Reliance Industries

Reliance Retail to acquire controlling stake in Just Dial for Rs 3,497 cr

Reliance Retail to acquire controlling stake in Just Dial for Rs 3,497 cr

Reliance Retail Ventures Limited (RRVL), Just Dial and VSS Mani and others on Friday executed definitive agreements which will entail preferential allotment of 2.12 crore equity shares, equivalent to 25.33 per cent post preferential share capital, at a price of Rs 1,022.25 per share. Post the agreements, RIL will acquire 1.31 crore equity shares by RRVL from VSS Mani (equivalent to 15.62 per cent post preferential share capital) at a price per share of Rs 1,020. RRVL will hold 40.95 per cent and would make an open offer to acquire up to 26 per cent stake in accordance with takeover…
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Reliance Industries invests into 10,000 equity shares of RNESL

Reliance Industries invests into 10,000 equity shares of RNESL

Reliance Industries Ltd said on Monday that it has invested Rs 1 lakh in cash in 10,000 equity shares of its newly incorporated subsidiary Reliance New Energy Solar Ltd (RNESL). RIL noted that RNESL is yet to commence its business operations. RNESL has been incorporated to undertake activities relating to solar energy, the company said in a regulatory filing. “It is hereby informed that the company has invested Rs 1,00,000 in cash in 10,000 equity shares of Rs 10 each of ‘Reliance New Energy Solar Ltd’ (RNESL), a newly incorporated wholly-owned subsidiary,” it said. The filing added that the investment…
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Mukesh Ambani becomes richest person in Asia: Forbes

Mukesh Ambani becomes richest person in Asia: Forbes

India has the third highest number of billionaires in the world after the US and China, according to a new list by the prestigious Forbes magazine, which said Reliance Industries Chairman Mukesh Ambani reclaimed his spot as Asia's richest person, dethroning Chinese business tycoon Jack Ma who was the richest person in the region a year ago. Forbes' 35th annual list of the world's billionaires is topped by Amazon CEO and Founder Jeff Bezos for the fourth year in a row. Ambani, the richest person in India and also the wealthiest in Asia, is ranked 10 on the global billionaires'…
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