Silver Lake to invest Rs 5,655.75 crore in Jio Platforms, says Reliance Industries

Reliance Industries Limited on Monday announced that private equity firm Silver Lake will invest Rs 5,655.75 crore in its digital arm, giving it a valuation of Rs 4.90 lakh crore.

The fresh deal came days after Facebook announced an investment of Rs 43,574 crore to buy a 9.99 per cent stake in Jio Platforms, which is the digital services entity.

“Reliance Industries Limited (“Reliance Industries”) and Jio Platforms Limited (“Jio Platforms”) announced today that Silver Lake will invest Rs 5,655.75 crore into Jio Platforms. This investment values Jio Platforms at an equity value of Rs 4.90 lakh crore and an enterprise value of Rs 5.15 lakh crore and represents a 12.5% premium to the equity valuation of the Facebook investment announced on April 22, 2020,” the statement said.

Mukesh Ambani, Chairman and Managing Director, Reliance Industries Ltd, said, “I am delighted to welcome Silver Lake as a valued partner in continuing to grow and transform the Indian digital ecosystem for the benefit of all Indians.”

“Silver Lake has an outstanding record of being a valuable partner for leading technology companies globally. Silver Lake is one of the most respected voices in technology and finance. We are excited to leverage insights from their global technology relationships for the Indian Digital Society’s transformation,” Ambani added.

Commenting on the investment, Egon Durban, Silver Lake Co-CEO and Managing Partner, said, “Jio Platforms is one of the world’s most remarkable companies, led by an incredibly strong and entrepreneurial management team who are driving and actualizing a courageous vision….. The market potential they are addressing is enormous, and we are honored and pleased to have been invited to partner with Mukesh Ambani and the team at Reliance and Jio to help further the Jio mission.”

Reliance Jio Infocomm Limited, which provides connectivity platform to over 388 million subscribers, will continue to be a whollyowned subsidiary of Jio Platforms.

“In the wake of the severe economic disruptions caused by the COVID-19 pandemic, globally and especially within India, this partnership with one of the most renowned tech-investors globally, Silver Lake, has special significance. Comprehensive digitisation will be a vital component of the revitalisation of the Indian economy,” the statement said Source:  http://tehelka.com

Read More........ → June 28, 2020

Russia-Reliance Group pact for 197 defence choppers

New Delhi: A defence arm of the Anil Ambani-led Reliance Group has been picked for another project by the Russian government -- this time for a Rs.6,000-crore ($925 million) potential deal to make 197 helicopters for the Indian Army and the Indian Air Force, informed sources said on Friday. Touted as among the largest deals under the "Make in India" programme, it calls for making 197 Kamov 226T choppers to retire the Chetak-Cheetah fleet that has been key inventory in frontline operations for over 30 years, notably in difficult terrain like Siachen, the sources added. "We are committed to actively participating in Prime Minister Modi's 'Make in India' and 'Skill India' program," the spokesperson for Reliance Defence said when asked for the company's comment on the deal, which involves manufacture of these light utility helicopters in the country. "The manufacture of both military and civil helicopters to meet the needs of the country are a significant part of this commitment," the spokesperson added. It is reliably learnt that the project is to be executed under a new joint venture, for which the chosen Indian partner is a newly set-up chopper arm of Reliance Defence -- which, in turn, is a subsidiary of Reliance Infrastructure. The process is on to acquire an industrial licence.Russian President Vladimir Putin had pushed for the Ka-226T during the summit with Prime Minister Narendra Modi here last December. Upon agreeing to be make these choppers in India, Russia was offered an initial deal for 200 of these helicopters with the potential for another 400. In May, the Defence Acquisition Council chaired by Defence Minister Manohar Parrikar cleared the proposal.Now, after extensive talks, the Russian government has communicated to New Delhi that it will be implementing the project in a joint venture with an Indian company -- and that the partner so chosen is Reliance Helicopters. It also involves transfer of technology, sources said. Earlier this month, Pipavav Defence, a part of the Reliance Group, was selected by Zvyozdochka Shipyard of Russia for the refit of 24 EKM 877 submarines in India, in a deal potentially worth worth Rs.30,000 crore.The company, the controlling stake of which was acquired by the Reliance Group earlier this year, was also selected by United Shipbuilding Company of Russia for the manufacture of four Talwar-class frigates, according to sources. The company is also said to be a strong contender to build six advanced submarines for the navy, along with five other firms, for which the Indian government is expected to float a request for proposal soon. This deal is potentially worth Rs.60,000 crore. Source: http://www.bharatdefencekavach.com, Image: https://upload.wikimedia.org

Read More........ → September 10, 2015

Nita Ambani unveils Hero Indian Super League trophy

Hero Indian Super League unveils the Pride of Indian Football in Mumbai Today. Mrs Nita Ambani said that its momentous day for all of us.

Mrs Nita Ambani, founder & chairperson of Football Sports Development today unveiled the pride of Hero Indian Super League, the glittering Trophy here amidst glitz and glamour. Joining her at the momentous occasion were world footballing legends and icon players of eight Hero Indian Super League clubs -Fredrik Ljungberg (Mumbai City FC), Alessandro Del Piero (Delhi Dynamos FC), Joan Capdevila (NorthEast United FC), David Trezeguet (FC Pune City), RobertPirès (FC Goa), Mikaël Silvestre (Chennaiyin FC), Luis Garcia (Atlético de Kolkata) and David James (Kerala Blasters FC), coming together for the first time on one stage in India, and probably the world. The meticulously detailed and chiselled to perfection, Hero Indian Super League trophy is a labour of love, a celebratory symbol of grand triumph which will add crowning glory to the spectacle of Indian Football. Speaking on the occasion, Mrs Nita Ambani said, “It’s a momentous day for all of us today as I stand along with the world’s footballing legends to unveil the pride of Indian Super League. As these role models have inspired hundreds of thousands of players worldwide, I am sure the ISL trophy will also stand as a symbol of aspiration for many youngsters in an emergent India. “The Indian Super League trophy is detailed to perfection by Indian artisans who were trained in London, thus exemplifying the genius of Indian artistry and world-class craftsmanship. Its ‘made in India’ design embodies our love and passion for this beautiful game and it equally represents our ‘made for world’ aspirations.” Mr. Sanjay Gupta, COO, Star India, further added, “The Hero Indian Super League is a marquee football tournament wherein accomplished footballers, who have excelled on the international stage along with best-of-the-best of Indian football, will get to compete for the ultimate honour and it is only befitting that they compete for one of the most exquisite trophies ever crafted. With Hero Indian Super League well placed to fuel the birth of a footballing nation, I am confident that this will become one of the most coveted trophies in Indian football in the years ahead.” Designed by Frazer And Haws, the Hero Indian Super League trophy stands 26 inches tall. The logo on the top band has the ISL colours assigned to it and the handles are ornately carved and embellished with 24k gold gilt to imbue a sense of pride when held up. Source: Article

Read More........ → October 06, 2014

Narendra Modi sworn in as 15th Prime Minister of India

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New Delhi: Marking the beginning of a new era in Indian politics, Narendra Modi on Monday was sworn in Prime Minister at the head of a 45-member coalition government after the elections threw the first government with absolute majority in 30 years. 63-year-old Modi, the first leader to get a landslide majority for BJP on its own, became the 15th prime minister in a virtual 'coronation' ceremony in the forecourt of the Rashtrapati Bhawan before a 3000-strong gathering, the largest audience at the swearing in a of new government. Rajnath Singh, Sushma Swaraj, Arun Jaitley, M Venkaiah Naidu, Nitin Gadkari, Uma Bharti, Maneka Gandhi, Ananth Kumar, Ravi Shankar Prasad, Smriti Irani and Harsh Vardhan were among those who were sworn in as Cabinet ministers. Ram Vilas Paswan (LJP), Harsimrat Kaur Badal (Akali Dal), Anant Geete (Shiv Sena) and Ashok Gajapathi Raju (TDP) were those from allied parties who took the oath on Monday. Dignitaries from politics, industry, cinema and religion, capped by leaders of SAARC nations including Pakistan Prime Minister Nawaz Sharif, watched Modi take the oath of office and secrecy in Hindi. Vice President Hamid Ansari, outgoing Prime Minister Manmohan Singh, his ministerial colleagues P Chidambaram, Sharad Pawar, Praful Patel and Pallam Raju, Congress President Sonia Gandhi, Rahul Gandhi, senior BJP leaders L K Advani, Murli Manohar Joshi, outgoing Speaker Meira Kumar, former Presidents Abdul Kalam, Pratibha Patil were among those who attended the ceremony. Differences during elections melted away before protocol as opponents including Mulayam Singh Yadav, his son and UP Chief Minister Akhilesh Yadav, J and K Chief Minister Omar Abdullah, Bihar Chief Minister Jitan Ram Manjhi, Assam Chief Minister Tarun Gogoi and Haryana Chief Minister Bhupinder Singh Hooda were present at the ceremony. Top industry figures like Mukesh Ambani and his family, his brother Anil, Kumarmangalam Birla, Sashi Ruia, Gautam Adani and V N Dhoot, film stars Salman Khan along with his father Salim Khan, Vivek Oberoi, Dharmendra and Anupam Kher, lyricist Javed Akthar were present along with a clutch saffron-robed seers including Pejawar Mutt chief Vishwendra Teertha Swamy. Cricketing great Sunil Gavaskar was also present. Sri Lankan President Mahinda Rajapakse, whose effigy was burnt some kms away in the morning, Afghan President Hamid Karzai and Mauritius President Naveen Chandra Ramgoolam were the other foreign dignitaries present at the ceremony. At the end of the 90-minute swearing-in ceremony, Modi shook hands with all the heads of governments from abroad after the President took a group photograph with the new council of ministers. Modi also exchanged greetings with the outgoing PM. Shortly later, it was all disorder as the gathered crowd sought to greet the new PM that led to pushing around. The other BJP MPs, who were sworn in as cabinet ministers were Gopinath Munde, Sadanand Gowda, Kalraj Mishra, Najma Heptullah, the lone Muslim face, Narendra Singh Tomar, Jual Oram, Radha Mohan Singh and Thawar Chand Ghelot. Former Army chief Gen V K Singh was inducted into the council of ministers as Minister of State with independent charge along with nine others. They are Rao Inderjit Singh, Santosh Kumar Gangwar, Shripad Naik, Dharmendra Pradhan, Sarbananda Sonowal, Prakash Javadekar, Piyush Goel, Jitender Singh and Nirmala Seetharaman. 12 other ministers of state were inducted. They are G M Siddeshwara, Manoj Sinha, Nihal Chand, Upendra Khushwaha, Pon Radhakrishnan, Kiren Rijiju, Krishen Pal, Sanjiv Kumar Baliyan, Mansukhbhai Vasava, Rao Saheb Danve, Vishnudev Sai and Sudarshan Bhagat. Source: Article, Image: fickr.com

Read More........ → May 27, 2014

India’s Reliance puts extra $200m into Dreamworks

Advanced Television: Indian telco and broadcasting giant Reliance is promising another US$200 million in Steven Spielberg’s DreamWorks studio. Reliance invested $325 million back in 2009. The cash helped finance movies such as War Horse andThe Help, both of which were critically well received, but failed to dominate the box office. The new cash injection permits DreamWorks to maintain an output slate of around three to five modestly-sized movies a year, but the investment could grow if DreamWorks responded with at least one larger visual-effects rich film. There is one such movie in the pipeline, Spielberg’s Robopocalypse, a typical ‘popcorn’ movie and one that Reliance is said to want to see more of. Robopocalypse is co-financed by News Corp’s 20th Century Fox. Source: Advanced Television

Read More........ → March 20, 2014

IPL styled Football league to kick off in India

New Delhi: If all goes well then Indian football fans would be much delighted as an IPL-styled football league is being planned that Indian would host. According to Economic Times, media mogul Rupert Murdoch and richest Indian industrialist Mukesh Ambani have joined hands to kick off an Indian Premier League like football league in India. India might be a cricket-crazy nation, but there are millions of football fans too. Murdoch’s Star India has picked up a one-third stake in a company that is jointly owned by Ambani’s Reliance Industries and IMG. The company is set to promote football in India through the league that is about to start in January next year, reported the Economic Times. Although it was the Premier Hockey League in 2005 that marked the inception of sports leagues in India, the format was popularized by cricket’s Indian Premier League or IPL. Recently Indian Badminton League’s first season concluded. But for the first time a major broadcaster has shown interest in this manner in a sports league in India and Star is apparently going to pay a whopping 2,000 crore in a deal that would include both equity and broadcasting rights for 10 years. Mukesh Ambani's wife and IMG-Reliance's chairperson Nita Ambani has said that the launch of such a league would let the Indian population enjoy and cherish the 'most loved game' across the globe. Source: News Bullet, Image

Read More........ → October 30, 2013

RIL reports significant gas find in KG-D6 block

Days after the oil sector regulator recommended taking back of three RIL gas finds for failure to conduct separate tests for their commercial viability, Reliance Industries Limited (RIL) and its partners BP and NIKO today announced a significant gas and condensate discovery in the KG-D6 block off the eastern coast of India. The discovery, named 'D-55', which is close to a producing reservoir D1-D3, has been notified to the government and the management committee of the block, RIL said, adding that this discovery is expected to add to the hydrocarbon resources in the KG-D6 block. The Directorate General of Hydrocarbons (DGH) had denied recognition to RIL's D-29, D-30 and D-31 finds in the KG-D6 block since February 2010 as commercial discoveries since RIL did not conduct separate tests as prescribed in the production sharing contract for confirming the gas finds. RIL said the new well, KGD6-MJ1, was drilled in a water depth of 1,024 metres - and to a total depth of 4,509 metres - to explore the ''Mesozoic Synrift Clastic'' reservoir lying over 2,000 metres below the already producing D1-D3 gas finds. Initial evaluation indicated gross gas and condensate column in the well of about 155 metres in the Mesozoic reservoirs, RIL said. ''In the drill stem test, the well flowed 30.6 million standard cubic feet per day (mm scf/d) and liquid rate of 2,121 barrels a day with a choke of 36/64" with a flowing bottom hole pressure of 8,461 psia suggesting good flow potential.'' However, RIL said, well flow rates during such tests are limited by the rig and well test equipment configuration and that it would now begin fresh appraisal to better define the scale and quality of the field. ''This is a successful outcome of the combined exploration efforts of the joint venture partners with the active support of the GoI. We shall embark on the appraisal programme in the next few months in order to evaluate the options for developing this discovery,'' PMS Prasad, executive director, Reliance Industries Limited, stated. ''The discovery demonstrates the effective technical co-operation between the partners, allowing us to make a new and significant discovery within KG-D6. It follows an 18 month drilling time-out and detailed geoscience work that has re-focused our India exploration programme and delivered this early success,'' Mike Daly, executive vice president, exploration at BP, commented. ''We congratulate our partners and the Government of India as co-operation in an event like this shows what good can be created for the energy sector and most importantly, for the people of India,'' Edward Sampson, chairman, president and CEO of Niko Resources Ltd, stated. Source: Domain-B

Read More........ → May 24, 2013

Steven Spielberg in a conversation with Amitabh Bachchan

Amitabh Bachchan met celebrated Hollywood filmmaker Steven Spielberg, yesterday, who is here to celebrate the success of his Oscar-winning film Lincoln which is co-produced by his production house DreamWorks and Anil Ambani's . Big B shared a few pictures from this meeting on Twitter and his blog. "A scintillating evening with Mr Steven Spielberg .. films relations scripts trends future .. and more !!," he posted on the micro-blogging site. Taking to his blog, Bachchan wrote, "An evening with an institution .. an evening spent in conversation in the presence of select fraternity and press .. an evening of sharing cinema with prolific maker, inventer, story teller, innovator and one who continues to surprise us with his genius ..

An honest evening - simple and filled with candor !" "Present too, the best in-house fraternity of the time .. a rare presence, but one that lent the evening a feeling of ‘family and brotherhood’," he further added. Also present at the event were Bollywood bigwigs like Abbas-Mustan, Ashutosh Gowariker, Kiran Rao, Javed Akhtar, Sudhir Mishra, Zoya Akhtar, Rajkumar Hirani, Ramesh Sippy, Rakeysh Omprakash Mehra, Anurag Kashyap, R. Balki, Gauri Shinde, Prabhu Deva among others. Source: Page3

Read More........ → March 14, 2013

I'm bullish, billion aspirations drive India: Mukesh Ambani

Despite concerns about slowing economy, the nation's wealthiest man, Mukesh Ambani, is bullish on the India Story - and hinges his bet on the millions striving to move up in the economic pyramid. "India has had some slow growth but I am really very optimistic on India," said Ambani told CNN's Fareed Zakaria. "I'm very bullish on India, because it's really the aspirations of a billion people. And ours is a country where all the billion count. And they have aspirations. "India is really a bottom-up story. It's not a top-down story," the chairman of Reliance Industries Ltd (RIL) told his celebrated interviewer, who, like him, has his roots in Mumbai. Asia's second wealthiest man, Ambani, whose net worth is close to $21 billion according to Forbes magazine, cited that his confidence in the Indian growth story stemmed from the country's billion consumers moving to make their lives better. Ambani, whose business spans petrochemicals, oil and gas, telecom and how retail, also spoke about India as a land of opportunities. He talked about his late father Dhirubhai Ambani started Reliance with $100 and then when he joined the firm in the 80s, the market value of the company was $30-40 million. "In 30 years, the opportunities that were provided by this country have enabled us to create wealth for India. So, we've created a million millionaires just by investing in Reliance out of ordinary Indians. And that is the process of creating wealth for the country. Once you create opportunity, wealth comes," he said. Ambani is also bullish on the global economic health, especially the United States. "Well, I'm more optimistic than most. And my view is that this year we will see the beginning of a recovery, particularly in the US," he said. RIL, which has business interests and investments tied up in the US market, has reportedly put in at least $5.2 billion through joint ventures with Chevron, Carrizo Oil and Gas, Pioneer Natural Resources so far. Image Link Flickr, Source: Hindustan Times

Read More........ → March 03, 2013

RIL profit jumps 24% on better-than-expected refining margin

Reliance Industries, on Friday reported 24% jump in the third quarter net profit, the first increase after four quarters of declining returns, on the back of record earnings from oil refining business. Net profit in October-December at Rs. 5,502 crore was 23.9% higher over Rs. 4,440 crore in the same period a year ago, RIL said in a statement. The better-than-estimated quarterly profit came on the back of rise in earnings from turning crude oil into petrol, diesel and other petroleum products. RIL, which had previously sought to widen beyond its core energy business through forays into consumer-focused sectors such as telecom, retail and financial services, seems to be shifting focus back to where it started its energy business – oil refining. The shift in focus is after output from its flagship natural gas field in the Krishna Godavari basin continues to wane and government approvals for developing newer and smaller fields are slow to come. RIL, which operates the world's biggest refining complex at Jamnagar in Gujarat, earned $9.6 on turning every barrel of crude oil into fuel in the quarter, compared to $6.8 per barrel gross refining margin in the same period a year ago. Sales were up over 10% to Rs. 96,307 crore. Debt soared to Rs. 72,266 crore at the end of Q3, up from Rs. 68,259 crore at the beginning of the fiscal. At quarter end, it had a cash pile of Rs. 80,962 crore, making the company debt free on a net basis. "RIL's performance has improved in this quarter with margin expansion in petrochemicals and record earnings in the refining business," company chairman and managing director Mukesh Ambani said. Before the announcement of the earnings, RIL shares rose to a 15-month high to close at Rs. 898.95 on BSE on Friday. This is the highest close for RIL shares since October 28, 2011. RIL shares have increased 7.2% this year, adding to last year's 21% surge, the most since 2009.  Source: Hindustan Times

Read More........ → January 19, 2013

13 Indian firms in Newsweek's global green; Wipro no.2

Thirteen Indian companies figure among Newsweek's annual rankings of the world's greenest companies, with information technology giants Wipro and Tata Consultancy Services taking the second and 11th spots. The US news magazine's fourth annual Green Rankings noted that while companies around the planet in emerging and developing economies are going green, the US is falling behind globally. IBM, which ranks No.1 on the magazine's US list, was the only American company to break into the global top 10, which was led by Banco Santander Brasil. In picking up the most environmentally-friendly companies, the magazine said it partnered with Trucost and Sustainalytics, two leading research companies, to compare the world's largest 500 companies according to their environmental footprint, management (policies, initiatives, controversies) and transparency. Wipro, placed second with a Green Score of 85.4, plans to convert five of its campuses into "biodiversity zones" by 2015, and its flagship data centre in North Carolina was just awarded an LEED Gold certification, Newsweek noted. The sustainability practices of TCS, ranked 11th with a Green Score of 80.4, "have focused largely on agricultural and community needs of the region." "Sixteen of its facilities do composting, some have bio-digesters turning waste into kitchen fuel and a programme called mKRISHI has enabled some 20,000 farmers in 400 Indian villages to get access to important information about climate, pesticides and fertiliser use," Newsweek noted. Rankings of Indian companies with their global rank in brackets: Wipro (2), Tata Consultancy Services (11), Infosys (19), Larsen & Toubro (96), Tata Motors (282), Reliance Industries (342), State Bank of India (344), HDFC Bank (346), ONGC (386), Tata Steel (419), ICICI Bank (476), NTPC (497) and Coal India (499). Source: Hindustan Times

Read More........ → October 30, 2012

Reliance insurance introduces Life Plaza

Mumbai: Reliance Life Insurance Company (RLIC) today introduced a distribution channel - Life Plaza - aimed at creating awareness about life insurance and said it plans to set up about 200 branches across the country by the end of the current financial year. "The main objective of our new distribution format is to generate greater awareness about life insurance in and around different locations where these Life Plazas will operate and create a pull for life insurance products," Malay Ghosh, President and Executive Director, Reliance Life Insurance, said. RLIC targets to hire about 1,000 people under this new distribution format within this fiscal and would focus on Tier II, Tier III and Tier IV cities for recruitment and setting up of Life Plazas, he said. Reliance Life Plaza would promote need-based sales, fill service gaps and also offer financial and value-added services such as tax and financial planning, Aadhar card registration, pan card generation, health check-ups and nutrition counselling. All Life Plazas will be managed by RLIC employees, who will handle customers' queries and process the documentation instantly at the venue, with a view to tap new customers and also provide service to existing RLIC policyholders, the company said. Apart from addressing walk-in customers, the company will also proactively invite customers to the Life Plaza for presentations on the benefits of investment in various financial products, importance of insurance as life protection tool and RLIC's wide- range of products and services, it said. "We believe this unique distribution model will help us reach out to customers, understand their needs and provide solutions to them at the venue. The process of selling will ensure that the customer buys only what he or she needs and understands and thus also address the problem of mis-selling," Ghosh said. He further added that, "We are confident that Life Plaza will help us build a healthy relationship with the customers and expand and strengthen the existing distribution channels in order to increase our reach". "We hope to replicate the success that this model enjoys in Japan," he said. RLIC is the first company in the country to set up a structured need-based in-branch sales platform in the form of a Life Plaza, the company said. Source: Financial Express

Read More........ → October 24, 2012

Global brands relook India JV partnerships

Global brands are betting big on India, this despite no clarity on FDI in multibrand retail. In fact, statistics
from Department of Industrial Policy and Promotion (DIPP) the nodal agency that clears such foreign investments reveal that a number of top brands have put forth their proposals of either increasing stake in JV or expanding their presence in India. American apparel-maker Tommy Hilfiger is one of them. The brand plans to open 500 stores in India over the next five years to capitalize on the brand’s increasing popularity in the country. It has informed the Department of Industrial Policy and Promotion (DIPP) that it is looking at increasing the footprint in India.In a separate DIPP application, French fashion brand Promod SAS has also filed for a 51 per cent stake in a joint venture
with local Modex Trading. Modex is co-owned by Tushar Ved, the promoter of Major Brands, which currently owns Promod’s franchisee rights in India. It may be noted that a study by management consulting firm Booz & Co had revealed that around 100 multinational retail and consumer companies had entered India between 1990 and 2010. As many as 86 companies entered before 2009, and a little over a fifth of this (or 18 companies) changed their partnership model. Retail analysts say it would be interesting to see whether there is scope for Tommy Hilfiger to open 500 stores in India and whether Promod with low recall value before it launched in India and a limited footprint would experience a game change post forming the joint venture since Major Brands’ portfolio also includes Mango, Charles & Keith, Aldo and now even Guess. The four-decade old brand, which claims to refresh its collection with 100 new products every two weeks, competes with women-centric, trendy brands such as Zara, s.Oliver and Esprit. Meanwhile, even Madura Fashion & Lifestyle (MF&L) is in the process of converting the distribution agreement it signed with Esprit in 2005 into a joint venture. With MNC brands establishing themselves with the low-risk and low-return model through franchisees and distribution agreements, they are now looking at forming JVs by scouting for able partners. For instance, UK-based retailers Clarks, and Marks & Spencer, have extended their distribution or franchise agreements into joint ventures with Future Group and Reliance Retail respectively. In the recent past, there have been major partnership reshuffles in India that included Giorgio Armani parting ways with DLF Brands and going for a franchisee deal with Genesis Luxury, Versace, Corneliani and Guess, who too are scouting for a new local partner to start afresh, and Guess planning a tie up with Major Brands, the marketer of Mango and Aldo in India. As consumer goods and retail consultancy Third Eyesight explains, about one-third of the more than 150 international fashion brands launched in India over the past seven years have either changed partners or exited the market and around 26 brands have changed partners, while 23-26 exited the market with at least half of those later returning either as a wholly-owned subsidiary or with a new partner.Source: Fashion United

Read More........ → September 16, 2012

Domestic single-brand retailers eye foreign funds

While the government is trying to resolve issues related to 100 per cent FDI in single-brand retail, single brand domestic retailers, holding more than 50 per cent stake in the company are looking at attracting FDI to carry out their retail expansion plans. Indeed while the retail sector looks lucrative for foreign PE funding, recent cases of leading domestic apparel companies reeling under debt pressures after having differences with their investors puts a question mark on the real prospects. After Lilliput Kidswear announced plans to sell off the company after a fall-out with PE investors TPG and Bain Capital, the second largest kids’ wear

Read More........ → September 08, 2012

Will Mukesh Ambani's billion-dollar bet on aerospace business work?

There  is  a  talk   in  India's  defence  circles  that  when  Reliance Industries Ltd  (RIL)  chairman  Mukesh

Ambani hired Vivek Lall from Boeing more than a year ago to launch RIL's aerospace and homeland security businesses, India's richest man had a dream: to build an entity like Boeing. There are others who say Ambani dreams not just big, but bigger — he wanted to build an aerospace company bigger than the world's best. Whatever the talk may be, the "quiet aggression" from India's largest private-sector company in forging ahead with its plans in aerospace business is remarkable, says a Mumbai-based consultant who has watched RIL for decades. "They are ready for the long-haul game," he says asking not to be named because he isn't authorised to speak to the media. ET reported on Saturday that RIL has sought an industrial licence to make aircraft parts and develop aerospace technologies. The company has filed an application with the department of industrial policy and promotion ( DIPP), under the ministry of commerce and industry. As the report says, the objective of the new entity, called Reliance Aerospace Technologies Pvt Ltd, is "to design, develop, manufacture, equipment and components, including airframe, engines, radars, avionics and accessories for military and civilian aircraft, helicopters, unmanned airborne vehicles and aerostats". The report quoted executives close to the matter as saying

that RIL is expected to invest close to $1 billion in its aerospace business in the next few years. The Rs 44,000-crore conglomerate is also looking at hiring more than 1,500 people in the new business, the report said. Idea of a Hub Creating a manufacturing hub is at the heart of Mukesh Ambani's ambition in the aerospace business, says the Mumbai consultant. "He seems to be focusing on aircraft parts in the short term and on developing new technologies in the long term," this person said. He also felt RIL, now ranked No. 99 on the Global Fortune 500 Companies list, is likely to emerge as a "predominant player" in the aerospace and defence segments "to the extent that its other businesses might not be as important in a decade from now". RIL executives refuse to be drawn into making forecasts about the chunk of its revenues that would come from defence projects a decade or so later. However, they have long maintained that aerospace is a "significant segment" for the company — both in the aircraft parts and the aircraft building business. They have also said the highly networked and deep-pocketed company clearly has a natural edge in such cost-intensive segments Source: Link

Read More........ → August 10, 2012

Now do vote for 'The Greatest Indian' list

From Jawaharlal Nehru and Lata Mangeshkar to Vikram Sarabhai and E. Shreedharan - a list of Indians who have shaped the country since its independence, have been listed under various categories as part of an initiative by History TV18 and CNN IBN to win "The Greatest Indian" title. As many as 50 nominees across five categories - political leaders, arts and social leaders, movie related, entrepreneurs and idea leaders and sports and administrators, have been short listed for the initiative. Based on British show "The Greatest Briton", which has been adapted in 21 countries so far, the series, which went on air Monday, is set to trigger a debate on who is the greatest Indian after Mahatma Gandhi. "I'm sure this series will trigger an enthusiastic debate in homes, offices and public places around the country," Rajdeep Sardesai, editor-in-chief, IBN18 Network, told in a press statement. According to Ajay Chacko of A+E Networks | TV18, the poll will help youth recognize the achievements of country's key individuals. "This partnership with CNN IBN enables HISTORY TV18 to bring forth the inspiring figures over the years, after the Mahatma, who have had the maximum impact on the country's present and future. "While the jury and nationwide polls will ultimately lead to the search for that one individual who's contribution to India has been overwhelmingly acknowledged as the most enduring, it also gives us Indians a chance to be aware of the contributions of many other great individuals from diverse fields," he told. The jury for the entire process consists of a panel of 28 Indians from different walks of life. It includes names like Shashi Tharoor, Nandan Nilekani, Rajkumar Hirani, Soli Sorabjee, Shabana Azmi and Arun Jaitley among others. Along with the nationwide poll, equal weightage will be given to the jury's selection as well as a separate market research poll conducted by The Nielsen Company. At first, a shortlist of the top 10 'Greats' will be decided, followed by the selection of the 'Greatest Indian'. The shortlist of top 10 'Greats' is slated to be revealed July 1 and the second round of voting will begin soon after. The initiative will culminate with the announcement of The Greatest Indian in a glittering ceremony to be telecast around Independence Day this year. As part of the nationwide poll, viewers can cast their vote by visiting the website TheGreatestIndian.in or giving a missed call to a unique number assigned to their nominee of choice. Here are the names of some leaders listed under each category: Political leaders - Atal Bihari Vajpayee, B. R Ambedkar, Indira Gandhi, Jawaharlal Nehru, APJ Abdul Kalam Arts and social leaders: Baba Amte, Mother Teresa, Pt. Ravi Shankar, M. F. Husain, Bismillah Khan Movie related: Amitabh Bachchan, Raj Kapoor, Rajinikanth, Satyajit Ray, Dev Anand, Mohammad Rafi Entrepreneurs and idea leaders: Homi Bhabha, Dhirubhai Ambani, Ghanshyam Das Birla, J. R. D. Tata, Ramnath Goenka, Amartya Sen Sports and administrators: Sachin Tendulkar, Kapil Dev, Sunil Gavaskar, Dhyan Chand, Viswanathan Anand, Milkha Singh Source: Garam Gossip

Read More........ → June 09, 2012

Birla bullish on fashion retail, takes on Tatas, Reliance

Fashion United: After acquiring controlling stake in the fashion retail business of Pantaloons, Aditya Birla Group is on the verge of becoming a giant fashion business house. According to Harminder Sahni, Director, Wazir Advisors, “AV Birla is the right buyer. They got into fashion business with the acquisition of Madura

Read More........ → May 28, 2012

Reliance Comm in exclusive pact with Google to market Android devices in india

Domain-B: ADAG group firm Reliance Communications today said it plans to exclusively market Android devices in India over its network for the next two years. It said through this collaboration with Google, Reliance Communications will market the Android mobile operating system and Google Mobile Services in order to promote the usage of Android devices in the country. "Reliance Communications, the first telecom operator in the country to collaborate with Google, is committed to devote dedicated resources to accelerate the delivery of superior services, content and applications for Android device users," the Indian firm said in a statement.The company said it would create exclusive data plans and services specifically targeted to promote Android devices on its network. This collaboration will ensure that the data plan is optimised for usage with Android devices and the services offered "will help create a distinctive and enhanced experience for existing customers on its network using Android devices along with the promotion of at least one 3G data plan." Reliance Communications said in line with other such collaborations in mature markets like US, Japan and Australia, "Google has associated with Reliance Communications to leverage the pan India high quality Reliance network, especially the superior Reliance 3G network" along with the fastest growing Android mobile platform to deliver leading-edge mobile applications, services and devices. Reliance said that it would offer an exclusive free 1GB usage per month under the 3G plan to all Android device users. It said it also plans to introduce expert customer care, carrier billing, exclusive apps and content in addition to the dedicated Android experience zone at Reliance retail outlets across the country. "The range of Android Smartphones to work best on the superior Reliance network will come from leading handset manufacturers in the world over the next two years, it added. Announcing this partnership, Sanjay Behl, group head, brand and marketing, Reliance Communications Limited, said, ''In line with the rapid growth of smartphones in the country, Reliance has collaborated with Google to catapult the change by providing compelling new experience to device users in terms of speed, coverage and app ecosystem across segments. Our collaboration with Google is set to bring in many novelties and unique features for device users on our superior network, complementing the innovation of Android powered services and devices.'' The marketing activities will include Above the Line / Below the Line activities, developing co-branded mobile applications for Android smartphones and marketing campaigns promoting the Google Mobile Services. To reveal the distinctive affiliation between Reliance and Android, Reliance Communications has introduced the Reliance - Android ''Blue Bot'' advertisement campaign across various platforms. Source: Domain-B

Read More........ → April 17, 2012