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In July 2023, it was spun-off via a demerger, [3] with shareholders of Reliance Industries receiving one equity share of Jio Financial Services for every share they held in Reliance. [6] Reliance Industries transferred Rs 15,500 crore of cash and liquid investments to Jio Financial Services as part of the demerger scheme.
The net valuation of the company was at ₹ 4,295 crore (equivalent to ₹ 53 billion or US$620 million in 2023), whereas the net cash flow for RIL stood at ₹ 1,341 crore (equivalent to ₹ 17 billion or US$190 million in 2023) in the multi year transaction between 2011 and 2014 including those related to ETV. RIL had mitigated costs in this ...
The share prices [129] of RIL were impacted by some margin when this news broke out. In 2005, after a bitter public feud between the brothers over the control of the Reliance empire, mother Kokilaben intervened to broker a deal splitting the RIL group business into two parts. [ 130 ]
In July 2022, Reliance Retail entered a similar franchising agreement with Gap to bring Gap to India. [29] In January 2022, Reliance Retail invested $200 million in Dunzo for a 25.8% stake. [30] In 2022, soft drink brand Campa Cola was acquired by Reliance Industries for ₹22 crores. In March 2023, Reliance Consumer Products (RCPL), the fast ...
Reliance Jio has introduced a budget-friendly 4G phone called Jio Bharat at an affordable price of ₹999. The phone's sales commenced on 7 July 2023, and Reliance Jio aims to eliminate 2G technology from India through the widespread adoption of this device. The Jio Bharat Phone is specifically targeted towards individuals who are unable to ...
The automaker's adjusted earnings per share of $1.92 in the quarter also exceeded analyst forecasts of $1.89 per share. It earlier had said it sold 2.7 million vehicles for the year, up 4% from 2023.
Reliance Group (stylized as ReLIΛNCe) is an Indian conglomerate, headquartered in Mumbai, India. The company, which was formed after Dhirubhai Ambani's business was ...
It is a subsidiary of Reliance Industries. Established in 2019, it acts as a holding company for India's largest mobile network operator, Jio, and other digital businesses of Reliance. [3] Since April 2020, Reliance Industries has raised ₹ 152,056 crore (US$18 billion) by selling a 32.97% equity stake in the company. [4]