Reliance Industries raises $4 bln in largest dollar bond issue from India

Reliance Industries has raised $4 bln (around Rs 30,000 cr) via the largest ever foreign currency bond issuance by an Indian entity. The amount will be used to retire the group’s existing debt. The bonds have been issued in 10-year, 30-year and 40-year maturities, and also mark the first time any BBB-rated Asian company outside […]

Delhi High Court to again take up Future Retail’s plea on Amazon’s Singapore arbitration

The court of Chief Justice of Delhi High Court will today hear appeals filed by Future Retail and its promoters against a decision by a single judge bench yesterday that refused to issue directions to a Singapore arbitration panel. Yesterday, a Delhi High Court bench comprising Justice Amit Bansal had refused to accept arguments by […]

Reliance Industries ‘categorically denies’ any interest in BT

Reliance Industries said it wants to ‘categorically deny’ any plans to bid for British wired services operator BT. “We categorically deny any intent to bid for the UK telecoms group, BT, formerly British Telecom, as reported in the article titled “Reliance Mulling Bid for UK’s Telco BT Group” published in The Economic Times dated November […]

Reliance Industries’ purchase of polysilicon maker: A mega step to dominate Indian solar market

Reliance Industries has made a strategic acquisition in the form a Norway-based maker of solar-grade polysilicon at a cost $777 million (Rs 5,880 cr) from its Chinese owner. REC Solar Holdings has three manufacturing facilities – two in Norway for making solar grade polysilicon and one in Singapore making PV cells and modules. The 25-year-old […]

Reliance Industries forms trading subsidiary in the UAE

Reliance Industries, India’s most valuable company, has established a subsidiary in the United Arab Emirates. The company said it invested $1 mn to float Reliance International Ltd based in Abu Dhabi Global Market, UAE. The company will engage in trading of crude oil, petroleum products, petrochemicals and agricultural commodities, among others, said the Mukesh Ambani-led […]

Reliance Industries makes 370-cr bet on Li-ion rival

Reliance Industries, India’s largest private sector company, has announced a Rs 370 cr bet on a technology that aims to rival the dominant Li-ion technology for stationary and large-scale applications. The company has invested $50 mn in a US-based startup, Ambri, to in exchange for an unspecified stake in the company. Ambri, which started out […]

Den Networks caps a year of declining sales, profits

Den Networks, a prominent Indian cable feed provider that is now part of the Reliance Industries group, today reported a set of disappointing financial performance numbers, capping a year of pain and degrowth. The company’s subscription revenue, which is overwhelmingly composed of the monthly subscription fees paid by cable TV subscribers, fell to 190 cr […]

RIL takes controlling stake in pod transportation co

In what is probably the company’s most fanciful investment to date, India’s largest private sector company Reliance Industries has taken a controlling stake in a US-based futuristic transportation company. skyTran Inc is developing a technology to transport people using pods that are kept in the air by a magnetic force from below. RIL, which was […]

Reliance Industries says no plans to enter ‘contract farming’

Reliance Industries, India’s largest private company, today rebutted rumors that the company has purchased agricultural lands on a large scale and that it plans to carry out contract farming to take advantage of the new farming laws. The clarification comes in the wake of a online campaign targeting the company, as well as rival Adani […]

Future Retail says no agreement with Amazon

Future Retail, the pioneering modern retail chain founded by Kishore Biyani, today said it will take steps to implement its agreement with Reliance Retail as it is not a party to the agreement quoted by global retailer Amazon to block its merger with Reliance Retail. The agreement is with one of its promoters and group […]

TRAI Tariff Order helps lift Hathway into profit

Hathway Datacom, one of India’s top cable feed providers (MSOs) finally posted a profit after remaining saddled with losses for several years. The company was able to post a profit due to various factors, including a sharp fall in pay channel costs thanks to TRAI’s new tariff order and a reduction in its cable TV […]

No plans to sell news channels: TV18 Broadcast

Rahul Joshi, Managing Director of TV18, today said his company has no plans to sell its news business. “We’ve outrightly denied any such story in news. In news, the group remains absolutely committed to grow the business. “As you’ve seen, we’ve committed so much investments in digital, on television. So there’s no question of getting […]

RIL reorganizes telecom business prior to strategic monetization

Reliance Industries, India’s most valuable company by shareholding, has restructured its telecom investments and holdings to facilitate its “early monetization”. The oil-to-retail giant said it has decided to set up a new company exclusively for holding the digital business of RJIL — devoid of towers and fiber — and plans to sell stakes in this […]

Amazon slowed investment into India due to protectionism – Wilbur Ross

US Secretary of Commerce Wilbur Ross today said that e-commerce giant Amazon, one of the biggest foreign investors in India, had scaled down its plans for investments in this country after the government came up with new, protectionist and restrictive ecommerce rules. In what was seen as a nasty blow to the likes of Walmart […]

LIVE: Mukesh Ambani’s AGM Speech Highlights

The following are the major highlights of the speech made by Mukesh Ambani at Reliance Industries’ annual general meeting 2019. He is expected to announce details of the launch of Jio GigaFiber, the cable and broadband service that has been five years in the making. He is also expected to detail the company’s ambitious e-commerce […]

Watch Live: Mukesh Ambani AGM speech to unveil Reliance GigaFiber plans

Mukesh Ambani, the chairman of Reliance Jio Infocomm and Reliance Industries, is all set to unveil attractive broadband-cum-TV plans under Reliance Gigafiber at the annual general meeting of Reliance Industries at 11 AM. The plans have been a well kept secret, but according to early indications, the company will offer free cable TV and 200 […]

PVR Pictures to distribute Reliance Entertainment’s films

PVR Pictures, the production arm of India’s largest cinema chain,  said it will distribute films from Anil Ambani-promoted Reliance Entertainment. Both companies will collaborate for the first time to distribute Reliance Entertainment’s upcoming film Game Over, releasing on June 14. This will be followed by the Hrithik Roshan starrer Super 30, which will release on […]

Reliance Jio acquires AI start-up for Rs 700 cr

Reliance Industries said it has agreed to acquire 87% of Mumbai-based artificial intelligence company Haptik Infotech for Rs 700 cr, including an initial payment of Rs 230 cr. Reliance Industries said the technology will be used to bring artificial intelligence-based offerings on Reliance Jio, the telecom and digital arm of the group. “This strategic investment […]

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