Reliance Group

Reliance Power board meeting on Sept 23; firm to consider fund raise

Anil Ambani's twin strategy of debt reduction, coupled with fresh capital raising, has set the stage for a long-term transformation of the Reliance Group, investors feel

Hinduja lone bidder for RCap in second auction, offers Rs 9,650 cr

Upfront payment proposed; Torrent, Oaktree skip

Unfazed by competition from RIL, expect broad-based growth in FY24: GCPL

Godrej Consumer Products Ltd is unfazed by the prospect of competition from Reliance's entry into the FMCG sector, having seen multiple disruptions, including the high-profile entry of Baba Ramdev's Patanjali, according to a top company official. The company is betting on its brand equity, wide range of portfolios and innovations to ward off competition, Godrej Consumer Products Ltd (GCPL) CFO Sameer Shah told PTI. "We have seen multiple disruptions in the FMCG sector. In 2005-06 every one said that modern retail would take the sector by storm with private labels and FMCG players would find it very difficult to compete. After 17-18 years nothing has changed with modern retail play, he said. Shah was responding to a query on how the entry of Reliance in the FMCG segment would change the competitive landscape of the sector. "It's too early to call on, he said adding, We have seen Patanjali a few years back. Five to six years back the expectation was they would take on every FMCG play

Reliance, Jio raise $5 bn in largest syndicated loan in India: Report

Reliance Industries Ltd and its telecom arm Jio Infocomm have raised a total of USD 5 billion in back-to-back foreign currency loans, the largest syndicated loan in India's corporate history, sources said. Reliance last week raised USD 3 billion from 55 banks and Reliance Jio Infocomm secured additional credit of USD 2 billion from 18 banks, sources aware of the development said. The USD 3 billion financing closed on March 31 and the add-on facility of USD 2 billion was secured on Tuesday, they said. Reliance will mainly deploy the funds raised towards its capital expenditure, while Jio would put the money to finance its nationwide 5G network rollout. The USD 2 billion add-on will be split equally between Reliance and Jio and is likely to be wrapped up by the end of April, they said. The primary syndication of USD 3 billion involved around 55 lenders, including nearly two dozen Taiwanese banks as well as global giants such as Bank of America, HSBC, MUFG, Citi, SMBC, Mizuho, and Cr

Why does this ex-deputy guv of RBI want India's biggest firms dismantled?

Part of his reasoning was that consumers could not fully benefit from input price declines as Big 5 companies control manufacturing of all major sectors as well as retail trade and telecommunications

Reliance Capital lenders to go for 2nd auction on Apr 4 to maximise return

Lenders of debt-ridden Reliance Capital (RCAP) on Monday decided to go for a second auction on April 4 in their bid to maximise recovery as part of the resolution process, sources said. According to sources, IndusInd International Holdings Ltd (IIHL) of Hinduja Group on Monday told the Committee of Creditors (CoC) it will retain the earlier bid of Rs 9,000 crore upfront cash. The 38th meeting of the CoC on March 23, 2023 was adjourned and the adjourned meeting was subsequently held today i.e. Monday, RCAP said in a regulatory filing. For a fresh round of bidding, CoC decided to set the base bid at Rs 9,500 crore on a Net Present Value basis, with a minimum cash component of Rs 8,000 crore. Earlier, the Supreme Court on March 20, 2023, admitted the appeal of Torrent Investments -- the highest bidder with Rs 8,640 crore resolution plan -- against the lenders' decision to hold another round of auction. The SC has permitted the lenders to go-ahead with further action as per the Nation

After cola, Reliance begins price war in home and personal care space

Reliance is following the challenger strategy like in the telecom space, said Devangshu Dutta, founder at Third Eyesight

Antilia bomb case: NIA declines support to former cop's plea seeking pardon

The National Investigation Agency on Thursday opposed the plea of former policeman Sunil Mane seeking to turn approver in the case pertaining to the recovery of an explosives-laden SUV outside industrialist Mukesh Ambani's residence and the subsequent murder of Mansukh Hiran. The federal agency in its written response filed before the special NIA court here said it is crystal clear that the applicant (Mane) is directly involved in the crime of this case along with the co-accused and it cannot support his plea. In a handwritten application sent to the court last month, Mane said that he had realised his mistake and that the court should consider his outstanding service record and give him a chance to repent his mistake by granting pardon. Mane was arrested by the NIA in April 2021 and is currently in judicial custody. The NIA has claimed Mane was part of the conspiracy to kill Thane-based businessman Hiran, who purportedly owned the explosives-laden vehicle that was found parked nea

Reliance Consumer expands portfolio in home, personal care segments

Reliance Consumer Products Limited (RCPL), a wholly-owned subsidiary of Reliance Retail Ventures Limited, on Wednesday said it has expanded its play in the FMCG segment by launching its range of home and personal care products. RCPL, which has ambitions to be a relevant player in the FMCG segment, will now compete with the leading players of the segments, such as HUL, P&G, Reckitt etc, with the enhanced portfolio. Now, RCPL's portfolio includes Glimmer beauty soaps, Get Real natural soaps, Puric hygiene soaps, Dozo dish wash bars and liquids, HomeGuard toilet and floor cleaners and Enzo laundry detergent powder, liquid and bars. Commenting on the development an RCPL spokesperson said: "Our ambition is to help every Indian household get access to quality products at reasonable price points". This range of home and personal care products boasts high efficacy with the superior formulation. These have been developed keeping "Real India" consumer problems at their core, he ...

In line with new govt rules, Reliance re-auctions gas from its KG-D6 block

Reliance Industries Ltd and its partner bp plc have re-launched an auction for sale of natural gas from their eastern offshore KG-D6 block after incorporating the government's new marketing rules to give CNG-selling city gas companies first priority over supplies. Reliance and its partner BP Exploration (Alpha) Ltd (BPEAL) will sell 6 million standard cubic meters per day of gas in an e-auction planned for April 3, a tender notice said. The price is indexed to the global LNG marker, JKM but will be subject to the government-notified ceiling price. The partners had originally planned the auction in January but days before that the Ministry of Petroleum and Natural Gas, on January 13, published new rules for the sale and resale of gas produced from discoveries in deep sea, ultra-deep water and high-pressure-high temperature areas. This led to the auction being suspended and is now being re-launched after incorporating changes. Gas produced from wells drilled below seabed is used to .

'The Great Indian Taste' is back: Reliance relaunches Campa Cola

Prices iconic beverage of the 70s lower than competition

Nita M Ambani launches Her Circle EveryBODY Project on Women's Day

On International Women's Day, Nita M Ambani, founder-chairperson of Reliance Foundation, launched Her Circle, EveryBODY Project - a one-stop destination to provide women-related engaging and upliftment-oriented content even as it connects women through a social platform. Her Circle was founded and launched by Nita Ambani, wife of billionaire Mukesh Ambani, in 2021 to create a safe, inclusive and growth-oriented digital haven for women. "On its second anniversary, the platform has become India's largest digital platform for women with a phenomenal overall reach of 310 million," Reliance Foundation said in a statement. Her Circle is a desktop and mobile-responsive website and is available as a free app on Google Play Store and iOS App Store. It is designed as a one-stop destination to provide women-related content that is engaging, and upliftment-oriented even as it connects women through a social platform. "She can engage as she watches vibrant videos, and reads articles with ...

Reliance said to tap McLaren's Hitesh Sethia as Jio Financial CEO

Sethia joined McLaren as its head of Europe in June last year and has been based in Frankfurt, according to his LinkedIn profile

Reliance to set up 10 gigawatt solar energy project in AP: Mukesh Ambani

Reliance Industries Chairman Mukesh Ambani on Friday said his group will be investing in Andhra Pradesh to set up a 10 gigawatt renewable solar energy project. Speaking at the inaugural session of the two-day Global Investors Summit 2023 here, Ambani said as much as Rs 1.50 lakh crore was invested in Reliances' KG-D6 assets, developing and supporting gas pipeline and the natural gas produced there is fuelling India's clean energy transition and will contribute to nearly 30 per cent of the country's gas production. "I would like to assure you that Reliance will continue to be an unflinching partner to the people and the Government of Andhra Pradesh in your state's all-around accelerated progress. This morning, I am happy to announce that we will continue our investments and we will invest in 10 gigawatts of renewable solar energy in the state of Andhra Pradesh, Ambani said. According to him, the rollout of Jio True 5G will be completed by the end of 2023 throughout the country and

Reliance to invest in 10 GW of renewable solar energy in Andhra: Ambani

Mukesh Ambani, Chairman and Managing Director of RIL, announced on Friday several new investment initiatives in Andhra Pradesh including 10 gigawatts of renewable solar energy in the state

Sanction to attach properties of DMRC not possible: Centre tells Delhi HC

The Delhi High Court on Thursday was informed by the Centre that it cannot give sanction for attachment of properties of Delhi Metro Rail Corporation (DMRC)

Norway sovereign fund raised Ambani bets ahead of Adani Group exit

Overall India bets have nearly doubled since pandemic began

Reliance opens its first store in partnership with Gap Inc. in Mumbai

Reliance Retail is the official retailer of Gap across all channels in India, the company said in a press release

Olectra Greentech unveils Hydrogen bus in partnership with Reliance

Olectra Greentech in technical partnership with Reliance on Thursday unveiled a Hydrogen Bus, which is a carbon-free alternative to traditional public transportation. Olectra Greentech Ltd (OGL), a subsidiary of Megha Engineering and Infrastructures Ltd (MEIL), is set to offer the next-generation transport system to the Indian market, a statement stated. In the wake of the depletion of natural resources and the negative impacts of air pollution and emissions, Olectra has taken the initiative to accelerate the development of Hydrogen-powered buses. This initiative will help out the Indian government to achieve carbon-free hydrogen ambitions. Olectra aims to contribute to the nation's environmentally sustainable energy security through its Hydrogen buses, the statement said. The 12-metre low-floor bus has a customisable seating capacity of 32 to 49 seats for passengers and one driver seat, it informed. A single hydrogen fill allows the bus to travel up to 400 km. Hydrogen fill for

Gautam Adani, and Mukesh Ambani are the top wealth losers this year

According to the Bloomberg Billionaires Index, Adani's wealth has eroded by more than $78 billion this calendar year