Indian market regulator fines Reliance for not properly disclosing Facebook deal – TechCrunch

India’s market regulator fined Reliance and two of its officers on Monday for not properly disclosing Facebook’s $5.7 billion investment into Jio Platforms in April 2020. The Securities and Exchange Board of India said that media had reported about the then-impending deal in March itself, which prompted the shares of the group company to rise. … Read more

Reliance Defends Takeover of Future Stores in Letter, Says Mounting Dues Compelled It to Act Beyond Expectations

India’s high retailer, Reliance, has privately defended an abrupt takeover of the shops of debt-laden rival Future Retail, saying mounting dues of $634 million (roughly Rs. 4,800 crore) compelled it to behave past expectations, an organization letter exhibits. The takeover was a part of the race to dominate a $900-billion (roughly Rs. 68,11,875 crore) retail … Read more

Reliance Retail acquires majority stake in D2C brand Clovia for $125 million – TechCrunch

Mukesh Ambani-controlled Reliance Retail mentioned on Sunday night it’s buying a majority stake of 89% in direct-to-consumer model Clovia for $125 million as the most important Indian retail chain seems to be to increase its footprints within the attire and innerwear classes. Eight-year-old Clovia, which operates a “bridge-to-premium D2C model” and sells over 3,500 merchandise … Read more

Reliance Buys Assets of Battery Maker Lithium Werks in Clean Energy, Transport Push

Reliance Industries has acquired the belongings of battery maker Lithium Werks for $61 million (roughly Rs. 466 crore), its second such deal in lower than three months, because it makes an even bigger push in the direction of clear vitality and transport. Reliance’s funding in Lithium Werks, which manufactures lithium iron phosphate batteries which can … Read more

Amazon accuses estranged Indian partner Future and Reliance of fraud in newspaper ads – TechCrunch

Amazon’s two-year effort to halt a $3.4 billion deal between its estranged associate Future Group and Reliance Retail took a brand new activate Tuesday as tens of hundreds of thousands of Indians woke as much as discover the American e-commerce large airing its grievances in a number of newspapers. Amazon has accused Future Group (which … Read more

Amazon’s Battle With Reliance for India Retail Supremacy: All You Must Know

For greater than a 12 months, Amazon and Future Group have been locked in a fancy authorized stand-off that has stalled Future’s $3.4 billion (roughly Rs. 26,160 crore) sale of property to rival Reliance Industries, the nation’s largest conglomerate. After buying and selling barbs in courtrooms for months, Amazon and Future unexpectedly agreed on March 3 to carry discussions … Read more

Reliance to speculate $221 million for electronics manufacturing with Sanmina in India – TechCrunch

Reliance Industries plans to speculate as much as $221 million in American electronics agency Sanmina to arrange a three way partnership because the Indian large seems to be to develop its electronics manufacturing. The three way partnership goals to create a “world-class” digital manufacturing hub in India, the 2 mentioned. It can prioritize excessive expertise … Read more

Reliance Mentioned to Be Taking Management of Future Retail Shops and Supply Jobs to Workers Regardless of Amazon Dispute

Reliance Industries has successfully taken over the operations of Future Retail shops and has supplied jobs to its staff, even because the Kishore Biyani-led group is locked in a bitter battle with e-commerce main Amazon at a number of judicial boards over the sale of its enterprise to the retail arm of the oil-to-telecom conglomerate. … Read more

InMobi’s Roposo in Discussions for Social Commerce Enterprise With Reliance Retail

Digital know-how agency InMobi’s social media arm Roposo is in discussions with Reliance Retail for a social commerce associated enterprise deal which is anticipated to be rolled out within the subsequent two quarters, a prime official stated on Tuesday. SoftBank-backed InMobi’s co-founder and CEO Naveen Tewari advised PTI in an interview that the corporate is … Read more