In a major step to support India’s industrial sector, NVIDIA and Reliance Industries today announced a collaboration to develop India’s own foundation large language model trained on the nation’s diverse languages and tailored for generative AI applications to serve the world’s most populous nation. The companies will work together to build AI infrastructure that is…
Reliance New Energy Limited (RNEL), a wholly owned subsidiary of Reliance Industries Ltd (Reliance), has signed definitive agreements to invest in Caelux Corporation (Caelux), a company headquartered in Pasadena, California, in the United States of America, engaged in the development of perovskite-based solar technology. RNEL will invest USD 12 million to acquire 20% stake in…
Reliance and Viacom18 announced a strategic partnership with Bodhi Tree Systems, which is a platform of James Murdoch’s Lupa Systems and Uday Shankar, to form one of the largest TV and digital streaming companies in India. Bodhi Tree Systems is leading a fund raise with a consortium of investors to invest Rs 13,500 crore in…
Abu Dhabi Chemicals Derivatives Company RSC Ltd (TA’ZIZ) and Reliance Industries Limited (RIL), India’s diversified conglomerate, have signed the formal Shareholder Agreement for the TA’ZIZ EDC & PVC project. The TA’ZIZ EDC & PVC joint venture will construct and operate a Chlor-Alkali, Ethylene Dichloride (EDC) and Polyvinyl Chloride (PVC) production facility, with a total investment…
Reliance New Energy Limited (Reliance), a wholly owned subsidiary of Reliance Industries Ltd, has signed definitive agreements to acquire substantially all of the assets of Lithium Werks BV (Lithium Werks) for a total transaction value of US$ 61 Million including funding for future growth. The assets include the entire patent portfolio of Lithium Werks, manufacturing…
Reliance New Energy Solar Ltd (RNESL), a wholly owned subsidiary of Reliance Industries Ltd., has signed definitive agreements to acquire 100% shareholding in Faradion Limited (Faradion) for an enterprise value of GBP 100 Mn. In addition, RNESL will also invest GBP 25 Mn as growth capital to accelerate commercial roll out, the statement said. Based…
Forbes announced its Top 100 richest people in India for the year 2021 in terms of individual net worth. As the world’s sixth largest economy reeled under huge losses because of the second wave of the pandemic, the combined wealth of the richest Indians rose to a whopping $ 775 billion which is $252 billion…
Reliance New Energy Solar Ltd (RNESL), a wholly owned subsidiary of Reliance Industries Ltd (RIL), has announced acquisition of 100% shareholding of REC Solar Holdings AS (REC Group) from China National Bluestar (Group) Co Ltd., for an Enterprise Value of USD 771 million. REC is headquartered in Norway and has its operational headquarters in Singapore…
Reliance Jio Infocomm Limited (Jio), a subsidiary of Reliance Industries Limited, and Google Cloud are embarking on a comprehensive, long-term strategic relationship with a goal of powering 5G in enterprise and consumer segments nationwide. In addition, Reliance will also take advantage of Google Cloud’s scalable infrastructure thereby enabling its retail business to achieve better operational…
Reliance Strategic Business Ventures Limited (RSBVL), a wholly owned subsidiary of Reliance Industries Limited, announced that it has acquired additional equity stake in its investee company skyTran Inc. for a consideration of $26.76 million increasing its shareholding to 54.46% on a fully diluted basis. skyTran is a technology company incorporated under the laws of Delaware,…
Reliance Industries and Reliance Retail Ventures have announced that The Public Investment Fund (PIF) will invest ₹ 9,555 crore for an equity stake of 2.04% into RRVL, a subsidiary of Reliance Industries. This investment values RRVL at a pre-money equity value of ₹ 4.587 lakh crore. This investment will further strengthen PIF’s presence in India’s…
Mukesh Ambani’s Reliance Industries Limited will roll back salary cuts for the employees of its hydrocarbons division, according to the PTI report. In addition to this, the company will pay a performance bonus to its employees that had been deferred due to the pandemic. The firm is also offering an advance 30 percent of the…
Reliance Industries Limited (RIL) and Reliance Retail Ventures Limited (RRVL) announced that a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) will invest ₹ 5,512.50 crore into RRVL, a subsidiary of Reliance Industries. This investment values RRVL at a pre-money equity value of ₹ 4.285 lakh crore. ADIA’s investment will translate into a…
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…
Global investment firm Silver Lake Partners to invest an additional Rs 1,875 crore in Reliance Retail Ventures, the retail arm of Reliance Industries Ltd (RIL), the company said in a press statement. “Reliance Industries Limited (‘Reliance Industries’) and Reliance Retail Ventures Limited (‘RRVL’) announced today that co-investors of Silver Lake will invest an additional Rs…