wordpress blog stats
Connect with us

Hi, what are you looking for?

Silver Lake invests Rs 7,500 crore in Reliance Retail

American private equity firm Silver Lake will invest ₹7,500 crore in Reliance Retail (US$1.01 billion), the latter said on Wednesday. This is Silver Lake’s second big investment into Reliance, after its US$1.35 billion (₹10,202.55 crore) investment into Jio Platforms. This also comes barely one day after Silver Lake also invested in the ed-tech company Byju’s. With this investment, Reliance Retail may begin its own marathon run of investments over the coming days, like Jio Platforms — just this first investment alone exceeds the value of Reliance Retail’s ₹5,448 crore net profit in FY2019-20.

Investment follows Future retail biz acquisition

This investment comes shortly after Reliance Retail’s announcement that it was acquiring the Future Group’s retail, wholesale, logistics and warehousing businesses for Rs 24,713 crore. Reliance Retail is now setting its sights on kirana stores and home delivery, efforts that it says Silver Lake’s investment will bolster. “Reliance Retail, through its New Commerce strategy, has started a transformational digitalization [sic] of small and unorganised merchants and is committed to expanding the network to over 20 million of these merchants, helping them benefit from the use of technology tools and efficient supply chain infrastructure,” the company said in its press release announcing the investment.

JioMart

On the latter front, Reliance is beta testing JioMart, which is working with the conglomerate’s own retail presence as well as with partnered kirana stores for delivery. Reliance likely wants to saturate its physical commerce streams and become a sizable player in the e-commerce stream, both of which will be gargantuan undertakings if they are to succeed in both tier-1 cities and small towns.

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.

Views

News

The DSCI's guidelines are patient-centric and act as a data privacy roadmap for healthcare service providers.

News

In this excerpt from the book, the authors focus on personal data and autocracies. One in particular – Russia.  Autocracies always prioritize information control...

News

By Jai Vipra, Senior Resident Fellow at Vidhi Centre for Legal Policy The use of new technology, including facial recognition technology (FRT) by police...

News

By Stella Joseph, Prakhil Mishra, and Yash Desai The Government of India circulated proposed amendments to the Consumer Protection (E-Commerce) Rules, 2020 (“E-Commerce Rules”) which...

News

By Rahul Rai and Shruti Aji Murali A little less than a year since their release, the Consumer Protection (E-commerce) Rules, 2020 is being amended....

You May Also Like

News

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...

News

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...

Advert

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...

News

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...

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
Name:*
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