Reliance Industries: Mukesh Ambani-led Reliance’s latest offers: From Mandarin Oriental Lodge to funding Dunzo

New Delhi: Billionaire Mukesh Ambani’s Reliance Industries (RIL) on Monday mentioned it’s set to amass New York’s premium luxurious resort Mandarin Oriental for $98.15 million. In a press release, RIL mentioned, by its wholly-owned arm Reliance Industrial Investments and Holdings (RIIHL), it is going to pay $98.15 million to amass 73.37% of the resort, as reported by ET.

Listed here are a few of the latest investments and acquisitions made by Reliance Industries and its subsidiaries within the expertise and startup house.

January 2022: Reliance Retail mentioned it led a $240 million funding spherical in accelerated commerce agency Dunzo and now holds a 25.8% stake within the Bengaluru-based startup, marking the oil-to-technology conglomerate’s entry into the ultra-fast commerce house .

Following this deal, Reliance Retail is now the most important shareholder in Dunzo.

July 2021: Reliance Retail acquired 25-year-old search and discovery agency Simply Dial. RIL’s subsidiary Reliance Industries introduced that it’s going to purchase a 67 per cent stake in its retail arm Simply Dial for about $700 million, or Rs 5,222.8 crore.

Simply Dial gives native search and e-commerce companies by its web site, cell app and phone line. Following the deal, Cash will maintain an roughly 11% stake in Simply Dial and can proceed to guide the corporate as Managing Director and CEO.

Discover tales that curiosity you

August 2021In August final 12 months, we reported that MilkBasket, a hyperlocal supply startup, had finalized its sale to Reliance for about $40 million after prolonged discussions and disagreements from shareholders. In July-August 2020, Kalari offered its stake in Milkbasket to MN Televentures, which is operated by Mahendra Nahata, who’s the managing director of Himachal Futuristic Communications. Nahata can be on the board of Reliance Jio Infocomm Ltd. ET had reported in January that Milkbasket’s board had opposed the sale.

Final 12 months, two senior RIL executives joined the board of Milkbasket, whereas the corporate’s co-founder Anant Goel resigned. Nikhil Okay. Chakrapani and Rajendra Kamath grew to become further administrators with impact from 19 July.

ALSO READ: Reliance’s e-commerce sector turns into hyperlocal with Milkbasket deal

July 2020:
Reliance Manufacturers has purchased Ronnie Screwvala’s Unilazer Ventures stake in lingerie vendor Jivame. Folks near the event mentioned on the time that Reliance Manufacturers could have paid as much as $160 million to amass the agency, which is backed by

November 2020: Reliance Retail acquired fairness shares of City Ladder at a money return of Rs 182.12 crore, giving it a 96% stake within the furnishings retailer.

Reliance RetailETtech

City Ladder was inducted in India on 17 February 2012. It’s within the enterprise of working a digital platform for dwelling furnishings and decor merchandise.

August 2020: Reliance Retail acquired a majority fairness stake in Netmeds’ mother or father Vitalik for round Rs 620 crore, giving the Mukesh Ambani-led conglomerate a 60% stake within the Chennai-based firm. is a totally licensed e-pharma portal that gives licensed prescription and over-the-counter (OTC) drugs together with different well being merchandise.

December 2019: RIL mentioned its subsidiary Reliance Strategic Enterprise Ventures Ltd (RSBVL) purchased 85% stake in Nowfloats Applied sciences for a money consideration of Rs 141.63 crore.

Established in Might 2012, NowFloats gives SaaS (Software program as a Answer) options by enabling small and medium enterprises to attain a digital presence. Its options embody an area content material discovery platform, on-line enterprise administration suite, web site promotion and advertising options.

August 2019: RIL had mentioned that its subsidiary Reliance Industrial Investments & Holdings has agreed to take a position Rs 295.25 crore in Mumbai-based Fynd, owned by Shopsense Retail Applied sciences. The overall funding in Discover interprets into an 87.6% stake.

Discover, which was established in September 2012, acts as a bridge between on-line bodily retail shops and consumers.

February 2019: Reliance Industrial Funding and Holdings Restricted (RIIHL), managed by Reliance Industries, purchased a majority stake in Mumbai-based logistics platform Seize a Grub. It had mentioned it could make investments a further Rs 40 crore within the four-year-old firm. Seize is a final mile logistics service for companies and enterprises to handle final mile deliveries. The corporate’s fleet of riders is linked by a expertise platform that permits orders to be taken and delivered throughout the town. Seize is at present working in over 100 cities in India. Its retailers embody eating places, meals tech platforms, pharmacies, e-commerce platforms, groceries and extra.

Keep on high of expertise and startup information that matter. Subscribe to our every day e-newsletter for the newest and must-read tech information, delivered straight to your inbox.

Supply hyperlink