Acquisitions and investments made by Reliance Industries recently

Acquisitions and investments made by Reliance Industries recently

Reliance Retail Ventures acquired a 52 percent equity stake in Ritika Pvt Ltd that owns Ritu Kumar, Label Ritu Kumar, RI Ritu Kumar, aarké, and Ritu Kumar Home and Living. Reliance Retail Ventures bought out private equity firm Everstone Group’s 35 percent stake in the company to complete the deal to acquire the majority share of the company. This acquisition happened in October 2021 as well, along with 7 eleven and the investment in Manish Malhotra’s eponymous brand for a 40 percent minority stake.

Here’s a rundown of all the recent investments and acquisitions made by Reliance Industries in the last several months, from Dunzo to Addverb Technologies. Reliance Retail Ventures (RRVL) signed into a master franchise agreement with 7-Eleven, Inc (SEI) for the introduction of 7-Eleven convenience outlets in India through its wholly-owned subsidiary 7-India Convenience Retail. The first 7-Eleven store opened in Andheri East, Mumbai, on October 9, 2021. RRVL is a subsidiary of Reliance Industries (RIL) and the holding company for the RIL Group’s retail businesses. (Photo courtesy of CNBC TV-18)

In July 2021, Reliance Retail Ventures Limited (RRVL) acquired 1.31 crore equity shares of Rs 10 each of Just Dial at a price of Rs 1,020 per equity share from the company’s CEO VSS Mani on the floor of the stock exchange through the block window facility. It now holds 40.98 percent in Just Dial. Reliance has taken sole control of Just Dial in accordance with the Securities and Exchange Board of India (SEBI) takeover regulations with effect from September 1, 2021.

In January 2022, Reliance Retail acquired a 25.8 percent stake in Bengaluru-based Dunzo, valuing the company at about $800 million. Founded by Kabeer Biswas in 2016, the $240 million shot in the arm by Reliance is more than what Dunzo had raised all these years- about $140 million.

Reliance Industries on January 8 2022 said that it has entered a pact to acquire Mandarin Oriental, a premium luxury hotel in New York, for an equity consideration of around $98.15 million. In a statement to bourses, the conglomerate said that RIL’s arm Reliance Industrial Investments and Holdings Limited (RIIHL), has entered into an agreement to acquire the entire issued share capital of Columbus Centre Corporation (Cayman), a company incorporated in the Cayman Islands and the indirect owner of a 73.37% stake in Mandarin Oriental New York.  The closing of the transaction is anticipated to occur by the end of March 2022 and is subject to certain customary regulatory and other approvals and the satisfaction of certain other conditions.

In January 2022, Reliance Retail acquired a 54 per cent stake in domestic robotics company Addverb for USD 132 million (about Rs 983 crore). With this investment, Reliance Retail became the largest shareholder in the company. In August 2020, Reliance Industries (RIL)  acquired 60 percent stake in online pharmacy Netmeds for Rs 620 crore.

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