Indian billionaire Mukesh Ambani’s retail business Reliance Retail said on Wednesday it will raise $1.02 billion from Silver Lake, kickstarting a fundraising spree months after its sister venture Jio Platforms raised $20 billion. The investment in Reliance Retail will grant Silver Lake a 1.75% equity stake in India’s largest retail chain. The deal values Reliance […] …Continue Reading

Reliance Retail, India’s largest retail chain, has found a much simpler way to expand its dominant position in the country: Acquire most of the second largest chain’s units. On Saturday evening (local Indian time), Reliance Retail said it has reached an agreement with Future Group to acquire the latter’s retail and wholesaler business, and its […] …Continue Reading

Reliance Retail has bought a 60% stake in pharma marketplace Netmeds’ parent firm Vitalic for about $83.2 million, it said today, as India’s largest retail chain looks to expand into new categories and compete more closely with American e-commerce group Amazon. Reliance Retail said the deal, which grants it a 100% ownership of Vitalic’s subsidiaries […] …Continue Reading