Jio Shelves IPO Plans to Maximize 5G Uptake and Broaden Tech Portfolio

Reliance Jio has officially postponed its much-anticipated IPO, originally slated for 2025, as it pivots toward strengthening its financial fundamentals and expanding its digital footprint.

Why the delay?

Jio wants to boost revenue and subscriber growth before going public, especially in its core telecom business, which contributes nearly 80% of its $17.6 billion annual revenue.

The company is also expanding into AI infrastructure, app development, and connected devices, aiming to diversify beyond telecom and attract a broader investor base.

Strategic moves underway:

Jio is migrating 4G users to higher-revenue 5G services, with over 130 million 5G subscribers already onboard. It’s building an Open Telecom AI Platform in collaboration with AMD, Cisco, and Nokia to integrate AI across network operations.

Further, the company is preparing to compete with Elon Musk’s Starlink in India’s satellite broadband space.

Valuation & investor sentiment:

Analysts value Jio between $111 billion and $136 billion, depending on cost pressures and tariff expectations.

Despite the delay, major investors like Google, Meta, KKR, and Silver Lake remain supportive, trusting in Jio’s long-term growth strategy.

This move echoes Mukesh Ambani’s broader philosophy: prioritize operational maturity over rushed market entry.

Reliance Industries Acquires Tech-driven Oncology Platform Karkinos Healthcare for Rs 375 Cr

Reliance Industries, through its wholly-owned subsidiary Reliance Strategic Business Ventures (RSBVL), has acquired the oncology-focused healthcare platform Karkinos Healthcare for ₹375 crore.

Incorporated in July 2020, Karkinos Healthcare is an oncology-focused healthcare platform that specializes in early cancer detection and treatment using technology-driven solutions.

Here are some key details about the acquisition:

• Date of Acquisition: The acquisition was completed on December 27, 2024.
• Nature of Business: Karkinos specializes in early cancer detection and treatment using technology-driven solutions.
• Turnover: Karkinos reported a turnover of ₹22 crore for the fiscal year 2022-23.
• Investors: Prominent past investors included Tata Sons, Reliance Digital Health Ltd, Mayo Clinic, Sundar Raman, and Ravi Kant.
• Resolution Plan: The resolution plan for Karkinos was approved by the National Company Law Tribunal (NCLT), Mumbai Bench, without requiring additional regulatory approvals.

Karkinos partners with hospitals to provide oncology services such as testing and radiation therapy. The company is involved in cutting-edge cancer research and provides financial guidance and community support to cancer patients.

Karkinos is setting up a 150-bed multispecialty cancer hospital in Imphal, Manipur.

The acquisition aims to expand Reliance's health services business portfolio and enhance its capabilities in cancer care.

To recall, earlier this month, Infosys has acquired a 20% minority stake in the healthcare deep-tech startup 4baseCare, for Rs 8.3 crore,which too is focused on developing oncology solutions.

In this month only, Bengaluru-based HealthCare Global Enterprises Limited (HCG), one of the largest cancer care networks in India, and consulting giant Accenture have announced a collaboration to accelerate cancer research and care using advanced AI technologies, including generative AI and deep learning on multi-dimensional and multi-omic patient data. 

Reliance Industries is Partnering Tech Mahindra and Nokia to Offer 4G and 5G Network Support in Ghana

Reliance Industries Limited (RIL), led by Mukesh Ambani, is expanding its telecom playbook beyond India. The company plans to offer 4G and 5G network support in Ghana, the second-most populous country in West Africa.

Reliance is partnering with Anand Mahindra's Tech Mahindra and Finnish multinational telecommunications company Nokia for this venture.

Ghana is poised to roll out 5G services within the next six months, bridging the digital divide and transforming lives and businesses through high-speed mobile data. The Minister of Communications and Digitalisation, Ursula Owusu-Ekuful, expressed inspiration from India's digital infrastructure and low-cost mobile data model. Ghana aims to replicate this success by rapidly expanding 5G services across the country.

Next-Gen Infrastructure Company (NGIC) , which has the Ghanaian government, Ascend Digital, and K-Net as stakeholders, will be involved in this initiative. NGIC is the first neutral 5G shared infrastructure provider in Africa. It has been awarded Ghana's first 5G license and aims to build and operate a nationwide 4G/5G network.

NGIC plans to invest around Rs 1661 crore over three years to scale up its 4G and 5G networks in Africa. This investment will help mobile operators optimize costs by sharing infrastructure resources.

NGIC'S CEO, Harkirit Singh, announced plans to launch its wholesale 4G/5G Network as a Service within the next six months. The company aims to deliver affordable mobile broadband services to all Ghanaians and eventually expand to other parts of Africa.

Radisys, a subsidiary of RIL, will offer NGIC its own 5G software stack. Jio Platforms Ltd’s 5G stack uses Open radio access network technology and gear for delivering 5G-based fixed wireless access (FWA) services in African markets, starting with Ghana.

Anand Mahindra promoted Tech Mahindra is tasked with developing a Cloud-Native Core Network, leveraging platforms from leading original equipment manufacturers (OEMS). This core network will be a critical component in delivering high-speed data access to Ghana people.

Nokia, a global leader in telecom technology, brings its expertise in mobile broadband technology to the table. Nokia will contribute to supporting the establishment of an open-access network model designed to spur innovation and create economic opportunities in Ghana.

Radisys, a global leader in open telecom solutions, was acquired by RIL, in June 2018, to bolster its offerings in the telecom sector, particularly in areas like 5G and the Internet of Things (IoT). The acquisition was at a price of US$1.72 per share in cash, which amounted to a total deal size of approximately $74 million.

Headquartered in Hillsboro, Oregon, with an engineering team based out of Bengaluru, India, Radisys has been instrumental in providing disruptive open-centric software, hardware, and service capabilities that enable the migration to next-generation network topologies.

This collaboration of RIL, through its subsidiary Radisys, with Tech Mahindra and Nokia aims to enhance telecom capabilities and digital experiences in Ghana and potentially other African countries.

Mukesh Ambani, Asia's richest man and the head of Reliance Industries Ltd., has set his sights on Africa with an ambitious telecom venture with the goal of winning mobile broadband customers in a high-growth market of Africa, and Radisys plays a crucial role in this.

Tesla in Talks with Reliance To Form JV for EV Manufacturing Plant

Electric vehicle giant Tesla is in the initial stages of talks with Reliance Industries Limited (RIL) to form a joint venture and build a manufacturing plant in India.
While the role of RIL hasn't been finalized yet, it is expected that the Indian conglomerate may play a significant part in establishing the manufacturing facility and the allied ecosystem for Tesla in India.

While the specific timeline hasn't been finalized, senior Tesla officials are expected to visit India soon to finalize the plant's location and discuss the potential joint venture with RIL. The Indian government's recent approval of an EV policy aims to position India as a global manufacturing hub for EVs, with incentives for investment and domestic value addition.

Tesla has reportedly allocated $2 billion for its upcoming ventures in India, with plans to establish a manufacturing plant in either Gujarat or Maharashtra.

Senior officials from Tesla are expected to visit India soon to finalize the plant's location and discuss the potential joint venture with Reliance Industries Limited. If the ongoing talks with RIL do not materialize, Tesla may explore other domestic partners.

Late last week, Tesla reportedly initiated the production of right-hand drive cars at its plant in Germany, specifically for export to India, later this year. Tesla plans to enter the Indian market, which is the world's third-largest car market.

Besides Tesla, several other automakers are exploring or have already set up electric vehicle (EV) manufacturing facilities in India. The Vietnamese automaker VinFast is planning to establish a manufacturing facility in either Gujarat or Tamil Nadu. VinFast intend to bring three models to India – VF3, VF5, and VFe34.

Greaves Electric Mobility, Ather Energy, ATUL Auto, Bajaj Auto,Hero Electric, Hyundai Motor India, Mahindra & Mahindra, MG Motor India, Okinawa Autotech, Piaggio, Tata Motors, TVS Motor Company, and VE Commercial Vehicles are among the companies with EV manufacturing facilities in India. These facilities are located in various states, including Tamil Nadu, Maharashtra, Gujarat, and Telangana

The Indian government has approved policies to promote EV manufacturing, offering incentives to attract investments from global manufacturers. These policies aim to position India as a global hub for electric vehicles

India's growing focus on EVs reflects the country's commitment to sustainable mobility and reducing emissions.

Reliance and Disney Form $8.5 Bn JV to Merge Respective Digital Streaming and TV Assets in India

Reliance and Disney Announce Strategic Joint Venture to Bring Together the Most Compelling and Engaging Entertainment Brands in India

• Companies to merge respective digital streaming and television assets in India to create a world class leader across entertainment and sports
• Reliance to invest ₹11,500 crore in the Joint Venture Disney to provide Content License to the Joint Venture

Reliance Industries Limited (“RIL”), Viacom 18 Media Private Limited (“Viacom18”) and The Walt Disney Company (NYSE:DIS) (“Disney”), on Wednesday, announced the signing of binding definitive agreements to form a joint venture (“JV”) that will combine the businesses of Viacom18 and Star India. As part of the transaction, the media undertaking of Viacom18 will be merged into Star India Private Limited (“SIPL”) through a court- approved scheme of arrangement.

In addition, RIL has agreed to invest at closing ₹11,500 crore (~US$ 1.4 billion) into the JV for its growth strategy. The post-money basis transaction values the JV at Rs 70,352 crore ($8.5 billion), not including any synergies.

The transaction values the JV at ₹70,352 crore (~US$ 8.5 billion) on a post-money basis, excluding synergies. Post completion of the above steps, the JV will be controlled by RIL and owned 16.34% by RIL, 46.82% by Viacom18 and 36.84% by Disney.

Disney may also contribute certain additional media assets to the JV, subject to regulatory and third-party approvals.

Mrs. Nita M. Ambani will be the Chairperson of the JV, with Mr. Uday Shankar as Vice Chairperson providing strategic guidance to the JV.

The JV will be one of the leading TV and digital streaming platforms for entertainment and sports content in India, bringing together iconic media assets across entertainment (e.g. Colors, StarPlus, StarGOLD) and sports (e.g. Star Sports and Sports18) including access to highly anticipated events across television and digital platforms through JioCinema and Hotstar. The JV will have over 750 million viewers across India and will also cater to the Indian diaspora across the world. 

The JV will seek to lead the digital transformation of the media and entertainment industry in India and offer consumers high-quality and comprehensive content offerings anytime and anywhere. The combination of the media expertise, cutting-edge technology and diverse content libraries of Viacom18 and Star India will allow the JV to offer more appealing domestic and global entertainment content and sports livestreaming services, while delivering an innovative and convenient digital entertainment experience at affordable prices. With the addition of Disney’s acclaimed films and shows to Viacom18’s renowned productions and sports offerings, the JV will offer a compelling, accessible and novel digital-focused entertainment experience to people in India and the Indian diaspora globally.

The JV will also be granted exclusive rights to distribute Disney films and productions in India, with a license to more than 30,000 Disney content assets, providing a full suite of entertainment options for the Indian consumer.

Speaking about the JV, Mr. Mukesh D Ambani, Chairman & Managing Director of Reliance Industries, said, “This is a landmark agreement that heralds a new era in the Indian entertainment industry. We have always respected Disney as the best media group globally and are very excited at forming this strategic joint venture that will help us pool our extensive resources, creative prowess, and market insights to deliver unparalleled content at affordable prices to audiences across the nation. We welcome Disney as a key partner of Reliance group.”

Mr. Bob Iger, CEO of The Walt Disney Company, said, “India is the world’s most populous market, and we are excited for the opportunities that this joint venture will provide to create long- term value for the company. Reliance has a deep understanding of the Indian market and consumer, and together we will create one of the country’s leading media companies, allowing us to better serve consumers with a broad portfolio of digital services and entertainment and sports content.”

Mr. Uday Shankar, Co-founder of Bodhi Tree Systems, said, “We are privileged to be enhancing our relationship with Reliance to now also include Disney, a global leader in media & entertainment. All of us are committed to delivering exceptional value to our audiences, advertisers, and partners. This joint venture is poised to shape the future of entertainment in India and accelerate the Hon’ble Prime Minister’s vision of making Digital India a global exemplar.”

The transaction is subject to regulatory, shareholder and other customary approvals and is expected to be completed in the last quarter of Calendar Year 2024 or first quarter of Calendar Year 2025.

Goldman Sachs is acting as financial and valuation advisor and Skadden, Arps, Slate, Meagher & Flom LLP, Khaitan & Co and Shardul Amarchand Mangaldas & Co are acting as legal counsels to RIL and Viacom18 on the transaction. Ernst & Young has provided an independent valuation to RIL and Viacom18, while HSBC India acting as financial advisor has provided a Fairness Opinion to Viacom18.

The Raine Group is acting as lead financial advisor to Disney on the transaction. Citi is acting as a financial advisor to Disney. Cleary Gottlieb served as lead outside counsel to Disney and Covington & Burling and AZB served as legal counsels to Disney on the transaction. BDO has provided an independent valuation to SIPL. 

About Reliance Industries Limited

Reliance is India’s largest private sector company, with a consolidated revenue of Rs 9,74,864 crore (US$118.6 billion), cash profit Rs 1,25,951 crore (US$ 15.3 billion) and net profit of Rs 73,670 crore (US$9.0 billion) for the year ended March 31, 2023. Reliance’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, advanced materials and composites, renewables (solar and hydrogen), retail and digital services.

Currently ranked 88th, Reliance is the largest private sector company from India to be featured in Fortune’s Global 500 list of ‘World’s Largest Companies’ for 2023. The company stands 45th in the Forbes Global 2000 rankings of 'World’s Largest Public Companies' for 2023, the highest among Indian companies. Reliance is the top-ranked Indian company and the only one in the top 100 on Forbes' 'World's Best Employers' 2023 list. Additionally, it is featured among LinkedIn’s 'Top Companies 2023: The 25 Best Workplaces To Grow Your Career In India."

About Viacom 18 Media Private Limited

Viacom18 Media Pvt. Ltd. is one of India’s fastest growing entertainment networks and a house of iconic brands that offers multi-platform, multi-generational and multicultural brand experiences. Viacom18 defines entertainment in India by touching the lives of people through its properties on air, online, on ground, in cinemas and merchandise. Its portfolio of 40 channels across general entertainment, movies, sports, youth, music and kids genres delights the consumers across the country with its eclectic mix of programming. JioCinema, Viacom18’s OTT platform, is one of India’s leading streaming services and most popular destination for live sports. Viacom18 Studios has successfully produced and distributed iconic Hindi films and clutter-breaking regional films for over 13 years in India.

About The Walt Disney Company

The Walt Disney Company, together with its subsidiaries and affiliates, is a leading diversified international entertainment and media enterprise that includes three core business segments: Entertainment, Sports and Experiences. Disney is a Dow 30 company and had annual revenues of $88.89 billion in its Fiscal Year 2023.

About Star India

With a television network that reaches more than 700 million viewers in nine different languages every month and a streaming platform (Disney+ Hotstar) that has transformed the way India consumes entertainment, Disney Star is a leading media & entertainment company in the country. The organization’s entertainment portfolio, which generates more than 20,000 hours of original content every year, cuts across general entertainment, sports, films, infotainment, kids and lifestyle content. With leadership positions in every segment it occupies, Disney Star has been redefining the media landscape for more than 30 years now, anchored on the three pillars of storytelling, innovation and an unwavering focus on delivering to the expectations of our audiences.

About Bodhi Tree Systems

Bodhi Tree Systems is a strategic investor in consumer technology opportunities in Southeast Asia, with a particular focus on India. The entity is a platform of James Murdoch's Lupa Systems and Uday Shankar and was established in 2021 to explore and invest in Southeast Asia and the Middle East. In addition to media, Bodhi Tree expects to invest in other consumer technology sectors that represent significant opportunities but suffer from a lack of capital and innovation – including healthcare and education. Qatar Investment Authority (QIA), the sovereign wealth fund of the State of Qatar, is an investor in Bodhi Tree Systems.

Swan Energy Takes Full Control of Anil Ambani's Reliance Naval; Board Approves ₹4,000 Cr Fundraising

Mumbai-headquartered business house Swan Group's Swan Energy Limited has received the formal handover of management control of Reliance Naval and Engineering from the National Company Law Tribunal (NCLT) -appointed Monitoring Committee.

In December 2022, Swan Energy acquired erstwhile Anil Ambani group company Reliance Naval & Engineering (RNEL), with an aim to turn itself into the biggest private player in the manufacture of naval defence and oil and gas vessels.

In a latest now, NCLT's monitoring committee has handed over the management control with the approval of all the Committee of Creditors members and the committee now stands dissolved with effect from Thursday.

In addition, the board has approved the proposal to raise up to ₹4,000 crore and has also made a prepayment of ₹300 crore, debt for its Floating Storage and Regasification Unit project.

Swan Energy has set up the board with its managing Director Nikhil Merchant, Executive Director Paresh Merchant and Bhavik Merchant and Vivek Merchant, among others, as members.

Led by businessman Nikhil Merchant and his family, Swan Energy partnered Hazel Mercantile Ltd through a special purpose vehicle (SPV) — Hazel Infra Ltd — to acquire RNEL, the largest shipyard in the country. Swan Energy, a diversified business group with interests in oil and gas, real estate and textiles, holds a 74% stake in the SPV while Hazel Mercantile owns the rest.

Reliance Naval and Engineering Limited (R-Naval), was earlier known as Reliance Defence & Engineering Limited and prior to that as Pipavav Shipyard Limited.

The company is the first private sector company in India to obtain a license and contract to build warships.

Reliance Industries Becomes 1st Indian Company to Chemically Recycle Plastic Waste Into International Sustainability & Carbon Certification (ISCC)-plus Certified Circular Polymers

The new innovation at Reliance Industries' Jamnagar refinery became the first refinery to get the important ISCC-Plus Certification. 

Reliance Industries Limited (RIL), operator of the world's largest integrated refining and petrochemical complex, has become the first Indian company to chemically recycle plastic waste-based pyrolysis oil into International Sustainability & Carbon Certification (ISCC)-Plus certified Circular Polymers. This new innovation is a testimony to RIL's commitment in reducing plastic waste and supporting Circular Economy in India.

Chemical recycling is a new development where the waste plastic, mechanically not recyclable, is converted to pyrolysis oil by suitable cracking of long polymer chain. Currently, most of the pyrolysis processes are based on thermal route which leads to lower yield and inferior quality of pyrolysis oil. RIL has developed a continuous catalytic pyrolysis technology which provides high yields of good quality pyrolysis oil from plastic waste. The process has been successfully demonstrated at demo scale.
RIL shipped its first batch of ISCC-Plus certified Circular Polymers, named CircuRepol™ (Polypropylene) and CircuRelene™ (Polyethylene).

RIL paves the way in India by using new technology to recycle plastic by converting plastic waste into special Circular Polymers, thereby making a positive impact on the environment. RIL’s commitment to sustainability is demonstrated through its innovative methods like chemical recycling which help create a Circular Economy. The company firmly believes in finding smart solutions to reduce plastic waste and inspire others to join in this journey towards a greener future.

CircuRepol™ and CircuRelene™ have been designed to lead the way in Circular Economy practices. RIL's Jamnagar refinery became the first refinery to get the important ISCC-Plus certification, proving that it can produce Circular Polymers through chemical recycling.

The ISCC-Plus certification guarantees that traceability and rules are followed in making Circular Polymers.

RIL has developed a technology that turns different types of plastic waste, including single- use and multi-layered plastics, into pyrolysis oil. The company is working with trusted partners to increase the production of this oil and turn the yield into Circular Polymers.

Chemical recycling has many benefits, including turning plastic waste into high-quality materials for new plastic. These materials can be used for packaging that comes into contact with food.

About Reliance Industries Limited

Reliance is India’s largest private sector company, with a consolidated revenue of INR 9,74,864 crore (US$118.6 billion), cash profit INR 1,25,951 crore (US$ 15.3 billion) and net profit of INR 73,670 crore (US$9.0 billion) for the year ended March 31, 2023. Reliance’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, advanced materials and composites, renewables (solar and hydrogen), retail and digital services.

Currently ranked 88th, Reliance is the largest private sector company from India to be featured in Fortune’s Global 500 list of 'World’s Largest Companies' for 2023. The company stands 45th in the Forbes Global 2000 rankings of 'World’s Largest Public Companies' for 2023, the highest among Indian companies. Reliance is the top-ranked Indian company and the only one in the top 100 on Forbes' 'World's Best Employers' 2023 list. Additionally, it is featured among LinkedIn’s 'Top Companies 2023: The 25 Best Workplaces To Grow Your Career In India.' Website: www.ril.com

Jio Demos India’s 1st Satellite-based Gigabit Broadband To Connect The Remotest Corners Of India

Jio provides fully inclusive broadband through JioFiber, JioAirFiber, and now JioSpaceFiber

Jio to connect everything everywhere across land, air, sea & space

Reliance Jio Infocomm Limited, the world’s largest private mobile data network, successfully demonstrated India’s first satellite-based giga fiber service to provide high speed broadband services to previously inaccessible geographies within India. Jio demonstrated its new satellite broadband, called JioSpaceFiber, at India Mobile Congress on Friday. The service will be available across the length and breadth of the country at highly affordable prices.

Today, Jio delivers high speed broadband fixed line and wireless services to over 450 million Indian consumers. To accelerate digital inclusivity for every household in India, Jio has added JioSpaceFiber to its premier lineup of broadband services, JioFiber and JioAirFiber. With Jio, consumers and businesses have unprecedented access to reliable, low latency and high- speed internet and entertainment services, regardless of location. The satellite network will also support additional capacity for mobile backhaul, further enhancing the availability and scale of Jio True5G in the remotest parts of the country.

Jio is partnering with SES to access the world’s latest in medium earth orbit (MEO) satellite technology, the only MEO constellation capable of delivering truly unique Gigabit, fiber-like services from space. With Jio having access to a combination of SES’s O3b and new O3b mPOWER satellites, it is the only company that offers game-changing technology, providing scalable and affordable broadband across all of India with a level of guaranteed reliability and service flexibility that is a first in the industry. 

To demonstrate its power and reach, four of the remotest locations in India have already 
been connected with JioSpaceFiber:

• Gir Gujarat
• Korba Chattisgarh
• Nabrangpur Odissa
• ONGC-Jorhat Assam

“Jio has enabled millions of homes and businesses in India to experience broadband internet for the first time. With JioSpaceFiber, we expand our reach to cover the millions yet to be connected,” said Akash Ambani, Chairman Reliance Jio Infocomm Limited. “JioSpaceFiber will allow everyone, everywhere, to fully participate in the new digital society with gigabit access to online government, education, health, and entertainment services.”

“Together with Jio, we are honoured to support the Government of India's Digital India initiative with a unique solution that aims at delivering multiple gigabits per second of throughput to any location in India,” said John-Paul Hemingway, Chief Strategy Officer at SES. “Our first fiber-like services from space are already deployed today in parts of India, and we cannot wait to see how this will lead to digital transformation even in the most rural parts of the country."

Reliance Jio Infocomm Limited, a subsidiary of Jio Platforms Limited, has built a world-class all-IP data-strong future-proof network using 4G LTE and 5G technologies. It is the only network conceived as a Mobile Video Network from the ground up. It is future-ready and can be easily upgraded to support even more data, as technologies advance to 6G and beyond.

Jio has brought transformational changes in the Indian digital services space to enable the vision of Digital India for 1.4 billion Indians and propel India into global leadership in the digital economy. It has created an ecosystem comprising of network, devices, applications and content, service experience, and affordable tariffs for everyone to live the Jio Digital Life. 

Reliance Brands Acquires Majority Ownership in UK based Superdry's IP in India, Sri Lanka and Bangladesh

Reliance Brands Limited (RBL), through its wholly owned subsidiary in UK (RBUK), has today  a definitive agreement to enter a joint venture with UK-based Superdry PLC, marking a significant new chapter in its partnership with Superdry PLC. The joint venture entity will acquire Superdry's intellectual property assets for the India, Sri Lanka, and Bangladesh territories. RBUK and Superdry will own 76% and 24% of the joint venture entity, respectively. The consideration for the IP is £40.0 million, which is estimated to result in Superdry PLC receiving gross cash proceeds of £30.4 million (approx. £28.3 million net of fees and taxes) from RBUK.

RBL had inked a long-term franchise agreement with Superdry PLC in 2012 and introduced the brand in India. This strategic evolution of brand ownership aims to capitalise on the increasing affluence and evolving consumption patterns of Indian shoppers. Coupled with Reliance Brand’s appetite to invest in accelerating Indian consumption narrative, the deal paves way for Superdry’s future expansion in the country and neighbouring territories. 

Superdry's unique fusion of British heritage, American styling, and Japanese graphics has carved a niche among fashionable young Indian consumers. The brand has expanded rapidly to 200 points of sale across 50 cities. E-commerce continues to drive incremental growth for the brand, boosting its reach beyond 2,300 Indian cities, underlining RBL-run Superdry India operations as the largest franchisee network of the brand globally.

Superdry’s offerings include versatile outerwear, T-shirts, and shirts for men and women, which have become increasingly popular, alongside categories like shoes and accessories. The brand has consistently adapted to Indian shopping needs and introduced swimwear, fragrances, as well as an exclusive Denim & Shirt range earlier this year. In 2019, Superdry expanded into sports and activewear under ‘Superdry Sport’, adding performance-driven products to its portfolio. Bollywood actor Kartik Aryan has also been part of the brand since 2022 as a brand ambassador, featuring prominently in brand campaigns and new launches.

Darshan Mehta, MD of Reliance Brands Limited, remarked, “Superdry has come to define urban cool in India for more than a decade. The journey has been rewarding & fun in equal parts due to working with the hugely talented Superdry team and the sense of camaraderie led by Julian. I look forward with excitement to this new era of our partnership.”

Superdry UK will maintain a stake in the brand for the Indian territory and will continue to support brand development through sharing expertise in design, product development, and marketing.

Julian Dunkerton, Superdry’s CEO and Founder, expressed: “We are pleased to be announcing this IP agreement with our long-term partners, Reliance. India represents an incredible opportunity for Superdry, and our excellent existing relationship with Reliance means we will be able to hit the ground running. Under our new partnership, I am confident that the brand will continue to accelerate and build on our success to date to become a major force in the Indian fashion market.”

This announcement represents a natural progression in the brand's ongoing success and popularity in India. The new partnership will enable deeper collaboration between RBL and Superdry PLC, facilitating new sourcing channels, as well as introduction of India- centric product categories, cost optimization, and long-term investments in brand development.

ABOUT RELIANCE BRANDS LIMITED

Reliance Brands Limited (RBL) is a subsidiary of Reliance Retail Ventures Limited and began operations in 2007 with a mandate to launch and build global brands in luxury to premium segments across fashion and lifestyle.

Its current portfolio of brand partnerships comprises Armani Exchange, Bally, Bottega Veneta, Brooks Brothers, Burberry, Canali, Coach, Diesel, Dune, EA7, Emporio Armani, Ermenegildo Zegna, G-Star Raw, Gas, Giorgio Armani, Hamleys, Hugo Boss, Hunkemoller, Iconix, Jimmy Choo, Kate Spade, La Martina, Lenscrafters, Manish Malhotra, Michael Kors, Mothercare, Muji, Paul & Shark, Paul Smith, Pottery Barn, Pottery Barn Kids, Pret A Manger, Raghavendra Rathore, Replay, Salvatore Ferragamo, Satya Paul, Steve Madden, Superdry, Scotch & Soda, Tiffany & Co., Tod’s, Tory Burch, Tumi, Valentino, Versace, Villeroy & Boch, and West Elm. RBL today operates 2,169 doors split into 905 stores and 1,264 shop-in-shops in India.

In the past five years, RBL has also invested in building and operating homegrown designer brands besides acquiring the iconic British toy retailer Hamleys. Globally Hamleys has 192 doors across 16 countries.

ABOUT SUPERDRY

Superdry’s mission is “To be the #1 Premium Sustainable Style Destination” through its distinct collections, defined by consumer style choices. Superdry designs affordable, premium quality clothing, accessories and footwear which are sold around the world. Superdry has a clear strategy for delivering continued growth via a multi-channel approach combining Stores, Ecommerce, and Wholesale.

Superdry has 213 physical stores and 410 Superdry-branded franchised and licensed stores in 51 countries, as well as 18 Superdry-branded websites translated into 21 languages.

Jio Raises ~ $2 Bn, for Buying 5G Gears from Nokia, in One of India’s Largest Offshore Loan

Mukesh Ambani's Jio Infocomm has reportedly raised nearly $2 billion (about Rs 16,640 crore) in one of the country's biggest offshore loans in FY'24.

According to an Economic Times report, the raised capital would be utilized towards buying 5G equipment from Nokia. HSBC was the lead arranger of the loan.

Finnish government-owned finance agency Finnvera reportedly provided a cover of a similar sum to insure Jio’s 5G gear supplier Nokia and the telecom company’s global lenders from future risks. The cover is expected to reduce Jio’s overall 5G gear funding costs and it will make the lender and supplier more comfortable, The Economic Times reported citing people aware of the matter.

The loan, which is about $1.5-2 billion, "...is structured in a way that carries with it an implied rate of interest arrived over the tenure of the loan,” said the Economic Times report, quoting one of the people aware of the matter as saying."

Earlier about a month back, Jio raised $2 billion from BNP Paribas to purchase 5G equipments from Ericsson.

As part of its 5G roll out strategy, Reliance Jio is poised to bring 5G prepaid and postpaid plans to consumers by December.

Reliance Retail In Talks To Raise Fresh $1.5 Bn from Existing Investors

After securing $250 million from American global investment company KKR & Co Inc just a few days back, Reliance Retail is planning to raise another fresh funds from its existing investors including the sovereign wealth funds of Singapore, Abu Dhabi and Saudi Arabia for combined new fundraise of around $1.5 billion, reported news agency Reuters, citing three sources with direct knowledge of the development.

Reliance Retail is in talks with the investors as per its internal target of raising $3.5 billion by the end September. The company has raised 1.25 billion in total, in last two months.

Notably, QIA last month announced a $1 billion investment and KKR & Co this week $250 million.

Singapore's GIC, the Abu Dhabi Investment Authority (ADIA) and Saudi Arabia's Public Investment Fund (PIF) are looking to invest at least $500 million each in Reliance Retail at a valuation of $100 billion, said the Reuters report citing one of its sources.

The report further states that some of the investors may invest less than $500 million, and thus, Reliance Retail is also looking at some other investors for raising funds to complete its target of $1 billion.

Additionally, Reliance Industries, the parent of Reliance Retail, could also invest in the ongoing fundraising round.

GIC, PIF and ADIA are among the world's biggest investment funds, and together they own a 4.4% stake in Reliance Retail.

GIC is Sovereign wealth fund established by the Government of Singapore in 1981. It has invested in more than 40 countries worldwide and manages the Singapore's foreign reserves.

Reliance Retail's parent Reliance Industries is India’s largest private sector company, with a consolidated revenue of INR 9,74,864 crore (US$118.6 billion), cash profit INR 1,25,951 crore (US$ 15.3 billion) and net profit of INR 73,670 crore (US$9.0 billion) for the year ended March 31, 2023.

US-based KKR Increases Stake in Reliance Retail By Investing Additional ₹2,069.50 Cr

Reliance Retail Ventures Limited (“RRVL”) announced today that global investment firm KKR & Co Inc ("KKR"), through an affiliate, will invest ₹ 2,069.50 crore ( ~ approx $250 million) into RRVL, a subsidiary of Reliance Industries Limited. This investment values RRVL at a pre-money equity value of ₹ 8.361 lakh crore, which makes it among the top four companies by equity value in the country.

This comes within weeks after RRVL raised funds amounting ₹ 8,278 crore (approx. US $1 billion) from Qatar's sovereign wealth fund, Qatar Investment Authority (QIA).

KKR’s follow-on investment will translate into an additional equity stake of 0.25% in RRVL on a fully-diluted basis.

This, combined with its stake from its investment of ₹ 5,550 crore in RRVL in 2020, will take its total equity stake in RRVL to 1.42% on a fully-diluted basis. In 2020, RRVL raised an aggregate amount of ₹ 47,265 (US $5.71 billion) from various global investors, at a pre-money equity value of ₹ 4.21 lakh crore ($52 billion).

RRVL, through its subsidiaries and associates, operates India's largest, fastest growing, and most profitable retail business serving 267 million loyalty customers with an integrated omnichannel network of over 18,500 stores and digital commerce platforms across grocery, consumer electronics, fashion & lifestyle, and pharma consumption baskets.

RRVL’s vision is to galvanize the Indian retail sector through an inclusive strategy serving millions of customers, empowering micro, small and medium enterprises (MSMEs) and working closely with global and domestic companies as a preferred partner, to deliver immense benefits to Indian society, while protecting and generating employment for millions of Indians. RRVL, through its New Commerce business, has digitized more than 3 million small and unorganised merchants. This will enable these merchants to use technology tools and an efficient supply chain infrastructure to deliver a superior value proposition to their own customers.

Founded in 1976, KKR has approximately $519 billion in assets under management (AUM) as of June 30, 2023. KKR has a long history of building leading global enterprises that are at the forefront of technology and digital transformation, including in the areas of consumer retail and eCommerce, as well as a track record of supporting leading corporations in India.

KKR’s follow-on investment in RRVL furthers its relationship with Reliance Industries Limited. In addition to its investment in RRVL, KKR is also an investor in Jio Platforms Limited, a leading digital services platform and a subsidiary of Reliance Industries Limited.

Reliance is India’s largest private sector company, with a consolidated revenue of INR 9,74,864 crore (US$118.6 billion), cash profit INR 1,25,951 crore (US$ 15.3 billion) and net profit of INR 73,670 crore (US$9.0 billion) for the year ended March 31, 2023. Reliance’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, advanced materials and composites, renewables (solar and hydrogen), retail and digital services.

Currently ranking 88th, Reliance is the largest private sector company from India to feature in Fortune’s Global 500 list of “World’s Largest Companies” for 2023. The company stands 45th in the Forbes Global 2000 rankings of “World’s Largest Public Companies” for 2023 - top-most among Indian companies. Reliance has been ranked among the world's 20 best companies to work with, highest amongst Indian companies in Forbes’ World's Best Employers for 2022.

Qatar's Sovereign Fund QIA Invests $1 Bn in Reliance Retail at $100 Bn Valuation

Qatar's sovereign wealth fund, Qatar Investment Authority (QIA), announced on Wednesday that an investment of ₹ 8,278 crore (approx. $1bln) into Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries Limited . QIA is making this investment for a minority equity stake of 0.99% in RRVL on a fully-diluted basis.

With this fresh investment from QIA, RRVL values at a pre-money equity value of $100 billion or Rs 8.27 lakh Crore. QIA’s investment comes as the Qatari fund seeks to further invest in India’s fast-growing economy. 

QIA said that investment in Reliance Retail is demonstration of its diversified approach to global investment and confidence in India’s fast-growing economy. India’s growth trajectory and national focus on innovation aligns with QIA’s investment approach to support companies in India with high-growth potential.

Recent investments from QIA in India have included companies in the technology, media and telecoms sector, retail sector, and in green energy investments.

The previous fundraise round by RRVL in 2020 from various global investors of an aggregate amount of ₹ 47,265 crore was done at a pre-money equity value of ₹ 4.21 lakh crore.

In November 2020, Saudi Arabia’s Public Investment Fund (PIF) invested ₹9,555 crore for a little over 2% in RRVL.

To date, Reliance Retail has raised about $7.4 billion in total 7 rounds from Qatar and Saudi's sovereign wealth funds, Abu Dhabi Investment Authority, Singapore's GIC, TPG, General Atlantic, Mubadala and Silver Lake among others.

Ms Isha Mukesh Ambani, Director, Reliance Retail Ventures Limited, said, “We are delighted to welcome QIA as an investor in the Reliance Retail Ventures Limited. We look forward to benefitting from QIA’s global experience and strong track record of value creation as we further develop Reliance Retail Ventures Limited into a world class institution, driving transformation of the Indian retail sector. The investment by QIA is a strong endorsement of a positive outlook towards Indian economy and Reliance’s retail business model, strategy and execution capabilities."

Mansoor Ebrahim Al-Mahmoud, CEO, QIA, said, “QIA is committed to supporting innovative companies with high-growth potential in India’s fast growing retail market. We are looking forward to Reliance Retail Ventures Limited, with its strong vision and impressive growth trajectory, joining our growing and diverse portfolio of investments in India.”

RRVL, through its subsidiaries and affiliates, operates an integrated omni-channel network of over 18,500 stores and digital commerce platforms across Grocery, Consumer Electronics, Fashion & Lifestyle and Pharma consumption baskets and has partnered with over 3 million merchants through its New Commerce initiative. Reliance Retail Limited, a subsidiary of RRVL, is the only Indian retailer in the global Top 100 and amongst the fastest growing retailers globally as per Deloitte's Global Powers of Retailing 2023.

Reliance Partners Mercedes-Benz Sister Co. To Unveil India's 1st Hydrogen-powered Intercity Luxury Concept Coach

Mukesh Ambani led Reliance Industries has partnered with BharatBenz, a subsidiary of Mercedes-Benz’s sister company Daimler Truck AG to unveil India's first intercity luxury concept coach powered by Hydrogen Fuel Cell technology.

The Hydrogen-powered concept coach was showcased at the 4th Energy Transitions Working Group meeting under India’s G20 Presidency in Goa.

Currently in the concept stage, the upcoming hydrogen-powered bus will undergo extensive testing for the next 12 months and the bus will develop around 300bhp, making it suitable for intercity applications.

Visit India's first Hydrogen Fuel Cell inter-city luxury coach, a collaboration between #BharatBenz & Reliance Industries, that is on display for the 14th Clean Energy Ministerial and 8th Mission Innovation Meeting at Dr. Shyama Prasad Mukerjee Indoor Stadium until July 22nd. pic.twitter.com/75a8WhJy25

— BharatBenz (@BharatBenz1) July 20, 2023

The coach is powered by a fuel cell system designed and developed by Reliance Industries using state-of-the-art components from international partners with significant localization, said Nitin Seth, chief executive officer- new mobility, Reliance Industries Ltd, in a LinkedIn post.

The H2-powered bus delivers a gross system power of 127 Kw and net power of 105 Kw, which is equivalent to 300 HP in line with current diesel bus for intercity applications. The intercity bus can travel approximately 400 km on single hydrogen fill and can bring long distance travel between cities on clean fuel like Hydrogen.

Earlier this year in February, Reliance Industries unveiled India's first Hydrogen Internal Combustion Engine technology solution for heavy-duty trucks, which was flagged off by Prime Minister Narendra Modi at the India Energy Week in Bangalore.

Reliance Brands in Talks To Acquire Alia Bhatt Co-founded Ed-a-Mamma

Reliance Brands, a retail company and a subsidiary of Reliance Industries, is reportedly in talks to acquire actress Alia Bhatt co-founded sustainable kid's wear brand Ed-a- Mamma for about Rs 300 crore to Rs 350 crore.

Launched in October 2020, Ed-a-Mamma offers kids wear for girls & boys aged between 2-14 years, that are made of natural fabrics and are biodegradable.

The acquisition is expected to strengthen Reliance's children's wear portfolio and give it a greater toehold in the kidswear market. The eco- friendly brand operates primarily online but is also sold through retail chains such as Shoppers Stop and Lifestyle.

The acquisition talks is in the final stages and an agreement is likely to be signed in the next seven to 10 days, said the report. 

Touted as a completely vegan compliant brand, Ed-a-Mamma has earn certifications like — SEDEX (global certification for ethical trade), Green Denim Certifications through Zero Liquid Discharge (ZLD certification), organic clothing through GOTS (Global Organic Textile Standard) certification.

In an another development, Reliance Retail, along with Jindal and GBTL have submitted offers to acquire bankrupt Future Enterprises, according to disclosures made by the company to the stock exchange. The National Company Law Tribunal admitted Kishore Biyani's Future Enterprises for corporate insolvency on February 27.

Motorola Partners with Reliance Jio to Enable True 5G Across Its Extensive 5G Smartphone Portfolio in India

Business Wire India

• Motorola has rolled out software updates enabling Jio’s True 5G across its extensive 5G portfolio in India.
• Motorola ensures True 5G support in its 5G smartphones with support for Industry’s highest 11-13 5G bands, 3 Carrier Aggregation and 4X4 MIMO for the fastest and most reliable 5G experience across price points.
• Motorola smartphones also support the low frequency n28 band which allows consumers to get wider coverage and better network reception indoors.
• All Motorola devices have been tested extensively as per the global 5G standards and adhere to 5G SAR norms for India.

With customer-centricity and innovation at its heart, Motorola is committed to giving consumers in India a ‘No Compromise’ - True 5G experience that allows them to discover, connect, and expand in the world around them through 5G. Motorola, in partnership with Reliance Jio has ensured that its 5G smartphones in India support Jio’s advanced Stand-Alone (SA) 5G technology, ensuring the most complete and advanced 5G experience for consumers in India.

Motorola was the first OEM in the world to launch a 5G capable smartphone and has used its extensive knowledge and understanding of 5G technology to give the most advanced 5G features to Indian consumers across price points. The brand’s 5G smartphone portfolio in India is comprehensive and cuts across multiple smartphone segments, including mass, mid, and premium. The brand has lived by its promise of providing uncompromised, True 5G support in all its 5G smartphones, which includes support for 11-13 5G bands, by far the highest in the industry. Additionally, the entire 5G portfolio including affordable 5G smartphones such as moto g62 5G from Motorola come with advanced hardware and software capabilities to deliver the most reliable, fast, secure and comprehensive 5G coverage through technologies like 3 Carrier Aggregation, 4X4 MIMO and more.
 
Motorola 5G smartphone users will now be able to make the most of Jio’s True 5G experience Due to its three-fold advantage:

1. Stand-alone 5G architecture with advanced 5G network with Zero dependency on 4G network
2. The largest and best mix of 5G spectrum across 700 MHz, 3500 MHz, and 26 GHz bands
3. Carrier Aggregation that seamlessly combines these 5G frequencies into a single robust “data highway” using an advanced technology called Carrier Aggregation

Speaking on the occasion, Prashanth Mani, Executive Director, Motorola Asia Pacific, said, “At Motorola, meaningful innovation coupled with customer centricity is key. Motorola smartphones give an exceptionally reliable, optimized, and fast 5G experience across price points, staying true to our commitment of giving True 5G - the most comprehensive, no compromise 5G smartphone portfolio to Indian consumers with support for up to 13 5G bands across price points. We are delighted to partner with Reliance Jio with a vision to take Jio’s state-of-the-art ‘True 5G’ to millions of Indian consumers.”

Speaking on the occasion, Sunil Dutt, President, Reliance Jio, said, “We are delighted to partner with Motorola, to further strengthen the True 5G device ecosystem in India. The real power of a 5G smartphone can only be unleashed by a True 5G network like Jio, that is built as a Standalone 5G network, the most advanced network of its kind. Motorola comes with advanced 5G features such as carrier aggregation, 4x4 Mimo and support for most 5G bands in India. These features along with Jio True 5G network will unleash the true potential of 5G in India."

"All Jio users using Motorola devices will be able to access truly unlimited 5G internet under the Jio Welcome Offer in areas where Jio True 5G has or is being rolled out rapidly.”

Motorola has as always raised the bar to ensure that 5G experience on their smartphones is truly the best in the industry – with exceptional reliability, optimization, coverage and security, with industry-leading speeds and higher coverage in both urban indoor and rural areas.

Motorola 5G devices support all-India 5G bands, irrespective of price tier, so that everyone is assured of reliable connectivity. They ensure higher coverage in both urban and rural areas. Motorola can optimise your device to provide you with the best experience and performance because of its extensive knowledge of 5G and Al. Additionally, a seamless switching algorithm between 5G bands enables you to take advantage of uninterrupted talks with better and enhanced coverage.

Minimal interruptions and dips, providing uninterrupted connectivity. Whether you're farther from a 5G tower in low-network areas, an indoor workplace, a basement, or a subway, you may still experience killer speed 5G. All Motorola 5G smartphones have undergone security testing and are shielded by ThinkShield, ensuring that you always have a secure experience on your device. The recent gadgets have Moto Strong Box, a hardware chip on board Safe-and-Secure, for advanced security. Furthermore, devices are SAR tested and certified.

Complete list of Motorola 5G devices enabled with Reliance Jio’s – True 5G (SA) mode is given below:

motorola edge 30 ultra, motorola edge 30 fusion, moto g62 5G, motorola edge 30, moto g82 5G, motorola edge 30 pro, moto g71 5G, moto g51 5G, motorola edge 20, motorola edge 20 fusion.

Reliance General Insurance and Paytm Partner to Offer Customisable Health Product Reliance Health Gain Policy to the Masses

Enables users to buy the Reliance Health Gain Policy from the Paytm app

Aims to enhance the insurance penetration in the country with greater accessibility

Reliance General Insurance Co. Ltd., one of India's leading General Insurance companies, has joined hands with Paytm, India’s leading digital payments and financial services company and the pioneer of QR and mobile payments, to offer Reliance Health Gain Policy – one of the most customisable health insurance products to the masses. Now, customers can also buy the Reliance Health Gain Policy in just a few minutes by filling in the required details on the Paytm app.

Reliance General Insurance has always strived to make health insurance more accessible all across India. Launched in May this year, Reliance Health Gain Policy offers a bouquet of "need of the hour" features and benefits. It gives its customers the freedom to choose benefits/features and personalise plans as per their needs.

With this partnership, Reliance General Insurance and Paytm aim to enhance the insurance penetration in the country. Towards this end, Reliance General Insurance is making its most customer friendly Reliance Health Gain Policy available to Paytm’s vast customer base across India’s smaller cities and towns. Paytm is one of the champions of digital payments in India and has been at the forefront of India’s digital revolution, with its innovations that make everyday life simpler.

Commenting on the development, Mr. Anand Singhi, Chief Distribution Officer, Reliance General Insurance, said, "We look forward to extending the innovative health insurance solutions of Reliance Health Gain Policy to the masses through Paytm's robust presence across the country. Thereby empowering the customers with the freedom of choice in health insurance. This is one of our many efforts towards ensuring easy and greater access to health insurance for all throughout the country."

Paytm spokesperson said, “As the pioneer of digital payments in India, we strive to bring innovative technology-driven products that drive financial inclusion. We are committed to improving the insurance penetration in the country by offering seamless digital access to our massive customer base across India. Our recent partnership with Reliance General Insurance is aligned towards making digital insurance accessible to all.”

Reliance Health Gain Policy is one of the most flexible and customizable health insurance policies that we have seen so far in the industry. Available in three plans out three different plans - Plus, Power and Prime – and an array of features to facilitate customisation of policy for each customer. The policy comes loaded with 38 features like Double Cover that provides twice the amount of sum-insured to be used during same claim; Unlimited reinstatement to restore the base sum insured amount as many times as it gets exhausted during a policy year; Guaranteed Cumulative Bonus, that protects loss of cumulative bonus post claim; or the benefit to reduce Pre-Existing disease waiting period from 3 years to 2 or even 1 year. With many more such benefits, the product has been designed keeping in mind the modern health-insurance consumer.

About Reliance General Insurance

Reliance General Insurance, a subsidiary of Reliance Capital, is one of India's leading general insurance companies. The Company offers a well-rounded and comprehensive bouquet of products including Motor Insurance, Health Insurance, Travel Insurance, Home Insurance, MSME/SME Insurance, Liability Insurance. It provides customised solutions to meet the protection needs of each customer. Reliance General Insurance has a growing network of 8500+ hospitals. It also has a robust network of more than 67,000 intermediaries and 131 branch offices across India for offering its products and services to retail, corporates, and SME clients. www.reliancegeneral.co.in | www.facebook/RelianceGenIn | @RelianceGenIn

About Paytm:

Paytm is India's payment Super App offering consumers and merchants most comprehensive payment services. Pioneer of mobile QR payments revolution in India, Paytm’s mission is to bring half a billion Indians into the mainstream economy through technology-led financial Services. Paytm enables commerce for small merchants and distributes various financial services offerings to its consumers and merchants in partnership with financial institutions.

Reliance Retail Acquires ‘amanté ’ Business of MAS Holdings

MAS Holdings has announced that Reliance Retail Ventures Limited (“RRVL”), has acquired 100% of the retail lingerie businesses under the ‘amante’ umbrella brand from MAS Brands, a wholly owned subsidiary of MAS Holdings, Sri Lanka.

The ‘amanté business’, which was established by MAS in 2007/8, engages in the retail and wholesale distribution of premium lingerie brands ‘amanté’, ‘Ultimo’ and ‘every dé by amanté’. The products are sold through its own stores and multi-brand outlets, as well as through its e-commerce channels across India and Sri Lanka.

The acquisition of the ‘amante’ business, by RRVL, India’s largest retailer, is another step in its journey of offering superior design led products and compelling value proposition for customers. RRVL will continue to collaborate and partner with MAS to leverage its design-to-delivery capabilities in sustainable manufacturing and product innovation.

Ms. Isha Ambani, Director, Reliance Retail Ventures Limited, said, “At Reliance, we pride ourselves in offering the best and enhancing choices to our customers. We are proud to add the high quality, design-led fashion and lifestyle brand ‘amante’ to our portfolio. MAS is a well-recognized product innovator and manufacturer for some of the iconic global brands in this segment - the partnership and collaboration we build together with them will offer Indian customers world class product quality and greater choices in this segment.”

“The acquisition by Reliance ensured that ‘amanté’ would benefit from Reliance’s scale and retail expertise, and that the brand we created and our employees in India and Sri Lanka will continue to benefit from being a part of a well-established retail company” stated Mahesh Amalean, Chairman MAS Holdings. “This was a business MAS built from the ground up, leveraging on years of expertise in the lingerie business, so we are excited to see it transition to new shareholders and a parent organisation that, without doubt, will enable the brand and the company to thrive” added MAS Co-Founder Ajay Amalean, who was directly responsible for overseeing the ‘amanté’ business from its inception.

“The teams at MAS Brands are excited at the new opportunities and prospects that this acquisition brings about and are anticipating the strategic advantages and new learning that will come from working as part of a retail giant such as Reliance” said Vivek Mehta, the CEO of MAS Brands India.

About Reliance Retail Ventures Limited:

RRVL is a subsidiary of Reliance Industries Limited and holding company of all the retail companies under the RIL Group. RRVL reported a consolidated turnover of ₹157,629 crore ($ 21.6 billion) and net profit of ₹5,481 crore ($ 750 million) for the year ended March 31, 2021.

RRVL is the largest and the most profitable retailer in India with the widest reach. It has been listed among the fastest growing retailers in the world in the Deloitte’s Global Powers of Retailing 2021 index. It is ranked 53rd in the list of Top Global Retailers and is the only Indian Retailer to feature in the Top 100.

About MAS Group

MAS Holdings manages a portfolio of businesses with a revenue of USD 2 billion and is one of the world’s most recognized design to delivery solution providers in the realm of apparel and textile manufacturing, with over 30 years in operation. It is the largest apparel and textile manufacturer in South Asia. The organization is head quartered in Sri Lanka with 52 manufacturing facilities placed across 16 countries, design locations placed in key style centers across the globe and over 100,000 people involved in its operation. The seamlessly integrated supply chain and the strategically placed design houses gives MAS the knowledge, the means, and the speed to deliver what is demanded by the ever-changing industry. MAS Holdings owns and manages a diverse portfolio of businesses across wearable technology, Femtech, medical apparel, start-ups, and fabric parks worldwide.

Visit www.masholdings.com for more information.

Google-backed 5G JioPhone May Launch on June 24

Reliance AGM 2021 date is now official. Reliance Industries has scheduled its 44th annual general meeting (AGM) for June 24.

Although the country’s most valuable company is likely to announce its new business ventures during the meeting, Reliance is also expected to unveil the anticipated Jio 5G phone backed by Google at the event.

Reliance may additionally announce its plans for 5G rollout at the AGM. The rumour mill also suggests the launch of the company’s affordable laptop that could be called the JioBook.

The Jio 5G phone is expected to be among the announcements taking place at the AGM. The smartphone has been in the works for some time now and was originally expected to debut in December.

Reliance Industries subsidiary Jio received a Rs. 33,737-crore investment from Google for its 7.7 percent stake in July last year. The deal included a plan to build an Android-based operating system for affordable 4G and 5G phones in the future. The operating system is expected to be called JioOS.

Specifications of the Jio 5G phone are yet to be revealed. However, it is mostly expected to be entry-level hardware with a streamlined Android Experience.

Announcement of Jio 5G Network 

In addition to the Jio 5G phone, the Reliance AGM this month may bring an announcement about Jio’s plans to roll out its 5G network.

Reliance Industries Chairman Mukesh Ambani in December revealed that Jio 5G services would begin in India in the second half of 2021. The telco is working with Qualcomm to test the next-generation network ahead of its public rollout.

JioBook Launch Expected

The AGM keynote may also have some details about Jio’s plans to bring its low-cost laptop that is rumoured as the JioBook. It is claimed to have 4G LTE connectivity and is based on Android-based JioOS.

Reliance AGM 2021 date, Livestream Details

The AGM will be held at 2pm on June 24, Reliance Industries revealed in a letter addressed to stock exchanges.

The Mumbai-headquartered company also noted in its public announcement that the AGM will be livestreamed through JioMeet for all Reliance’s shareholders. It is also likely to be streamed virtually for the general public on YouTube.

Jio Working on Affordable Laptops - 'JioBook'

Representative

After much speculations , Reliance's affordable laptop 'JioBook'  is now being tipped to launch very soon with an affordable price tag. The key specs have been revealed by XDA forum alongside the design. Reliance Jio is expected to launch a 5G smartphone and laptop at its annual general meeting (AGM), which is usually held in August or September

JioBook launch in India is said to happen by May running on Qualcomm Snapdragon 665 chipset and Android OS. The Jio laptop will have its own JioOS UI powering the system.

Few media speculations hints at JioBook laptop price starting at Rs 9,999. Jio laptop price may differ for different models and storage options. The Jio laptop will support 4G LTE connectivity with a 720p HD display.

For JioBook, Jio is partnering with China-based Bluebank Communication Technology, an engineering firm that creates mobile devices and develops software for third-parties, according to documents reviewed by XDA. On its website, Bluebank proudly mentions its work creating products that run KaiOS, a mobile operating system for feature phones, and includes images of both generations of Reliance’s JioPhone.

Jio has partnered with China-based Bluebank Communication Technology to bring the affordable JioBook laptop to India.

Jio would like to replicate the success of JioPhone with the JioBook laptop. The low-cost Jio Phone helped millions of users to move 2G from feature phone to 4G.

The Jio laptop news broke out first in 2018 when Qualcomm had said it was in talks with Reliance Jio to launch affordable laptops in India with cellular connectivity. Now in 2021 we may finally see JioBook launching in India.

Also there has been reports about JioBook price in India, said to start at as low as Rs 10,000.