- This deal between Reliance and Amazon can be in 1.47 lakh crores
- Before this, Amazon has talked about investing in Reliance Retail
Mukesh Ambani’s company Reliance Industries Ltd. (RIL) has offered a $ 20 billion (about 1.47 lakh crore) stake in its retail business Reliance Retail Ventures Limited (RRVL) to giant e-commerce company Amazon.in (Amazon.in).
A Bloomberg report says that Reliance Industries has offered Amazon to buy a 40% stake in its Reliance retail business. That is, if this deal happens, Reliance can give 40% of its retail subsidiaries to Amazon.
Could be Reliance’s biggest deal?
The report quoted sources as saying that Amazon Inc. has shown interest in Reliance Retail Ventures Limited. However, when we confirmed this to Reliance, the company spokesperson said that we cannot comment on this as per the company’s policy. Our company believes in working continuously by evaluating various opportunities. Under the Sebi Regulator 2015 and the deal with the stock exchanges, we keep them informed by following our obligation. Explain that if this deal is reached between Amazon Inc. and Reliance Industry, then it will be the biggest deal of Reliance so far.
Silver Lake will invest Rs 7500 crore
Shares of Reliance Industries rose to an all-time high of Rs 2089.90, gaining gains for the fourth consecutive day. On Wednesday, American company Silver Lake Partners announced an investment of Rs 7500 crore in Reliance Retail. With this, the market cap of Reliance on BSE has gone up to Rs 15.25 lakh crore. Earlier, Silver Lake also invested in Reliance’s tech company Jio Platform.
Mukesh Ambani is preparing to enter the retail business
Mukesh Ambani, chairman of Reliance Group, which deals in oil to telecom business, is preparing to enter the retail business in India. Mukesh Ambani is looking for potential investors for this expansion. A recent media report claimed that US-based retail giant Walmart Inc is also in talks to buy a stake in Reliance Retail. Walmart Inc. also bought the Indian e-commerce company Flipkart in 2018.
Reliance Retail and Future Group deal for 24713 crores
Reliance Retail Ventures Ltd (RRVL), a subsidiary of Reliance Industries, is going to acquire the retail and wholesale business and logistics and warehousing business of Future Group. This will allow Reliance to reach over 1,800 stores of Future Group’s Big Bazaar, EGDay and FBB, spread across 420 cities in the country. This deal has been finalized in 24713 crores.
About Reliance Retail Ventures Limited (RRVL)
Reliance Retail Ventures Limited is a subsidiary of Reliance Industries. It is the holding company of all the retail companies of the Reliance Group. Reliance Retail Ventures Limited had a turnover of Rs.162936 crore for the financial year ended March 31, 2020. At the same time, the company also made a profit of Rs 5448 crore. The company ranks 56th among the world’s fastest-growing retail companies. At the same time, Reliance Industries is the largest private company in the country. Its annual turnover is 659205 crores. At the same time, the company had a profit of Rs 39880 crore in the financial year ended 31 March 2020.