wordpress blog stats
Connect with us

Hi, what are you looking for?

Saudi sovereign fund PIF to invest ₹9,555 crore in Reliance Retail

Reliance Industries announced on Thursday that the Public Investment Fund (PIF) of Saudi Arabia will invest ₹ 9,555 crore (approximately $1.3 billion) for an equity stake of 2.04% into Reliance Retail Ventures (RRVL). With this investment RRVL is valued at ₹4.587 lakh crore (~US$62.4 billion). The investment in RRVL follows PIF’s earlier acquisition of a 2.32% stake in Jio Platforms for ₹11,367 crore. Other global funds like General Atlantic, Silver Lake, TPG Capital, Mubadala, the Abu Dhabi Investment Authority and GIC have also had made investments in RRVL earlier.

Reliance has effectively replicated the spree of investments enjoyed by Jio Platforms, which is the controlling entity for the telecom operator, in the past. JioMart, despite its branding, is owned by RRVL, and the company plans to balloon it into a serious competitor in the Indian e-commerce space. JioMart has currently started with grocery deliveries from kirana stores and from Reliance’s own retail supply network in a couple hundred towns and cities. It is currently in its beta phase.

Aiming at retail dominance, Reliance recently announced that it would acquire the Future Group’s retail businesses like Big Bazaar, but that deal seems to be threatened by litigation from Amazon, which argues that they were entitled to a right of first refusal. The Future Group said it would not comply with an emergency stay on that deal obtained from an arbitration panel in Singapore, and will challenge any attempts to enforce it.

Also read

Advertisement. Scroll to continue reading.
Written By

I cover the digital content ecosystem and telecom for MediaNama.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.



Looking at the definition of health data, it is difficult to verify whether health IDs are covered by the Bill.


The accession to the Convention brings many advantages, but it could complicate the Brazilian stance at the BRICS and UN levels.


In light of the state's emerging digital healthcare apparatus, how does Clause 12 alter the consent and purpose limitation model?


The collective implication of leaving out ‘proportionality’ from Clause 12 is to provide very wide discretionary powers to the state.


The latest draft is also problematic for companies or service providers that have nothing to with children's data.

You May Also Like


Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...


135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...


Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...


By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Your email address:*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ