Budget 2018-19

  Future had agreed to sell its retail assets to Reliance, but the deal hit a roadblock after Amazon.com challenged it. Dallas-based 7-Eleven Inc (SEI) has signed an agreement with Reliance Retail Ventures (RRV) to launch convenience stores in India, days after Future Retail Ltd ended its deal with the US chain. The first 7-Eleven store will open on Saturday in Andheri, Mumbai. RRV said in a statement. It will then roll out more stores in neighbourhoods and commercial areas in the Greater Mumbai. “At Reliance, we pride ourselves in offering the best to our customers and we are proud to bring 7-Eleven, the globally trusted convenience store, to India,” said Isha Ambani, director,  Reliance Retail Ventures Limited . “India is the second largest country in the world and has one of the fastest-growing economies. It’s an ideal time for the largest convenience retailer in the world to make our entry into India” said SEI President and Chief Executive Officer, Joe DePinto. Earlier thi...

  This is the second such investment by General Atlantic in a Reliance venture following a Rs 6,598.38 crore investment in Jio Platforms announced earlier this year General Atlantic, a leading global growth equity firm will invest Rs 3,675 cr in Reliance Retail Ventures Limited, RIL said in a BSE filing on Wednesday. General Atlantic’s investment will translate into a 0.84% equity stake in RRVL. The deal values Reliance Retail at a pre-money equity value of Rs 4.285 trillion, said RIL in a media release. Reliance Retail Ventures Limited is a subsidiary of Reliance Industries Limited, and holding company of all the retail companies under the RIL Group. It reported a consolidated turnover of Rs 162,936 crore ($ 21.7 billion) and net profit of Rs 5,448 crore ($ 726.4 million) for the year ended March 31, 2020. General Atlantic had also invested Rs 6,598.38 crore in another RIL subsidiary, Jio Platforms earlier this year. ALSO READ: Mubadala in advanced talks to invest up to $1 bn in R...

Earlier, Silver Lake had invested Rs 7,500 cr into Reliance Retail Ventures, valuing the business at about Rs 4.2 trillion Global investment firm KKR will invest Rs 5,500 crore in Reliance Retail for 1.28 per cent equity share, Reliance Industries Limited said in a BSE filing on Wednesday. This marks the second investment by KKR in a Reliance subsidiary, following a Rs 11,367 crore investment in Jio Platforms announced earlier this year. KKR’s investment values Reliance Retail at a pre-money equity value of Rs 4.21 trillion. “I am pleased to welcome KKR as an investor in Reliance Retail Ventures as we continue our onward march. KKR has a proven track record of being a valuable partner to industry-leading franchises and has been committed to India for many years,” said Mukesh Ambani in a statement issued by RRVL. Reliance Retail runs supermarkets, India’s largest consumer electronics chain store, a cash and carry wholesaler, fast-fashion outlets and an online grocery store JioMart. The ...