QIA to invest $1 billion in Reliance Retail Ventures
RRVL, the holding company of Reliance Retail Ltd (RRL), had diluted 10.1% stake and raised over $6 billion in 2020 from several financial sponsors and sovereign wealth funds (SWFs) such as KKR, General Atlantic, TPG, Silver Lake, L Catterton, Abu Dhabi Investment Authority, Mubadala and Public Investment Fund of Saudi Arabia.
Reliance Retail opts for reduction of share capital, payout at Rs 1,362/ share
"The Board of Directors of the Company at its meeting held on July 4, 2023, approved a proposal to reduce the equity share capital to the extent held by shareholders other than its Promoter and holding company, namely, Reliance Retail Ventures Limited," RIL said in a regulatory filing.
Tata-owned Infiniti Retail's sales nearly double to Rs 16,015 crore in FY23
The company in the filings did not give any reasons behind the financial performance. Industry executives said this jump in revenue – highest growth rate in at least the last five years – is driven by Croma becoming the exclusive online seller for all electronic products in the groups e-commerce platform Tata Neu and rapid offline store expansion.