Reliance buys furniture retailer Urban Ladder

Reliance Industries Ltd said on Sunday it has bought a 96% stake in online furniture retailer Urban Ladder for 1,821.2 million rupees ($24.4 million), furthering its attempt to expand its presence in India’s online retail market. Continue Reading

Reliance raises Rs 7,350 crore from 2 investors

Billionaire Mukesh Ambani’s Reliance Industries Ltd on Friday announced to raise Rs 7,350 crore from two investors — Singapore’s sovereign wealth fund GIC and Global alternative asset firm TPG — by selling a stake in group’s retail arm. Continue Reading

RIL’s retail arm receives Rs 7,500 cr from Silver Lake

Mukesh Ambani’s Reliance Industries Ltd (RIL) on Saturday said it has received Rs 7,500 crore from US private equity firm Silver Lake Partners, which has picked up 1.75 per cent stake in its retail arm. Continue Reading

Reliance breaks into top 100 global companies

Billionaire Mukesh Ambani’s Reliance Industries has jumped 10 places to break into the world’s top 100 companies on the Fortune Global 500 list. The oil-to-telecom conglomerate is ranked 96th in the 2020 ranking released by Fortune on Tuesday. Continue Reading

Expect affordable ‘Indiagenous’ 5G phone in a year: RIL

In a major development amid the chorus for an ‘Aatmanirbhar Bharat’ or self-reliant India, Reliance Industries (RIL) Chairman Mukesh Ambani on Wednesday announced that Reliance Jio has developed a complete 5G solution from scratch. Continue Reading

Jio Platforms raises Rs 92,202 cr in six weeks

Reliance Industries Ltd and Jio Platforms Ltd announced on Friday that Silver Lake and its co-investors will invest an additional Rs 4,546.80 crore in Jio Platforms. Continue Reading

BSNL hopes to boost market share, no plans to shut

Crisis-ridden Bharat Sanchar Nigam Ltd (BSNL) is hoping to boost marketshare, following Reliance Jio’s decision to charge six paise per minute for voice calls made to mobile phone networks of rival operators. Continue Reading

Vodafone Idea: Jio’s action an undue haste

Telecom operator Vodafone Idea termed Reliance Jio’s plan to start charging six paise per minute for outgoing calls to rival network as “an action of undue haste” and an attempt to distract attention from the need for urgent action to address financial stress in the sector. Continue Reading

War of words between Airtel and Jio

After months of lull, old and new telcos have locked horns with Airtel accusing Reliance Jio of “gaming” the system of paying for calls to rival network, a charge that Mukesh Ambani-led firm countered saying incumbents were charging high voice tariffs and manipulating the system to detriment of their users. Continue Reading