The Board of Directors of RIL, at its meeting held on August 28, 2023, on the recommendation of the Human Resources, Nomination and Remuneration Committee, considered and recommended to the shareholders for approval of appointment of Isha Ambani, Akash Ambani and Anant Ambani as Non-Executive Directors of the Company. Their appointment will take effect from…
Reliance Consumer Products Limited (RCPL), the FMCG arm and a wholly-owned subsidiary of Reliance Retail Ventures Limited (RRVL), Lotus Chocolate Company Limited (LOTUS) and Prakash P Pai, Ananth P Pai & other members of the current promoter and promoter group of LOTUS, executed definitive agreements, in terms of which: a) RCPL will acquire 65,48,935 equity…
Reliance Retail Ventures Limited (RRVL) announced acquisition of 89% equity stake in Purple Panda Fashions Private Limited, which owns and operates the Clovia business, with an investment of Rs 950 crore through a combination of secondary stake purchase and primary investment. The Founding team and management will own the balance stake in the Company, a…
Dunzo, India’s leading quick commerce player, has raised US$240M in its latest round of funding. The investment was led by Reliance Retail Ventures Limited (“Reliance Retail”), with participation from existing investors Lightbox, Lightrock, 3L Capital and Alteria Capital. With an investment of US$200M, Reliance Retail will own 25.8% stake on a fully diluted basis. This…
Reliance Retail Ventures Limited (RRVL), through its wholly owned subsidiary, 7-India Convenience Retail Limited, has entered into a master franchise agreement with 7-Eleven, Inc. (SEI) for the launch of 7-Eleven convenience stores in India. The first 7-Eleven store is set to open on Saturday, October 9 in Andheri East, Mumbai. This will be followed by…
Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries Limited, announced the acquisition of controlling stake in Just Dial, India’s local search engine platform which provides search related services to users across the country. Post acquisition, VSS Mani to continue to lead Just Dial as Managing Director and Chief Executive Officer. RRVL would make…
Reliance Industries Limited and Reliance Retail Ventures Limited (RRVL) announced that global investment firm TPG will invest ₹ 1,837.5 crore into RRVL, a subsidiary of Reliance Industries. TPG’s investment will translate into a 0.41% equity stake in RRVL on a fully diluted basis. This marks the second investment by TPG in a subsidiary of Reliance…
Reliance Industries Limited and Reliance Retail Ventures Limited (RRVL) announced that General Atlantic, a leading global growth equity firm, will invest ₹ 3,675 crore into RRVL, a subsidiary of Reliance Industries. This investment values Reliance Retail at a pre-money equity value of ₹ 4.285 lakh crore. General Atlantic’s investment will translate into a 0.84% equity…
Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries Limited, announced that it is acquiring the Retail & Wholesale Business and the Logistics & Warehousing Business from the Future Group for Rs 24,713 crore, subject to adjustments as set-out in the composite scheme of arrangement. The above acquisition is being done as part of…
Reliance Industries Limited announced that its subsidiary Reliance Retail Ventures Limited (RRVL) has acquired a majority equity stake in Vitalic Health Pvt. Ltd. (Vitalic) and its subsidiaries (Collectively known as ‘Netmeds’) for a cash consideration of approximately Rs 620 crores. This investment represents ~60% holding in the equity share capital of Vitalic and 100% direct…