×
127
Fashion Jobs
ALFA SOLUTIONS
Production Manager
Permanent · Chennai
ALFA SOLUTIONS
Production Manager, Senior Production Manager, Production Head
Permanent · Chennai
TERRAIN INFRATECH
Factory Manager || Production Manager || Bilaspur || Binola |
Permanent · Gurugram
CORPORATE RESOURCES
Merchandising Manager (Knitted Garments)
Permanent · Tiruppur
BELIEVERS GROUP
Production Manager- Government Banking
Permanent · Mumbai
KARAMTARA ENGINEERING PVT. LTD.
dy. Manager / Manager - Production @ Tarapur
Permanent · Tarapur
RELIANCE INDUSTRIES LTD
Sales Officer - Reliance Ajio Business B2B
Permanent · Hyderabad
THE GLOBAL ZONE HR SERVICES
Production Manager (Mechanical Engineer)
Permanent · Gurugram
VOLTECH HR SERVICES PVT LTD
Production Manager - Concrete Batching Plant
Permanent · Chennai
LARSEN & TOUBRO LIMITED
Production Manager, Senior Production Manager, Production Head
Permanent · Chennai
LARSEN & TOUBRO LIMITED
Production Manager
Permanent · Nagpur
LARSEN & TOUBRO LIMITED
HR Manager/ Recruitment Manager
Permanent · Chennai
LARSEN & TOUBRO LIMITED
Production Manager
Permanent · Chennai
EXPLODE SERVICES
Female Business Development Manger - Garment Export
Permanent · Noida
MUMBAI ROZGAAR PRIVATE LIMITED
Hiring Field Sales Executive For Garment Industry-Andheri East
Permanent · Mumbai
ACE MANAGEMENT SERVICES
Sales Executives Reqd For Textile Garment Industry i Dakshin Kanada
Permanent · Mangalore
CARAT LANE TRADING PVT LTD
Production Manager & Quality Analyst, Shaya by Caratlane
Permanent · Jaipur
OUTHOUSE JEWELLERY
e- Commerce Merchandiser & Sales Executive
Permanent · MUMBAI
XPERTZ INNOVATIONS PRIVATE LIMITED
Sales Manager Retail Store - Calicut (Apparels Industry)
Permanent · Kozhikode
PARVATI FABRICS LIMITED
Merchandiser
Permanent · SURAT
PARVATI FABRICS LIMITED
PR Manager
Permanent · SURAT
NETE.IN
Order Fulfilment & CRM
Permanent · MUMBAI
By
Reuters
Published
Nov 19, 2020
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Reliance says retail venture completes fundraising, rakes in $6.4 billion

By
Reuters
Published
Nov 19, 2020

India’s Reliance Industries Ltd on Thursday said its retail arm had completed its fundraising exercise as more than half a dozen investors poured 472.65 billion rupees ($6.37 billion) into a 10.09% stake in the company in two months.


Reliance says retail venture completes fundraising, rakes in $6.4 billion


Reliance Retail Ventures Ltd (RRVL) began raising capital in September, with U.S.-based private equity firm Silver Lake Partners pumping 75 billion rupees for 1.6% of the venture.

The eight other investors in RRVL include Saudi Arabia’s Public Investment Fund, private equity firm KKR & Co Inc, Abu Dhabi state fund Mubadala Investment Co and Abu Dhabi Investment Authority.

The funds will help Reliance, India’s biggest retailer with roughly 12,000 stores, to aggressively expand its so-called new commerce venture, which ties neighbourhood stores to Reliance for online deliveries of groceries, apparel and electronics in a space currently dominated by Walmart Inc’ s Flipkart and Amazon.com Inc’s Indian arm.

“With our focus on New Commerce, we are committed to playing a transformational role in the Indian retail sector by empowering millions of merchants and micro, small and medium enterprises,” RRVL director Isha Mukesh Ambani said in a statement.

Isha is the daughter of Asia’s richest man and Reliance’s chairman, Mukesh Ambani.

Mumbai-headquartered Reliance in August announced it would buy retail, logistics and other assets from Future Group for $3.4 billion including debt.

Amazon has challenged that deal, alleging Future breached certain contract provisions it entered into last year in a separate deal with the U.S. e-commerce giant.

Reliance, an oil-to-retail conglomerate, earlier this year raised just over $20 billion from global investors, including Facebook Inc, by selling stakes in its Jio Platforms digital business.

Telecoms venture Jio, the mainstay of Jio Platforms, is India’s biggest telecoms company with more than 402 million subscribers at end-August.

© Thomson Reuters 2020 All rights reserved.