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Tag: Mukesh

GIC, TPG invest $1b in Mukesh Ambani’s Reliance Retail

GIC, TPG invest $1b in Mukesh Ambani’s Reliance Retail

Latest
Reliance Industries this day announced that worldwide investment firm GIC will invest ₹ 5,512.5 crore into its retail arm Reliance Retail Ventures Restricted (RRVL) and moreover one other investment firm TPG will invest ₹1,837.5. Reliance Industries said in a regulatory submitting that each and every GIC and TPG investment will translate 1.22% equity stake and a 0.41% equity stake in RRVL respectively on an completely diluted basis. With these, Reliance Industries has bought 7.28% stake in the retail unit since September 9 for a entire of ₹32,297.50 crore. The investment will add fireplace to Ambani’s fight for dominance in the retail market that is moreover being eyed by Jeff Bezos’ Amazon.com and Walmart Inc’s Flipkart. Reliance Industries Restricted (Reliance Industries) and Reliance R...
Mukesh Ambani has been making Rs 90 crore an hour since the lockdown started

Mukesh Ambani has been making Rs 90 crore an hour since the lockdown started

Business
Mukesh Ambani, India's richest man, has been adding Rs 90 crore per hour to his wealth since the March lockdown, per the IIFL Wealth Hurun India Neatly off List 2020 launched on the new time. The fortunes of Ambani, who retained the title of the richest Indian for the 9th year on traipse, rose by Rs 2,77,000 crore to Rs 6,58,000 crore, essentially the most fresh list confirmed. The novel rankings advance a couple of days after US non-public equity firm Silver Lake's Rs 7,500 crore funding in Reliance Retail, an funding that valued the endeavor at a pre-money equity imprint of Rs 4.21 lakh crore. Ambani's most fresh $20 billion fund-elevating spree has already fulfilled his goal of building Reliance Industries assemble-debt-free. This offers the multi-millionaire unrivalled monetary clout ...