Zupee, India’s largest skill-based casual gaming company, has announced a first-of-its-kind strategic partnership with Jio Platforms Limited. This will entail integration of products and strong synergies in user engagement and distribution in a future-ready ecosystem that will benefit over 450 million users, a statement said. With this new synergy, the aim is to build an ecosystem that…
Reliance Jio Infocomm Ltd (RJIL) announced that it has concluded the definitive Agreement entered with Bharti Airtel Limited for acquisition of right to use spectrum in the 800MHz band in Andhra Pradesh (2 x 3.75 MHz), Delhi (2 x 1.25 MHz) and Mumbai (2 x 2.5 MHz) circles through spectrum trading, which has been taken…
British Columbia Investment Management Corporation, alongside Brookfield Infrastructure Partners L.P. and its institutional partners, announced that they have acquired a 100 per cent stake in a telecom tower company in India from Reliance Industrial Investments and Holdings Limited, a wholly-owned subsidiary of Reliance Industries Limited. The total equity commitment for the transaction is approximately $3.4…
Online retail giant Amazon is reportedly in talks with Indian mobile operator Bharti Airtel to buy a stake worth at least $2 billion. According to a Reuters report, the deal is expected to “turbocharge” India’s digital economy. If the alleged transaction comes through, Amazon would roughly acquire 5% stake in the country’s third largest telecom…
After US-based corporations like Facebook, General Atlantic and KKR invested heavily in Mukesh Ambani-led Jio Platforms, global tech giant Microsoft is reportedly in talks with the company for a potential investment of $2bn. Jio Platforms is the digital unit of Reliance Industries Limited. According to a LiveMint report, Microsoft has been in discussions with several…
Mukesh Ambani-led Reliance Jio’s much anticipated e-commerce project JioMart has finally gone live after months of testing and trial projects. The company started receiving orders from serviceable pin codes soon after the website went live. In an attempt to lure new customers, the website is selling certain products at a minimum of 5% discount on…
US-based investment firm General Atlantic recently announced that it will be investing ₹6,600 crore in Mukesh Ambani-led Jio Platforms for a 1.34% stake in the company. According to a company statement, the investment values Jio Platforms at an equity value of ₹4.91 lakh crore and an enterprise value of ₹5.16 lakh crore. “This investment continues…
In an attempt to strengthen its ecommerce footprint, Indian multinational conglomerate Reliance Industries Limited is reportedly in advanced talks to acquire a majority stake in Epharmacy startup Netmeds. According to a Times Of India report, Reliance, through one of its subsidiaries, may pay about $150mn for the assets including fresh capital infusion in the ten-year-old…
Days after Reliance and Facebook signed the $5.7 billion deal, Mukesh Ambani’s ambitious project JioMart has gone live on WhatsApp. Currently in its pilot phase, the service is live only in some areas of Mumbai including Navi Mumbai, Thane and Kalyan. The company plans to roll out the service in other parts of the country…
Reliance Industries Ltd, Jio Platforms Ltd and Facebook, Inc. announced the signing of binding agreements for an investment of ₹ 43,574 crore by Facebook, acquiring 9.9% equity share in Jio Platforms. This investment by Facebook values Jio Platforms at ₹ 4.62 lakh crore pre-money enterprise value. “This is the largest investment for a minority stake…
Subsidiary of Rashmi Group, a multidimensional business conglomerate operating across Asia – Rashmi Rare Earth Limited (RREL) announced collaboration with Reliance Jio to manufacture set-up boxes locally in its Noida facility. RREL is a home-grown manufacturer with state-of-the-art Japanese machines which can manufacture the latest 5G enabled electronic products. Reliance Jio has plans to reach…
The global leader in solar home energy products, Greenlight Planet, has been honored with The Economic Times’ ‘Champion of Rural Markets’ award. The award was received by Priyabrata Das, Retail Business Leader, Asia, and Sahil Khanna, Partnerships Leader, Asia in New Delhi on 13th December 2019. The company has been operating in India since 2009…