Reliance Retail Ventures, the retailing arm of Reliance Industries, has acquired a stake of 25.8% in Bengaluru-based hyperlocal delivery company Dunzo for $200 million. Dunzo is engaged in providing instant delivery of essentials sourced from a network of micro warehouses. Its services are currently available across seven Indian cities. Reliance Retail Ventures will avail Dunzo’s […]
Reliance Industries said that its fully-owned subsidiary Reliance New Energy Solar (RNESL) has signed a £100 million deal to acquire Faradion, a British sodium-ion battery technology company. Additionally, Reliance New Energy Solar will invest £25 million as growth capital in Faradion to accelerate the commercial launch of the latter’s sodium-ion battery solutions. Faradion, which is […]
Reliance Industries Limited said that its board has today decided to execute a scheme of arrangement for transferring Gasification Undertaking into a fully-owned subsidiary. The scheduled date of the scheme will be 31 March 2022 or any other date set by the company’s board. The scheme will be subject to approval from stock exchanges, shareholders, […]
Reliance Industries Ltd (RIL) announced that it will withdraw its application to obtain the requisite approvals from the National Company Law Tribunal (NCLT) regarding the spinning off of its oil-to-chemicals (O2C) business into an independent entity. The Indian conglomerate said that the reason for the move is the evolving nature of the oil-to-chemical business. The application currently […]
Reliance Industries Limited said that its subsidiary — Reliance Retail Ventures Limited (RRVL) has acquired the amanté lingerie brand from MAS Brands for an undisclosed price. The Indian conglomerate said that the acquisition of the retail lingerie businesses is part of its journey to provide superior design led products and a compelling value proposition for […]
Reliance Industries Limited (RIL) has reported a 46% increase in its profit after tax for the quarter ended 30 September 2021 (2Q FY22) to INR 15,479 crores ($2.1 billion), compared to INR 10,602 crores ($1.41 billion) in net profit for the same period in the previous fiscal year. The earnings per share (EPS) of the […]
Reliance New Energy Solar has signed agreements with Shapoorji Pallonji and Company (SPCPL) and Khurshed Daruvala for acquiring a stake of 40% in Sterling and Wilson Solar (SWSL) for around INR 2,850 crores ($380 million). Sterling and Wilson Solar, which is part of the Shapoorji Pallonji group, is an India-based pure-play solar engineering, procurement and […]
Reliance Retail Ventures Limited (RRVL), via its fully-owned subsidiary — 7-India Convenience Retail, has signed a master franchise agreement with American convenience stores company 7-Eleven (SEI) for opening 7-Eleven convenience stores in India. The first of the planned 7-Eleven stores will open on 9 October in Andheri East, Mumbai. Following this, there will be a […]
Reliance Industries Limited said that it has established a new fully-owned subsidiary called Reliance International Limited (RINL) in Abu Dhabi, UAE. According to the Indian conglomerate, Reliance International Limited will carry out activities pertaining to trading crude oil, petroleum products, petrochemicals, as well as agricultural commodities. The Abu Dhabi subsidiary of Reliance Industries Limited is […]
Reliance Industries Limited said that JioPhone Next, the made-for-India smartphone is in advanced trials and is on track to launch before the upcoming Diwali festival. JioPhone Next is being jointly designed by its subsidiary Jio Platforms and internet giant Google. It is claimed to be the first-of-its-kind device that features an optimized operating system based […]