Page 9 - Reliance Retail

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

Reliance joins calls for govt to tighten e-commerce rules: Report

At a closed-door government meeting on Tuesday, Reliance told officials that India needed special regulations to ensure 'non-discriminatory' treatment of sellers on marketplace websites, say sources

Reliance Retail buys 54% stake in robotics startup Addverb for $132 mn

Addverb Technologies co-founder and CEO says that the company will continue to operate independently and will use the funds received from Reliance to expand business overseas as well as set up

Sensex gyrates 729 pts, ends 143 pts up; India Cements gains 15%, OIL 8%

Sectorally, the Nifty Auto and Pharma indices were the only losers, down up to 0.4 per cent

Dunzo raises $240 mn in round led by Reliance to take on Amazon, Flipkart

According to the sources, Dunzo's valuation has crossed $800 million in this funding

Top headlines: RRVL picks up stake in Dunzo; setback for 'Vibrant Gujarat'

Business Standard brings you the top headlines on Thursday

Reliance Retail to invest $200 mn in delivery firm Dunzo for 25.8% stake

Currently, Dunzo is available across 7 metro cities in India and the additional capital will be used to expand the quick commerce business to 15 cities

LIVE: West Bengal govt extends existing Covid restrictions up to Jan 15

Restrictions related to the movement of people and vehicles between 11 pm and 5 am shall be relaxed for Christmas and New Year celebrations

Reliance Retail sales up 10.5% to Rs 45,460 crore in September quarter

The net profit for the quarter of Reliance Retail was Rs 1,695 crore - higher by 74.2 per cent year-on-year

Amazon moves Supreme Court against Future Group shareholders' meet

Amazon has sought the top court's direction to set aside the NCLT order that allowed Future Group firms to hold EGMs for Reliance Retail deal

Retail, digital growth may drive Reliance Industries' Q2 earnings

The company's retail business EBITDA is seen rising with fashion, jewellery and electronics sales recovering and margins inching towards pre-pandemic levels, said brokerages

Reliance Retail acquires 52% stake in designer Ritu Kumar's company

Reliance Retail did not disclose financial details, but said the acquisition included buying out the 35% stake held by Everstone Capital in Ritika Pvt Ltd, the company that owns Ritu Kumar brands

NCLT allows Reliance Retail's shareholders to hold meetings for Future deal

The NCLT said the objections raised by American retail giant Amazon were premature and could be dealt with later

Reliance Retail bridging gaps in ambitions to create a retail juggernaut

Unlike its competitors, RR's overarching presence in all key related goods and services that has potential to influence buying patterns is its biggest advantage

Future group firms convene shareholder meetings to seek nod for RIL deal

The scheme of arrangement between Future and Reliance Retail, announced in August last year entails consolidation of Future Group's 19 companies into one entity -- Future Enterprises Ltd.

Reliance Retail Ventures brings 7-Eleven to India after Future exit

First convenience store set to open tomorrow in Andheri East

Reliance Retail to launch 7-Eleven stores in India after Future Group exit

Future had agreed to sell its retail assets to Reliance, but the deal hit a roadblock after Amazon.com challenged it.

Future Retail, 7-Eleven terminate franchise agreement after payment default

In a statement to the stock exchanges, Future Retail said no financial or business impact on the company is expected as the arrangement was at the subsidiary company level

Reliance Retail extends deadline by 6 months to complete Future buyout

'Reliance Retail Ventures Limited extended the timeline for Long Stop Date from September 30, 2021 to March 31, 2022,' says Future Retail

NCLT allows Future Group to hold EGMs to sell businesses to Reliance

Will seek shareholder approval to sell assets to Reliance Retail