Mubadala Investment Company (Mubadala), the Abu Dhabi-based sovereign investor, on Thursday announced it will invest 62.48 billion rupees (Dhs3.1 billion) into Reliance Retail Ventures Limited (RRVL),
Indian oil-to-telecoms conglomerate Reliance Industries Ltd said on Saturday Singapore sovereign wealth fund GIC and global private equity firm TPG Capital invested a combined 73.50 billion rupees (about $1 billion) in its retail unit.
Reliance Industries Ltd (RIL) chief Mukesh Ambani is the ninth richest person in the world along with Steve Ballmer of Microsoft and Larry Page of Google, each having a net worth of $67 billion, according to the Hurun Global Rich List 2020.
The persistent concerns of severe impact of the coronavirus epidemic coupled with the recent carnage in the oil markets have erased $5.8 billion from the RIL chief's net worth.
Major players including Facebook, Intel and others have already ploughed some $15 billion into Jio Platforms this year, as Ambani — India's richest man — seeks to take on US giants Amazon and Walmart in India's growing online retail sector.
Backed by multi-billion-dollar investments from global tech giants, India’s richest man is ready to rumble with Amazon and Walmart for the country’s huge e-commerce market through his conglomerate Reliance.
Details of the Top 5 of the richest families in the world have been released for 2020.
Indian tycoon Mukesh Ambani’s $10 billion entry into renewable energy could drive solar tariffs further to the ground and ignite bidding wars with fellow billionaire Gautam Adani, industry analysts say. India’s two richest men are vying
India’s Reliance Industries said that private equity firm General Atlantic would invest Rs36.75 billion ($498.31 million) for a 0.84% stake in its retail arm, while Silver Lake co-investors will also buy a stake.