Heena Sharma Blog

Facebook on Wednesday announced investment of Rs 43,574 crore to pick a 9.9 per cent stake in Reliance Industries Limited's wholly-owned subsidiary, Jio Platforms, in what is being touted as the largest foreign direct investment for minority stake in India. The company said, "Today we are announcing a $5.7 billion, or INR 43,574 crore, investment in Jio Platforms Limited, part of Reliance Industries Limited, making Facebook its largest minority shareholder." “Reliance Industries Limited, Jio Platforms Limited and and Facebook today announced the signing of binding agreements for an investment of Rs 43,574 crore by Facebook into Jio Platforms,” Reliance Industries said in its statement. Read More

Well, the website of JioMart with the tagline " India ki nayi dukaan " is a a new grocery shopping experience from Reliance Industries Limited, the country's most valued firm. This in turn is expected to take on online grocery specialists- Bigbasket and Grofers, as well as global e-commerce giants Amazon and Walmart. The JioMart app can be soon soon downloaded on apple and android platforms. Currently web services of JioMart are available in the outskirts of Mumbai, in suburbs such as Navi Mumbai, Thane and Kalyan. And this will be scaled up nationally soon. The app will not only connect consumers, but also enable kiranas to order at wholesale rates from Reliance’s cash-and-carry stores, Reliance Market, to refill their stocks. At present, the web portal is offering pre- registration discounts of Rs 3000, claims to have 50,000 plus grocery products with free home delivery and no minimum order value, no-questions-asked return policy and an express delivery p

A stock swap offer to help shareholders of billionaire Mukesh Ambani ’s unlisted retail business monetize their investment has valued the unit at $34 billion. Share owners in Reliance Retail Ltd . can exchange four shares for one of its listed parent Reliance Industries Ltd., according to a so-called scheme of arrangement posted on the group’s website. With the parent’s latest market capitalization at 9.8 trillion rupees ($137 billion), the share swap values the subsidiary at 2.4 trillion rupees, according to Bloomberg’s calculation. Asia’s richest man is scouting for investors for the profitable retail unit. The share swap, which will help Reliance Retail employees monetize their illiquid stock options, values the company at more than Tesco Plc, the U.K.’s biggest supermarket chain. Ambani has promised to slash the group’s net debt zero to zero by March 2021 after an investment spree of $76 billion in the past five years, bulk of it on its massively disruptive telecom carrie