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India's Reliance Retail in $1.5 bln Gulf, Singapore funds talks -sources

Reuters · 1y ago

India's Reliance Retail in $1.5 bln Gulf, Singapore funds talks -sources

Reliance Retail, India's largest retailer, is reportedly in discussions with existing investors, including Singapore's GIC, Abu Dhabi Investment Authority (ADIA), and Saudi Arabia's Public Investment Fund (PIF), for combined new investments totaling around $1.5 billion. This initiative is part of Reliance's goal to raise $3.5 billion by the end of September. The investors are looking to invest at least $500 million each in Reliance Retail at a valuation of $100 billion. Reliance Retail has witnessed significant growth and expansion in recent years, with investments from various stakeholders.

Related News

Exclusive: Reliance Retail Writes Off $200 Mn Dunzo Investment

Inc42 · 7m ago

Exclusive: Reliance Retail Writes Off $200 Mn Dunzo Investment

Reliance Retail, the largest shareholder in troubled hyperlocal startup Dunzo, has written off its $200 Mn investment in the company, multiple sources privy to developments told Inc42. Reliance is also not involved in any talks to infuse funds into DunzoDunzo Datalabs_in-article-icon or acquiring it in a distress sale after the company’s cash crunch and retreat from quick commerce in the past 24 months. Meanwhile, Dunzo cofounder and CEO Kabeer Biswas according to our sources is leading talks with high net worth individuals and family offices for an acquisition deal that would value the startup at INR 300 Cr ($25 Mn-$30 Mn).

Reliance Jio IPO set for 2025, retail arm to make debut much later

VCCircle

VCCircle · 9m ago

Reliance Jio IPO set for 2025, retail arm to make debut much later

Indian billionaire Mukesh Ambani plans to list his telecom business, Reliance Jio, in 2025, while the IPO for his retail unit will come later, according to sources. Ambani, the chairman of Reliance Industries, had previously stated that both businesses would move towards an IPO within five years. The sources said the company aims to address internal challenges and achieve stability in its retail unit before going public. The Reliance Jio IPO, slated to be India's largest to date, is expected to value the company at around $112bn.

Mukesh Ambani's Reliance Retail in talks to raise $2.5 billion: Report

Livemint

Livemint · 1y ago

Mukesh Ambani's Reliance Retail in talks to raise $2.5 billion: Report

Reliance is reportedly aiming to raise $2.5 billion in a fundraise, part of its $3.5 billion target. The company recently secured $1 billion from the Qatar Investment Authority (QIA) at a $100 billion valuation. Reliance did not confirm the reports but stated they continually evaluate opportunities. Morgan Stanley is advising on the process, and potential investors remain undisclosed, although sources suggest talks with U.S.-based investors and interest from existing foreign investors and sovereign wealth funds. This investment highlights India's appeal to Western investors amidst concerns over China's economic outlook and geopolitical tensions.

KKR, GIC eye Carlyle’s Nxtra stake; Reliance Retail Ventures to raise funds

VCCircle

VCCircle · 1y ago

KKR, GIC eye Carlyle’s Nxtra stake; Reliance Retail Ventures to raise funds

Private equity firm Carlyle Group is reportedly in talks to sell its 24% stake in Nxtra Data, the data center subsidiary of Bharti Airtel. Potential buyers include sovereign wealth funds Abu Dhabi Investment Authority and Singapore's GIC, as well as private equity giant KKR. Meanwhile, Reliance Retail Ventures is looking to raise funds as it continues its aggressive expansion strategy in the retail sector.

ETtech Explainer: Inside Amazon’s victory against Future Group in Reliance deal - The Economic Times

Economic Times

Economic Times · 1m ago

ETtech Explainer: Inside Amazon’s victory against Future Group in Reliance deal - The Economic Times

Amazon won a legal battle against Future Group, as the Singapore International Arbitration Centre ruled Future violated a contract by selling its retail business to Reliance in 2020. Despite investing $200 million in Future, Amazon was awarded only Rs 23.7 crore in damages, far less than its Rs 1,436 crore claim. The battle stemmed from Amazon's contractual right to block Future's sale, highlighting tensions in India's competitive retail landscape.

India's Arvind Fashions to sell Sephora retail division to Ambani's Reliance

Reuters · 1y ago

India's Arvind Fashions to sell Sephora retail division to Ambani's Reliance

Arvind Fashions, an Indian fashion retail company, has announced the sale of its beauty brands division to Reliance Retail, the retail unit of billionaire Mukesh Ambani's Reliance Industries, for $11.89 million. The division retails products of LVMH-owned beauty chain Sephora. The deal will strengthen Reliance's portfolio of international brands, and comes after previous reports of unsuccessful talks for a partnership between Sephora and Reliance Retail. Arvind Fashions shares surged 7.3% following the announcement.

PhonePe eyes South East Asia, Middle East for its global forays

Economic Times

Economic Times · 1y ago

PhonePe eyes South East Asia, Middle East for its global forays

PhonePe, a digital payments company, is reportedly planning to expand its retail payment operations into new regions, including Southeast Asia and the Gulf region. The company intends to apply for payment licenses in countries like Singapore and the Gulf region and establish consumer-facing payment systems for local residents. PhonePe aims to leverage its expertise in scaling up business in India to tap into the opportunities presented by digitized payments in these regions. The move comes as the National Payments Corporation of India seeks to promote the adoption of Unified Payments Interface outside of India.

Mankind Pharma in talks with PE for consortium bid of Bharat Serums: Report

Livemint

Livemint · 1y ago

Mankind Pharma in talks with PE for consortium bid of Bharat Serums: Report

Pharmaceutical company Mankind Pharma is reportedly in talks with private equity firms, including Bain Capital, Blackstone, Carlyle, and KKR, to form a consortium bid to acquire Bharat Serums and Vaccines (BSV). BSV is being sold by its current owner, Advent International, with a price tag of over $2 billion. However, sources suggest that the final transaction may range between $1.5 - 1.8 billion. Mankind Pharma is looking to gather funds for the potential acquisition, either independently or by partnering with another investor. The company is also planning to raise funds through a qualified institutional placement.

RIL Tata JV: Mukesh Ambani's Reliance mulls buying 29% stake in Tata Play

Livemint

Livemint · 1y ago

RIL Tata JV: Mukesh Ambani's Reliance mulls buying 29% stake in Tata Play

Mukesh Ambani's Reliance Industries (RIL) is reportedly in talks to acquire a 29.8% stake in Tata Play, the satellite TV and streaming service owned by Walt Disney. This potential deal would expand RIL's presence in the television distribution sector, potentially creating a major media powerhouse in India. RIL is also in merger talks with Disney to create a media behemoth, with Reliance potentially investing $1.5 billion for a 60% stake. RIL's share price recently hit a record high, propelling its market capitalization to nearly ₹20 lakh crore.

UK's Superdry to sell S.Asia IP assets to India's Reliance Retail for $48 mln

Reuters · 1y ago

UK's Superdry to sell S.Asia IP assets to India's Reliance Retail for $48 mln

UK fashion retailer Superdry has announced plans to sell its intellectual property assets in South Asia to Reliance Retail, India's largest retailer, for £40 million ($48.27 million). The deal will be conducted through a joint venture, with Superdry and Reliance Retail owning 24% and 76% respectively. Superdry expects to receive gross cash proceeds of £30.4 million. Reliance Retail will oversee brand operations in India, Sri Lanka, and Bangladesh.

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