mukesh ambani

In his virtual address, Reliance Industries chairman Mukesh Ambani spoke about the journey of Reliance Jio and vision for country’s digital future.

Addressing the inaugural session of RAISE 2020 Summit, Mukesh Ambani said that India will have an advantage over its peers in the future due to enormous digital capital, which will enable faster economic growth, greater prosperity and better standards of living across all sections of our society.

Reliance Retail Limited, a subsidiary of RRVL, operates India’s fastest growing and most profitable retail business serving close to 640 million footfalls across its ~12,000 stores nationwide.

Reliance Industries Limited and Reliance Retail Ventures Limited (RRVL) on Wednesday announced that global investment firm KKR will invest Rs 5,550 crore into RRVL, a subsidiary of Reliance Industries.

Reliance Industries had crossed $ 150 billion market capitalisation on June 19, 2020. In less than 60 days, it has added around $ 60 billion in investor value.

Morgan Stanley acted as financial advisor to Reliance Retail and Cyril Amarchand Mangaldas and Davis Polk & Wardwell acted as legal counsels. Latham & Watkins and Shardul Amarchand Mangaldas & Co acted as legal counsels for Silver Lake.

Ambani scions Akash Ambani and Isha Ambani have been selected in the ‘40 under 40’ list of most influential young leaders.

A FB user shared a post claiming, “Mukesh Ambani on becoming 6th most richest person in the world has announced free recharge of Rs 349/- for 3 months to 99,000 Reliance Jio users. We found this to be utterly fake.

Reliance Retail is all set to acquire retail & wholesale business and logistics & warehousing business of Future Group for a lumpsum aggregate consideration of Rs 24,713 crore.

It is worth noting that Reliance Industries raised capital worth Rs 1,52,056 crore in the midst of a pandemic, by selling over 33% stake in its Reliance Jio platforms to partners such as Google and Facebook.