Page 8 - Reliance Retail

Reliance Retail Ventures acquires 89% stake in Clovia for Rs 950 crore

The founding team and management will own the balance stake in the company, which include Pankaj Vermani, Neha Kant, and Suman Choudhary, who launched Clovia in 2013

Reliance Retail pays Rs 950 cr for 89% stake in D2C lingerie brand Clovia

The firm will invest Rs 950 crore via a combination of secondary stake purchase and primary investment

Future group firms to convene shareholder, creditors meeting in April

Future Group's 19 companies operating in retail, wholesale, logistics and warehousing assets would be consolidated into one entity, FEL, and then transferred to Reliance

SC seeks Future's response on Amazon's plea on resumption of arbitration

The Supreme Court asked the Future group to file its reply to an interim plea of Amazon seeking resumption of arbitration over Future Retail's merger deal with Reliance Retail

Amazon's demand for $200 million sank settlement talks with Future

Amazon has for months blocked the $3.4 billion sale of Future's retail assets to rival Reliance, announced in 2020, citing a breach of certain contracts

Top headlines: 4-1 for BJP at polls; Morgan Stanley lowers Sensex target

Business Standard brings you the top headlines on Friday

Reliance Retail terminates sub-lease of 950 Future stores

Billionaire Mukesh Ambani's Reliance Retail has slapped notices on Future Retail for terminating sub-leases of 950 stores it had taken over previously.

How Mukesh Ambani outfoxed Amazon in a $3.4-bn deal dispute

Reliance jolted Amazon by taking over Future's stores, staff even as the e-commerce giant furiously tried to block formal acquisitions through lawsuits and arbitration across India and Singapore

Future Group cos to convene shareholder, creditors meeting from April 20-23

Future Group companies would convene meetings of their respective shareholders and creditors between April 20 and April 23, 2022

Reliance Retail Ventures buys majority stake in Abraham & Thakore

Last year, RIL arm had partnered Manish Malhotra's brand and Raghavendra Rathore's company

Future Group firms' stock jumps as Reliance plans retail stores' takeover

Shares of Future Supply Chain Solutions, Future Retail, Future Lifestyle Fashions, Future Consumer and Future Enterprises rose between 7% and 16%

Reliance Retail grew its retail footprint by 39% amid pandemic: Bernstein

Reliance Retail continues to execute strongly and has grown its retail footprint by 39 per cent (in sq.ft) since pandemic, added multiple brands, Bernstein said in a report.

After Glance, InMobi's Roposo to enter business deal with Reliance Retail

InMobi's social media arm Roposo is in discussions with Reliance Retail for a social commerce related business deal which is expected to be rolled out in the next two quarters, a top official said

SC allows Future Retail to move HC to seek resumption of NCLT proceedings

Senior advocate Harish Salve, representing Future Retail, argued that the proceedings before the NCLT have reached the stage listed at serial no 8 (meeting of the shareholders and creditors)

Glance raises $200mn from Jio Platforms; partners with Reliance Retail

Will use funds for expanding into global markets such as the US, Russia, Brazil and Mexico

Delhi HC to hear Amazon-Future cases over deal with Reliance on Feb 24

The Supreme Court had set aside the high court's order of February 2 last year, by which it had directed FRL to maintain the status quo concerning the merger deal

CLSA upgrades RIL to buy; sees stock at Rs 2,955 in a year's time

Reliance Jio, following its peers Bharti Airtel and Vodafone Idea (Vi), hiked its prepaid tariff plans by around 20 per cent across the board (including around 21 per cent in base JioPhone level plans

Reliance Retail sees 23.4% rise in net profit; revenues up 53.4%

All-time high revenues across all consumption baskets

Reliance Retail Q3 pre-tax profit up 24% to Rs 3,822 cr; revenue rises 53%

Its revenue from operations stood at Rs 50,654 crore, up 53.41 per cent from Rs 33,018 crore in the corresponding period of last fiscal

Reliance Retail acquires about 55% stake in Addverb Technologies: RIL

Reliance Retail had acquired about 55 per cent stake in robotics firm Addverb Technologies in July 2021, Indian conglomerate Reliance Industries Limited said in a filing on Wednesday. Addverb Technologies co-founder and CEO Sangeet Kumar has told PTI that Reliance Retail has invested USD 132 million (about Rs 983 crore) in the company and will hold around 54 per cent stake in the robotics start-up. "Reliance Retail Ventures Limited (RRVL) had acquired approximately 55 per cent stake in Addverb Technologies Private Limited (Addverb) in July 2021," RIL said in the filing. Kumar had said Reliance was already one of Addverb's clients, with whom the company had co-created and delivered highly automated warehouses for their Jio-Mart grocery business. The comfort level and the trust factor were already in place, which led to the association between the two firms, he said. The strategic partnership with Reliance Retail will help Addverb Technologies leverage 5G, battery technology through