a 40.8% increase in its net profit for the quarter ended 30 June 2022 (1Q FY23) to INR 19,443 crores ($2.5 billion), compared to INR 13,806 crores ($1.73 billion) in net profit for the same period in the previous fiscal year. In the previous quarter, that is 4Q FY22, […]
Reliance Industries Limited (RIL) has reported a 20.2% increase in its net profit for the quarter ended 31 March 2022 (4Q FY22) to INR 18,021 crores ($2.4 billion), compared to INR 14,995 crores ($1.95 billion) in net profit for the same period in the previous fiscal year. In the previous quarter, that is 3Q FY22, […]
Bodhi Tree Systems and Reliance Projects & Property Management Services have agreed to invest a combined INR 15,145 crores ($2 billion) in Viacom18 Media, an Indian entertainment network. The investment is aimed at creating one of the largest TV and digital streaming firms in India. Viacom18 is the owner and operator of the suite of […]
Reliance Industries said that its fully-owned subsidiary — Reliance New Energy has agreed to acquire substantially all of the assets of Lithium Werks, a Netherlands-based lithium battery manufacturer, for a sum of $61m, which includes funding for future growth. The assets involved in the deal include the full patent portfolio of Lithium Werks, its manufacturing […]
Reliance Strategic Business Ventures Limited (RSBVL), a fully-owned subsidiary of Reliance Industries Limited (RIL), has agreed to create a joint venture (JV) with Sanmina Corporation, an American electronics manufacturing solutions company. The joint venture is being created through an investment of INR 1,670 crores by Reliance Strategic Business Ventures in Sanmina’s Indian entity — Sanmina […]
Glance, a leading AI-driven lock-screen platform, announced today that it has agreed to raise US$200 million from Jio Platforms Limited (“Jio”) in its Series D round of funding. Jio Platforms, a subsidiary of Reliance Industries, has announced an investment of $200 million in Glance, an artificial intelligence (AI) driven lock-screen platform. The investment is part […]
Reliance Industries said that its majority-owned subsidiary Jio Platforms has acquired a stake of 25% in Two Platforms Inc., a deep tech startup based in the Silicon Valley, for a sum of $15 million. Founded by Pranav Mistry in July 2021, Two Platforms is an artificial reality company, which is engaged in developing interactive and […]
Reliance Industries Limited (RIL) has reported a 37.9% increase in its net profit for the quarter ended 31 December 2021 (3Q FY22) to INR 20,539 crores, compared to INR 14,894 crores in net profit for the same period in the previous fiscal year. In the previous quarter, that is 2Q FY22, the Mukesh Ambani-led group […]
The Mukesh Ambani led Reliance Industries Limited is set to acquire a 73.37% stake in Mandarin Oriental New York, a luxury hotel in New York City for about $98.15 million. The transaction will be carried out by the Indian conglomerate’s fully-owned subsidiary — Reliance Industrial Investments and Holdings Limited (RIIHL). It will be through the […]