On October 25, Reliance Industries declared that Reliance Intelligence Limited, its wholly owned subsidiary, has formed a new business, Reliance Enterprise Intelligence Limited (REIL), as part of a joint venture with Facebook’s Indian division.
The unit, which will concentrate on creating, promoting, and disseminating enterprise AI services, has received an initial combined investment of about INR 855 crore from the businesses run by Mark Zuckerberg and Mukesh Ambani.
Facebook Overseas, Inc., a fully owned subsidiary of Meta Platforms Inc., will own the remaining 30% of REIL, with Reliance Intelligence holding the remaining 70%. Additionally, RIL’s AI division will contribute INR 2 crore to the inaugural 20 million equity share purchase at INR 10 per share.
REIL’s Incorporation Doesn’t Require Any Regulatory Approval
The filing states that none of the promoters, the promoter group, or the group companies of Reliance Industries have any stake in the transaction and that the incorporation of REIL does not qualify as a related party transaction. Additionally, the filing stated that the incorporation of REIL did not require any regulatory or governmental clearances.
The partnership, which was first revealed at RIL’s Annual General Meeting in August, would provide AI solutions for a variety of industries by combining Reliance’s enterprise reach with Meta’s open-source Llama models. This collaboration will concentrate on two primary products: a portfolio of pre-configured solutions for sectors including sales, marketing, IT operations, customer support, and finance, and an enterprise AI platform-as-a-service that allows businesses to design and implement generative AI models.
Reliance will make use of its digital infrastructure and access to thousands of Indian small and enterprise firms, while Meta will contribute its technological know-how in creating Llama-based models. With a focus on reducing total cost of ownership, the solutions will be deployable in cloud, on-premises, and hybrid settings.
RIL and its Operations
RIL is the biggest private sector enterprise in India. Hydrocarbon production and exploration, petroleum refining and marketing, petrochemicals, advanced materials and composites, renewables (hydrogen and solar), retail, and digital services are all included in its operations. With a 9.94% increase in operating revenue to INR 2,58,898 crore in Q2 FY26 compared to Q2 FY25, RIL’s consolidated net profit soared 9.54% to INR 18,165 crore.
Quick Shots
•Reliance
Industries announces incorporation of REIL, a joint venture with Facebook’s
Indian arm.
•The
JV has received an initial investment of INR 855 crore — Reliance holds 70%,
Meta (via Facebook Overseas Inc.) owns 30%.
•Incorporation
of REIL does not require any government or regulatory clearances and is not a
related party transaction.
•REIL
will develop, promote, and deliver enterprise AI services for sectors like
sales, marketing, IT, customer support, and finance.
•Includes
a portfolio of pre-configured AI solutions and an enterprise AI
platform-as-a-service for building generative AI models.
According to state minister TRB Rajaa, Reliance Consumer Products Limited will invest INR 1,156 crore to establish an integrated manufacturing facility in Tamil Nadu. The plant will be established in SIPCOT Allikulam Industrial Park in Thoothukudi, Tamil Nadu, the State Industries Minister wrote in a post on X.
Over the next five years, 2,000 jobs in Tamil Nadu will be created by the Reliance facility, he said. According to Rajaa, this 60-acre factory will concentrate on producing a variety of goods, including biscuits, atta, spices, edible oil, and regional munchies. For TN, it will create 2,000 local jobs over the next five years.
Investments Pouring In for TN
Two Central Government Public Sector Undertakings (PSUs), Cochin Shipyard Ltd and Mazagon Dock Shipbuilders Ltd, had previously announced plans to invest a total of INR 30,000 crore to build state-of-the-art Greenfield commercial shipyards in Tamil Nadu, significantly enhancing the state’s industrial landscape.
MoUs would create 55,000 jobs and signal Tamil Nadu’s notable ascent as a global centre for shipbuilding and maritime innovation, according to a social media post published by BJP politician Amit Malviya.
According to the BJP leader’s post, Cochin Shipyard Ltd. has invested INR 15,000 crore and created 10,000 jobs (4,000 direct and 6,000 indirect) in Phase 1. Mazagon Dock Shipbuilders Ltd.: 45,000 employees (5,000 direct, 40,000 indirect) | INR 15,000 crore investment.
Together, these two Ultra Mega MoUs will create 55,000 jobs and solidify Tamil Nadu’s position as a global centre for shipbuilding and maritime innovation, Malviya continued. This is a wave of growth, sustainability, and future possibility, not just an investment. “We appreciate Prime Minister Narendra Modi’s vision and steadfast support of Tamil Nadu’s development, he opined.
Raja praised Chief Minister MK Stalin’s leadership for these advancements and added that Tamil Nadu continues to draw major national FMCG companies to the state under the Dravidian Model leadership of Chief Minister Thiru. MK Stalin avargal, and the state is not ignoring any significant sector.
Reliance Retail to go Public Soon
As the oil-to-telecom giant founded by billionaire Mukesh Ambani prepares for an IPO for its retail division, Reliance Industries Ltd has moved all of its consumer goods brands to a new wholly-owned company.
The brands that were previously in the ownership of Reliance Retail Ltd., Reliance Retail Ventures Ltd., and Reliance Consumer Products Ltd. have been transferred to the so-called New Reliance Consumer Products Ltd., or RCPL. These brands include clothing, fashion, food, personal care, and beverages.
Quick
Shots
•The facility will be set up in SIPCOT
Allikulam Industrial Park and will span 60 acres.
•The project is expected to create
2,000 jobs in Tamil Nadu over the next five years.
•The plant will manufacture a range of
FMCG products including biscuits, atta, spices, edible oils, and regional
snacks.
•Tamil Nadu’s industrial push
continues with INR 30,000 crore investment from Cochin Shipyard and Mazagon
Dock Shipbuilders.
According to various media reports, Mukesh Ambani, who announced that Reliance Industries’ telecom division, Reliance Jio, would go public next year, is also working on listing Reliance Retail, which may be valued at around $200 billion.
With the demerger of the fast-moving consumer goods (FMCG) division, Reliance Consumer Products, which will now be a direct subsidiary of Reliance Industries, the process of shrinking and simplifying Reliance Retail, the biggest retailer in the nation, has already begun.
According to sources, the FMCG demerger and the rationalisation of Reliance Retail’s store network—which includes eliminating underperforming locations—are being carried out to increase the company’s margins with the goal of obtaining a favourable valuation so that it can enter the market.
Providing a Healthy Exit Opportunity to Investors
Although it is still early, there are signs that a public offering is imminent, with Reliance Jio’s listing coming a year later in 2027. Investors like Singapore’s GIC, the Abu Dhabi Investment Authority, the Qatar Investment Authority, KKR, TPG, Silver Lake, and others will have exit opportunities as a result of the listing.
Reliance Smart, Freshpik, Reliance Digital, JioMart, Reliance Trends, 7-Eleven, Reliance Jewels, and other formats will remain part of Reliance Retail following the split of Reliance Consumer. After receiving all necessary regulatory permissions, the demerger of Reliance Consumer is anticipated to be finished by the end of this month.
Financial Dynamics of Reliance Retail
Reliance Retail has been streamlining its shop network over the last few quarters by shutting down underperforming locations. Reaching a double-digit operating margin is the goal. Reliance Retail reported $2.9 billion in operating profit on $38.7 billion in revenue in FY25. In FY25, its EBITDA margin was 8.6%; in the June quarter, it increased slightly to 8.7%. According to sources, although the discussions are still in their early stages, there might even be a consolidation of the models.
Dunzo Write-off & Market Strategy
All of Reliance Retail’s investments in the now-defunct hyperlocal delivery business Dunzo have been formally wiped off. The conglomerate’s 78,923 equity shares of Dunzo, which were internally valued at INR 1,645 Cr in FY24, were worth nothing during the fiscal year under review, according to Reliance Industries Ltd.’s (RIL) FY25 annual report.
According to the report, the now-defunct business generated INR 1 Cr in operating revenue in FY25. This comes more than seven months after Reliance Retail, the biggest shareholder in the hyperlocal firm, wrote off its $200 million investment in it, according to various media reports.
Kabeer Biswas, the CEO and cofounder of Dunzo, left his position that same month to join Flipkart’s Minutes, a fast commerce startup.
Quick
Shots
•Mukesh Ambani eyes $200 billion IPO
valuation for Reliance Retail.
•Reliance Jio listing expected in
2027, Reliance Retail IPO likely before that.
•FMCG arm Reliance Consumer demerged
into a direct subsidiary of Reliance Industries.
•Retail rationalisation underway –
closing underperforming stores to improve margins.
As the oil-to-telecom giant founded by billionaire Mukesh Ambani prepares for an IPO for its retail division, Reliance Industries Ltd. is moving all of its consumer products brands to a new wholly owned company.
According to a June 25 National Company Law Tribunal order, the brands—which include clothing, fashion, food, personal care, and beverages—that are presently owned by Reliance Retail Ltd. (RRL), Reliance Retail Ventures Ltd.(RRVL), and Reliance Consumer Products Ltd.(RCPL) will be transferred to the so-called New Reliance Consumer Products Ltd., or New RCPL.
In their application with the NCLT, the Reliance firms stated that, in contrast to retail, this is a major operation that requires specialised and concentrated attention, experience, and diverse skill sets.
According to the filing, the change will enable the capital-intensive consumer goods company to draw in a new group of investors. Additionally, it will help the retail company that is getting ready for an IPO focus more intently.
Operations of New RCPL
As per the agreement, New RCPL would produce, market, sell, and distribute consumer goods. According to the NCLT filing, it will also make investments in joint ventures and subsidiaries associated with this enterprise.
This development coincides with experts pointing to signs of improvement in Reliance’s retail division following a poor year-end performance on March 31 brought on by a slowdown in consumption and a reorganisation of its store network.
Just two years after its reintroduction in India, Reliance’s beverage brand Campa Cola acquired double-digit market share in strategic regions.
Its network of beauty care products, Tira, includes the Korean brand Sulwhasoo, the American brands Smashbox and Estee Lauder, and the domestic upstart Re’equil.
Reorganisation to be Concluded in Four Stages
There will be four main stages to the restructuring. Through slump sale, RRL’s FMCG brands will first go to parent RRVL. After that, RCPL and RRVL will merge.
The combined “consumer brands business undertaking” will thereafter depart from RRVL and relocate to Tira Beauty Ltd., which is now a dormant business.
As a continuing business, Tira Beauty will then be referred to as New Reliance Consumer Products (New RCPL). To have the proposed “composite scheme of arrangement” approved, the Mumbai NCLT bench directed RRVL to schedule meetings with its 14 equity owners and creditors.
Meetings for RRL, RCPL, and Tira Beauty shareholders were judged unnecessary based on the consent affidavits that were presented. According to the corporation, over 60% of the INR 11,500 crore in sales in FY25 came from kiranas and general trade.
Campa achieved double-digit market share in some regions, according to the company’s results call. Its goods are available in over one million retail locations through a distribution network that includes over 3,200 partners.
In addition, the NCLT division bench, which included technical member Prabhat Kumar and Justice VG Bisht, directed the firms to furnish information on their performance and corporate guarantees as well as any contingent liabilities that may be in place.
Reliance Industries, controlled by Mukesh Ambani, the richest man in India, has reportedly obtained a $2.98 billion loan. In more than a year, this is the biggest deal of its kind for an Indian borrower.
According to cited sources, a further 55 banks have signed a loan deal. As of right now, it is the biggest consortium of lenders for a syndicated loan in Asia.
Loan levels in the Asia Pacific area, excluding Japan, have dropped to a 20-year low in 2025, according to data gathered by a news agency.
Only approximately $29 billion worth of agreements in the three main world currencies—the US dollar, the euro, and the Japanese yen—have been completed. Thus, in an Asian market with little transaction activity, this loan demonstrates lenders’ desire for excellent investment prospects.
Surge in Indian Companies Seeking Loan in Foreign Currencies
According to data from a media outlet, the overall loan amount for the year is predicted to reach $10.4 billion following this Reliance deal, which is the quickest rate in at least a decade.
According to the research, it shows a pattern of a sharp rise in foreign exchange loans to Indian businesses. Reliance Industries’ big borrowing is primarily to blame for this increase. According to a media report, the loan from Reliance Industries is split into two parts: $2.5 billion and ¥67.7 billion, or $463 million.
On May 9th, the loan deal was signed. Reliance Industries had not taken out a foreign loan since 2023 prior to this one. The business raised more than $8 billion in loans that year, including a $5 billion syndicated deal. About 55 lenders were drawn to the parent company’s and its subsidiary Reliance Jio Infocomm Ltd’s prior loans.
According to Bloomberg data, banks were keen to lend to such highly rated businesses. At the moment, Reliance Industries’ credit rating is one level higher than that of the Indian government. Since a company’s creditworthiness is usually lower than that of its home country, this is rare. Reliance Industries has a BBB rating from Fitch Ratings and a Baa2 rating from Moody’s Ratings.
Reliance Continues its Investment in Varieties of Businesses
The most recent loan was taken out as Reliance keeps increasing investment in all of its different operations.
During his speech at the company’s annual general meeting (AGM) in August 2024, Mukesh Ambani outlined an ambitious plan, saying the group wanted to move up from its current ranking in the top 50 to the 30 most valuable companies in the world.
Ambani attributed this vision to the group’s growing emphasis on sophisticated manufacturing and deep technology, two fields in which Reliance is now a stand-alone technology manufacturer.
He also presented ambitious expectations for the company’s “New Energy” segment, estimating that within five to seven years, it will be as profitable and large as Reliance’s conventional oil-to-chemicals (O2C) operation.
The group has pledged to make significant investments in the manufacturing of polyester, plastics, and biogas. These include a trial project for an integrated energy plantation, the construction of 55 compressed biogas plants by 2025, and increased capacity in speciality polyester, polyvinyl chloride (PVC), and chlorinated PVC (CPVC) by 2026–2027.
Indian billionaires have carved a niche in global luxury real estate by combining opulence, strategic investments, and immense wealth. Whether in Mumbai’s bustling streets or the quiet countryside of Switzerland, these magnates’ properties embody their global influence and architectural marvels. In addition to serving as personal retreats, their residences showcase a blend of cultural heritage and modern luxury, often located in the world’s most coveted locations.
In this article, we take you inside the most stunning homes owned by Indian billionaires. Think palatial estates, futuristic penthouses, and historic villas, each with its own story of ambition, prestige, and India’s rising global influence.
Mukesh Ambani, chairman of Reliance Industries and India’s richest man with a net worth of $113.6 billion (as of 2025), is not just known for his business expertise, but also his taste in real estate is just as headline-worthy. From owning one of the most expensive private residences in the world to acquiring luxury properties in global hotspots, Ambani’s real estate empire is a reflection of both personal lifestyle and business foresight.
Antilia
Mukesh Ambani’s Antilia
At the heart of his real estate portfolio is Antilia, a 27-story vertical mansion located on Altamount Road, Mumbai, one of the most expensive addresses in the world. Valued at approximately INR 15,000 crore, the skyscraper mansion is a marvel of modern architecture and luxury.
Designed by Perkins & Will and built by Leighton Holdings, Antilia spans 400,000 square feet and includes a multi-level garage for 168 cars, a three-helipad rooftop, a private movie theater with 50 seats, a snow room, multiple swimming pools, a yoga studio, and a multi-level garden. It’s not just a home; it’s a statement of ambition, scale, and wealth.
Palm Jumeirah Villas
In 2022, Ambani made waves when he entered the Middle Eastern property market with not one but two back-to-back acquisitions on Palm Jumeirah, one of the world’s most exclusive man-made islands in Dubai. Just a few months later, Ambani purchased a second beachfront property nearby, setting a new record for Dubai’s residential market.
Stoke Park
In 2021, Ambani expanded his empire into the UK with the acquisition of Stoke Park Estate, a 300-acre Georgian-era property located in Buckinghamshire, England. This acquisition aligns with his broader investments in lifestyle and leisure businesses, further diversifying Reliance’s global portfolio.
Mandarin Oriental, New York
Ambani also has a strategic stake in the United States through his acquisition of a majority interest in the iconic Mandarin Oriental Hotel in New York. In 2022, Reliance Industrial Investments and Holdings (RIIHL), a subsidiary of Reliance Industries, purchased the hotel for $98 million. The 248-room hotel is located at Columbus Circle in Manhattan and offers sweeping views of Central Park and the Hudson River.
In 2023, industrialist Pankaj Oswal, known for his ventures in the fertilizer and energy sectors, made headlines across Europe and India with one of the most extravagant real estate purchases of the year. He acquired Villa Vari, a palatial estate nestled in Gingins, Switzerland, between Geneva and Lausanne.
The property, estimated to be worth INR 1650 crore, is among the most expensive private residences in the region. Villa Vari spans 40,000 square meters and offers breathtaking views of Mont Blanc. This acquisition places Villa Vari among the world’s top 10 most expensive private residences.
Adar Poonawalla
Adar Poonawalla, the CEO of Serum Institute of India—the world’s largest vaccine manufacturer entered the elite real estate circuit of London in late 2023 with the acquisition of Aberconway House, a historic mansion near Hyde Park. Purchased for a staggering £138 million (approx. INR 1,446 crore), this 25,000-square-foot estate was previously owned by Polish billionaire Dominika Kulczyk.
The acquisition places Poonawalla among a growing list of Indian billionaires investing in global trophy properties, particularly in London’s exclusive neighborhoods. Known for his refined taste in luxury cars and architecture, Poonawalla’s new residence is another reflection of his affinity for timeless grandeur and international status.
Ravi Ruia, co-founder of the Essar Group, created ripples in the UK real estate market with his purchase of Hanover Lodge in Regent’s Park, London, for £113 million (approx. INR 1,200 crore) in 2023. This estate holds the title of the most expensive mansion sold in the UK that year, and rightfully so.
The palatial residence was previously owned by Russian billionaire Andrey Goncharenko, and its rich neoclassical architecture is a tribute to 19th-century European design. Set within expansive, manicured gardens, Hanover Lodge includes a swimming pool, spa, private screening room, and exquisitely decorated salons filled with antique European art and bespoke furniture. Ruia’s acquisition highlights a growing trend of Indian billionaires reclaiming elite global properties in a post-pandemic world where luxury real estate has once again become a symbol of global economic influence.
Lakshmi Mittal
Lakshmi Mittal’s Kensington Palace Gardens
A tribute to Lakshmi Mittal’s status as one of the world’s most powerful steel executives is his investment in Kensington Palace Gardens, one of the world’s most prestigious streets. Mittal owns multiple properties here, but his most iconic acquisition is the mansion at 18–19 Kensington Palace Gardens, bought for £117 million (approx. INR 1,150 crore) in 2008.
The 12-bedroom estate features marble sourced from the same quarry as the Taj Mahal, a deliberate nod to his Indian roots. In 2013, he gifted this mansion to his son, Aditya Mittal, as a wedding present.
The home includes indoor pools, Turkish baths, ballrooms, and an array of opulent chambers showcasing European and Mughal-influenced interiors. For Mittal, these residences are not just living spaces but enduring symbols of success, culture, and global standing.
Hinduja Brothers
Hinduja, one of the wealthiest families in both the UK and India, owns the majestic Carlton House Terrace in London with a net worth exceeding £37.1 billion. It’s a six-storey Georgian mansion, actually an interconnected block of four townhouses, just steps from Buckingham Palace.
Purchased in 2006, the property underwent a £50 million renovation, transforming it into a residence that marries historical grandeur with cutting-edge technology. The restoration involved conservators, artisans, and historians to preserve the building’s 19th-century charm while integrating modern luxuries like automated climate control, home theaters, and a private spa.
Gautam Singhania
Gautam Singhania’s Luxury House
Gautam Singhania, Chairman and Managing Director of the Raymond Group, is known for his taste in luxury, whether it’s bespoke fashion, rare supercars, or prime real estate. True to that reputation, his Mumbai residence is a 30-storey skyscraper located on Altamount Road, one of India’s most exclusive and expensive residential areas, often compared to London’s Billionaires’ Row.
Valued at a jaw-dropping INR 6,000 crore, it is the second most expensive private residence in India, just behind Mukesh Ambani’s Antilia. This towering mansion isn’t just a residence, it’s a vertical palace that redefines urban luxury.
Anil Ambani
As former chairman of Reliance Communications, Anil Ambani continues to live a life of grandeur reflected in his 17-storey residence in Bandra, one of Mumbai’s most coveted neighborhoods and home to many celebrities.
This newly built home, which he shares with his wife Tina Ambani, a former Bollywood actress and philanthropist, is worth possibly INR 5,000 crores, making it the third most expensive private residence in India, after Antilia and Gautam Singhania’s Altamount Road tower.
Built as a luxury high-rise, this 17-floor mansion sprawls vertically, a hallmark of Mumbai’s elite real estate culture where land is scarce but vertical space is limitless. Each floor in the Ambani residence is tailored with ultra-premium amenities, the kind you would only expect in a seven-star hotel.
Conclusion
There is a story behind every property that reveals its global reach and personal legacy. As India’s economic influence grows, so does the architectural imprint of its wealthiest citizens are creating skylines and redefining luxury across the world.
Which Indian billionaires are known for owning exceptionally luxurious homes globally?
The article highlights Mukesh Ambani, Pankaj Oswal, Adar Poonawalla, Ravi Ruia, Lakshmi Mittal, the Hinduja Brothers, Gautam Singhania, and Anil Ambani as Indian billionaires with extravagant properties worldwide.
Where are some of the key locations of these billionaires’ luxurious homes?
Their properties are located in prime areas such as Mumbai (India), Perth (Australia), London (UK) and other exclusive locations around the world.
Is Gautam Singhania’s residence as extravagant as his lifestyle?
Yes, Gautam Singhania owns JK House in Mumbai, a towering residence with multiple swimming pools, private theaters, and a unique architectural design reflecting his interests.
According to media reports, Reliance Industries (RIL), headed by Mukesh Ambani, has become a serious candidate for a sizeable share in China’s Haier’s Indian business. By enlisting a domestic strategic partner, Haier hopes to localise its consumer electronics and appliance manufacturing operations.
Similar to their rivalry in the telecom industry, the move places Reliance Industries up against a group that includes Sunil Mittal of the Bharti Group, among others.
An MG Motors-style structure, in which an Indian business becomes the single largest stakeholder, is one of the plans to dilute 25–51% of equity that Haier Appliances India, which ranks third behind LG and Samsung, has been examining. With a control premium included, it has been aiming for a valuation of $2–2.3 billion.
RIL Advisors Directly Approached Haier’s Headquarters in Quingdao
Following the issuance of non-binding offers at the start of the year, RIL entered the competition. Its advisors have gone straight to Haier’s Qingdao headquarters. According to various reports, Mittal also travelled to China a few weeks ago to meet with Haier’s top management.
It is acknowledged that the possible acquisition will be carried out through the Reliance retail division. Unlike the others, Reliance is eager to go it alone for the time being. It has been developing its own electronics brand under licensed brands like Kelvinator and BPL. Reliance established the brands Wyzr and Reconnect, both of which have had little success.
Other groups in this battle of billionaires include Goldman Sachs and the Amit Jatia family; TPG and the Burman family of Dabur; and GIC of Singapore and BK Goenka of Welspun, after initially partnering with Uday Kotak.
Bain Capital and Puneet Dalmia’s family office, which is part of the Dalmia Bharat Group, have chosen not to participate.
Chinese Firms Eager to Gain Ground in India
If Chinese corporations wish to grow, they are now more receptive to terms that require dilution of their stake in favour of Indian entities. Chinese businesses are keen to expand in India as a result of US President Donald Trump’s tariff blitz, which threatens to price their goods out of the American market.
In light of the fact that the majority of Indian companies and private equity firms have indicated that they are unlikely to remain subordinate partners in any alliance, Haier is currently investigating the possibility of diluting 45-48% of its equity to a local partner.
An additional 3-6% will be reserved for Indian employees and local distributors, while the remaining portion will be retained. Since late last year, the company has been collaborating with Citi to access private equity funds and sizable family offices.
According to media citations, the final structure is anticipated to change over the coming weeks. The original list of bidders that submitted a non-binding offer for the Haier India stake did not include Reliance. They just joined the race and have already arrived at Haier headquarters.
They are highly interested because they want to expand their own brand space in electronics, similar to what they are doing with Campa Cola in FMCG (fast-moving consumer goods).
One of the most merciless days for India’s capital markets in almost a year turned out to be April 7. The BSE Sensex plummeted 2,227 points to hit 73,137.90, and the Nifty fell 742.85 points to end at 22,161.60. Both indices shed nearly 3% around closing time. Investors are clearly worried that the intense global trade conflict between the U.S. and its trading partners could trigger a worldwide economic slowdown.
Ambani, Adani See Fortunes Shrink in Hours
Mukesh Ambani, the richest man in India and chairman of Reliance Industries, saw his net worth drop to $88.4 billion after losing a staggering $2.9 billion in one day. He lost it when the company shares sank, along with a number of others, in what appeared to be a broadly based selling job. The steepest drops among Reliance properties seemed to have occurred in the energy sector, but the company’s telecom-related holdings probably also played a part.
Right behind him, Adani Group chairman Gautam Adani saw his wealth take a hit to the tune of $2.8 billion, which brings his net worth down to $57.6 billion. Shares of several of Adani’s companies, including Adani Enterprises and Adani Ports, were among the worst hit on Dalal Street.
Not only do their losses show the market’s close in deep red, but they also reveal investors’ fears about being highly exposed to sectors like infrastructure, energy, and international trade.
Wealth Erosion Across India’s Billionaire Club
Although Ambani and Adani triggered the decline, other Indian billionaires also had their fortunes take a hit. Savitri Jindal lost $2.3 billion, Kushal Pal Singh saw a decline of $988 million, and Shiv Nadar saw a fall of $902 million. Altogether, the total wealth that has been wiped out from the top five Indian billionaires stands at $9.89 billion, according to the Forbes Real Time Billionaires index.
The major part of the Sensex closed lower, but they managed to escape only Hindustan Unilever, which closed higher. Laggards included name brand stocks we often discuss here, such as Tata Steel, Infosys, and Kotak Mahindra Bank, along with HCL Technologies. Together, those stocks account for a huge sum of money, part of what’s called the “breadth” of the stock market. And the “breadth” is that part of the stock market that was selling off yesterday.
Uncertainty Looms, but Fundamentals Remain Intact
Even though there was a selloff prompted by panic, the analysts keep urging calm. They insist India’s trade with the US, which constitutes a mere 2% of GDP, could keep the country insulated from the worst of the global tariff storm.
While known for their long-term plays, Mukesh Ambani and Gautam Adani may suffer reductions in fortune due to recent events. Yet, the foundations of their businesses seem solid. Still, if international instability persists, valuations across the spectrum, including those of India’s richest businessmen, could take another hit.
Reliance Industries Ltd. (RIL) made several acquisitions in the past three years to boost the product offerings of its subsidiaries—Reliance Jio Infocomm Ltd. and Reliance Retail Ltd., among others. RIL has put in $566 million+ in media and education, $194 million+ in retail, $1.2 billion+ in telecom and internet firms, $100 million+ in digital firms, and $391 million+ in the chemicals and energy space.
The acquisitions by Reliance Industries project RIL’s aspiration to be counted among the top 20 companies in the world. Along with refining and petrochemicals, Reliance Jio and Reliance Retail could play a part in achieving the feat. RIL’s telecom venture Jio, has helped improve its perception in terms of consumer services. A survey indicates that the perception of RIL’s consumer services has improved after the launch of Jio with 66% of users considering RIL as a more consumer-friendly brand.
Within 2 years, Reliance acquired companies such as Balaji Telefilms (TV content), EdCast (learning enabler), Embibe (ed-tech content), Saavn (music content), Radsys (5G architecture), Eros (TV content), Hathway (broadband), DEN (cable), Haptik (customer engagement), Reverie (language processing), Fynd (online shopping), Purple Panda Fashions, Clovia (intimate wear), Tesseract (AR/VR), and Grab (logistics).
Reliance Retail operates around 14,412+ stores as of December 2021. The company recently posted a profit of $720.05 million (INR 5481 crore) in FY21 on revenue that was recorded at $20.62 billion (INR 1.57 lakh crore).
The companies acquired by Reliance are working on various technologies: artificial intelligence (AI), internet of things (IoT), blockchain, online multiplayer gaming, multi-party videoconferencing, augmented reality (AR), virtual reality (VR), and mixed reality (MR). These acquisitions are an extension of RIL’s ambitions.
The following companies were fully acquired by Reliance Industries Limited, with data sourced from Tracxn:
Here’s the updated table with serial number columns:
S. No.
Acquisition Date
Name
Sector
Total Equity
Founded Year
Acquirer
Location
1
Dec 28, 2024
Karkinos Healthcare
HealthTech
$58.2M
2020
Reliance Industries
Mumbai
2
Dec 13, 2024
Navimumbaiiia
Real Estate and Construction
–
–
Reliance Industries
–
3
Sep 10, 2022
Shubhalakshmi Polyesters
Chemicals and Materials
$39.7M
2005
Reliance Industries
Mumbai
4
Sep 06, 2022
SenseHawk
High Tech
$7.45M
2016
Reliance Industries
California
5
Aug 31, 2022
Campa Cola
Food and Agriculture
–
1977
Reliance Industries
Hisar
6
Aug 31, 2022
Campa-Cola
Food and Agriculture
–
–
Reliance Industries
–
7
Aug 04, 2022
Sanmina
Semiconductors
–
1980
Reliance Industries
Mexico
8
Mar 14, 2022
Lithium Werks
Energy Tech
–
1989
Reliance Industries
Texas
9
Jan 11, 2022
Sintex Industries
Chemicals and Materials
–
1931
Reliance Industries
Gandhinagar
10
Dec 31, 2021
Faradion
Energy Tech
$10.1M
2010
Reliance Industries
United Kingdom
11
Sep 03, 2021
Strand Life Sciences
HealthTech
$34.9M
2000
Reliance Industries
Bengaluru
12
Aug 23, 2021
Milkbasket
Food and Agriculture Tech
$35.1M
2015
Reliance Industries
Gurugram
13
Jul 06, 2021
Creative Portico
Consumer Goods
$3.18M
2004
Reliance Industries
Mumbai
14
Apr 22, 2021
Stoke Park
Travel and Hospitality
–
1908
Reliance Industries
United Kingdom
15
Feb 28, 2021
skyTran
Auto Tech
$79.5M
2009
Reliance Industries
California
16
Dec 28, 2020
IMG Reliance
Business Services
–
2010
Reliance Industries
Mumbai
17
Dec 13, 2019
Asteria Aerospace
High Tech
$813K
2011
Reliance Industries
Bengaluru
18
Dec 12, 2019
NowFloats
Retail
$30.5M
2012
Reliance Industries
Hyderabad
19
Aug 02, 2019
Fynd
Retail
$16M
2012
Reliance Industries
Mumbai
20
May 08, 2019
Tesseract
High Tech
–
2015
Reliance Industries
Mumbai
21
Mar 26, 2019
John Players
Consumer
–
1983
Reliance Industries
Pennsylvania
22
Mar 26, 2019
Quasarstaging.net
Consumer
–
2021
Reliance Industries
–
23
Mar 02, 2019
Grab
Food and Agriculture Tech
$8.53M
2012
Reliance Industries
Mumbai
24
Mar 02, 2019
csquare.in
Enterprise Applications
$42K
2002
Reliance Industries
Bengaluru
25
Feb 23, 2019
EasyGov
–
$668K
2015
Reliance Industries
Gurugram
26
Feb 23, 2019
Sankhya Sutra Labs
Enterprise Applications
–
2015
Reliance Industries
Bengaluru
27
Feb 23, 2019
Reverie Language Tech
Enterprise Applications
$4.14M
2009
Reliance Industries
Bengaluru
28
Dec 31, 2018
Kanoda
Energy
$68.6K
2004
Reliance Industries
Ahmedabad
29
Nov 28, 2018
NEWJ
Media & Entertainment
–
2018
Reliance Industries
Mumbai
30
Oct 17, 2018
DEN Networks
Media & Entertainment
–
2007
Reliance Industries
Mumbai
31
Oct 17, 2018
Hathway Cable & Datacom
Telecom
–
1959
Reliance Industries
Mumbai
32
Jun 29, 2018
Radisys
Telecom
–
1987
Reliance Industries
Oregon
33
2018
Genesis Luxury
Consumer Goods
$30.5M
2008
Reliance Industries
Gurugram
34
Apr 09, 2018
Embibe
EdTech
$11.7M
2012
Reliance Industries
Bengaluru
35
May 29, 2014
Network18
–
–
1996
Reliance Industries
Mumbai
36
Jun 12, 2010
Infotel Broadband
Telecom
–
–
Reliance Industries
–
Reliance Acquisitions
Reliance Industries Acquisitions | Reliance Industries Company List
In April 2018, Reliance Industries invested $180 million in the ed-tech startup Embibe over a period of three years. The investment helped acquire a stake of 72.69 % from Embibe’s existing investors. In April 2020, Bengaluru-based startup Embibe received a funding of INR 500 crores from Reliance Industries.
Embibe, one of the Reliance acquired companies, is an education platform that utilizes data analytics to deliver personalized learning outcomes for students. It targets various segments such as K-12, higher education, professional skilling, vernacular languages, and all curriculum categories in India and abroad. Embibe uses AI stacks that focus on content intelligence and automation, behavioral recommendations, and student intelligence.
Aditi Avasthi, the founder and CEO of Embibe, continues to lead the company post-acquisition and may operate it as an independent entity as well. With Embibe’s technology, Reliance aims to connect with over 1.9 million schools and 58,000 universities across India. It believes that Embibe’s highly experienced management team will help Reliance realize its vision for the education sector.
Fynd
Startup Name
Fynd
Founded in
2012
Founders
Farooq Adam, Harsh Shah and Sreeraman MG
Stakes Owned by Reliance
87.6%
Fynd, one of the companies under Reliance Industries is a fashion e-commerce platform and was founded in 2012 by Farooq Adam, Harsh Shah, and Sreeraman MG. Fynd functions via an offline-to-online (O2O) model and directly sources products belonging to categories such as clothing, footwear, jewelry, and accessories from prominent brands to sell them in India. Fynd sources products from the outlets nearest to the customer to optimize delivery time. It has about 8,000 outlets on board for about 500 clients.
Reliance’s latest acquisition, Fynd, has an in-house product called the ‘Fynd Store’; store managers place orders on behalf of the walk-ins in case the desired product is not stocked or not available in the right size in the store. RIL acquired a majority stake (87.6%) in Shopsense Retail Technologies Pvt. Ltd. (which manages Fynd) for INR 295.25 crores ($41.9 million).
RIL also has an option to invest INR 100 crores further in Shopsense Retail Technologies by December 2021. The total investment will translate into an 87.6% stake in Fynd. The investment would strengthen the group’s ‘digital and new commerce initiatives’. Reliance has been bolstering investments and acquisitions in the tech and internet space as it prepares to launch e-commerce services by leveraging Reliance Jio Infocomm’s reach.
Grab
Startup Name
Grab
Founded in
2012
Founders
Anthony Tan and Tan Hooi Ling
Stakes Owned by Reliance
83%
In February 2019, RIL’s wholly-owned subsidiary Reliance Industrial Investments and Holdings Limited (RIIHL) acquired equity shares of Grab A Grub Services Private Limited (Grab) in a cash deal worth $14.9 million. At a later stage, the company will also invest up to $5.63 million (INR 40 crores) to complete the acquisition deal by March 2021.
With this investment, RIL will control 83% of Grab’s equity on a fully diluted basis. The investment will support Reliance Group’s digital commerce initiatives and strengthen its logistics services, catering to both B2B (business-to-business) and B2C (business-to-consumer) segments. The deal would help the company boost its e-commerce model to take on Amazon India and Flipkart.
Grab was founded in 2013 by Jignesh Patel, Nishant Vora, and Pratish Sanghvi. Grab provides services like on-demand, reverse, first, and last-mile logistics. Some of its clients include McDonalds, BigBasket, Myntra, Amazon Now, and Swiggy. Grab was backed by investors such as SIDBI Venture Capital Arm, SIDBI Venture Capital Limited (SVCL) Aramex, Zomato, and Sixth Sense Ventures.
Haptik
Startup Name
Haptik
Founded in
2013
Founders
Aakrit Vaish and Swapan Rajdev
Stakes Owned by Reliance
87%
On April 3, 2019, RIL announced that Reliance Jio Digital Services Limited acquired artificial intelligence (AI) firm Haptik for INR 700 crores (with INR 230 crores as the consideration for the initial business transfer) to compete against Google Assistant and Amazon’s Alexa. Thus, Reliance will hold about 87% of the business, with the rest being held by Haptik founders and employees through stock option grants.
Founded in 2013, Haptik is one of the world’s largest conversational AI platforms that lets customers coordinate with voice assistants to complete tasks related to online shopping, travel bookings, food delivery, and more. The company has worked with over 50 brands which include Samsung, Coca-Cola, Future Retail, KFC, Tata Group, Oyo Rooms, and the Mahindra Group. Haptik established its presence in the US in 2018 and in the UK in 2019.
With this startup acquisition, Reliance Jio is looking to leverage Haptik’s capabilities across various devices and touch-points in the consumer’s journey. Reliance said that the investment is an aid in the enhancement and expansion of Haptik’s platform with an addressable market opportunity of over 1 billion users in India.
Reverie
Startup Name
Reverie
Founded in
2009
Founders
Arvind Pani, Sachindra K Mohanty, Vivekananda Pani
Stakes Owned by Reliance
83.3%
In April 2019, RIL acquired a majority stake in Reverie for INR 190 crores ($27.3 million). It will invest another INR 77 crores (almost $10 million) by March 2021. As part of the acquisition, Reliance will hold 83.3 % equity capital in Reverie on a fully diluted basis, with a total investment of INR 267 crores likely to be completed by March 2021.
Reverie provides a voice suite (called Gopal) in 12 Indian languages like Hindi, Telugu, Tamil, Bengali, Marathi, Gujarati, Indian English, etc., which can be integrated with both chatbots and interactive voice response (IVR) solutions. Companies can then use the resulting solution to engage with non-English speaking customers.
Reverie will work towards the integration of its Indic language localization services with RIL’s digital consumer platforms. It will continue to operate independently and serve its existing clients.
On March 23, 2018, RIL announced a strategic merger of its digital music service, JioMusic, with ‘music over-the-top platform’ Saavn. RIL acquired a 75-80 % stake in the merged entity. The company said that the combined entity is valued at over $1 billion, with JioMusic’s implied valuation at $670 million and Saavn at $330 million.
RIL stated that the integrated business would be developed into a media platform of the future with global reach, cross-border original content, an independent artist marketplace, consolidated data, and one of the largest mobile advertising mediums in India.
“The investment and combination of our music assets with Saavn underline our commitment to further boost the digital ecosystem and provide unlimited digital entertainment services to consumers over a strong, uninterrupted network,” Ambani said while announcing the strategic transaction.
JioSaavn has over 200 employees and operates out of offices in California, New York, Bangalore, Gurgaon, and Mumbai. It offers about 40 million soundtracks in 15 languages and has over 900 label partnerships. Some of the partners are Universal, Sony, T-Series, Tips, YRF, Saregama, Eros, and Warner Music.
RIL made Acquisitions worth more than $3 Billion
Purple Panda Fashions (Clovia)
Startup Name
Purple Panda Fashions (Clovia)
Founded in
2013
Founders
Pankaj Vermani, Neha Kant and Suman Choudhary
Stakes Owned by Reliance
89%
Started by Pankaj Vermani, Neha Kant, and Suman Choudhary in 2013, Purple Panda Fashions, an independent company not owned by Reliance, is the manufacturer and online retailer of lingerie with its flagship brand, Clovia. Clovia, under Purple Panda Fashions, offers a wide range of quality innerwear and loungewear for women, with its categories spanning over 3500+ product styles. Please note that Purple Panda Fashions and Clovia are not affiliated with or owned by Reliance or any companies owned by Reliance.
The largest retailer in India, Reliance Retail Ventures, as updated on March 21, 2022, has acquired 89% of the stakes in Clovia, for which it has reportedly spent INR 950 crore. The deal will be a combination of primary investment and secondary stake purchase, the remaining stakes of which will be owned by the founding team and management of Clovia. This partnership with Clovia is expected to further strengthen the innerwear arm of Reliance.
Tesseract
Startup Name
Tesseract
Founded in
2015
Founders
Kshitij Marwah
Stakes Owned by Reliance
92.7%
In August 2019, Reliance acquired a 92.7% stake in Tesseract. Post the deal, the stake would be valued between INR 150 crores and INR 500 crores, a source added. Reliance also announced its mixed reality (MR) platform, Holoboard, which combines augmented reality and virtual reality. Holoboard would be the first made-in-India AR headset and will be compatible with smartphones. Interestingly, the device is developed by Tesseract.
Tesseract is a Mumbai-based VR startup founded in 2015 by Kshitij Marwah. Tesseract has launched three hardware and two software products in the MR, AR, and VR spaces. The founder claims to have seven patents: one US-registered, three international, and three India-registered patents.
Post-acquisition, Tesseract developed the Jio HoloBoard as a native mixed-reality headset for JioFiber users. While specifics about the Jio HoloBoard are yet to be revealed, Reliance Jio plans to make the headset available for purchase in the market at an extremely affordable price.
Reliance Jio bought a majority stake in Den Networks, Hathway Cable, and Datacom in October 2018. Jio acquired a 66% stake in Den Networks with a primary investment of INR 2,045 crores and a 51.3% stake in Hathway Cable & Datacom Ltd. with an initial investment of INR 2,940 crores.
DEN claims to have the ability to reach 9.7 lakh homes and has more than 106,000 broadband subscribers. Hathway Cable is owned by the Raheja Group, while Sameer Manchanda owns DEN Networks. They both are amongst the biggest players in the cable broadband market.
The investments were meant to boost the rollout of Jio GigaFiber, which is in the testing phase at the moment. It is a competitor to Bharti Airtel, BSNL, and other broadband providers in India. Reliance Jio also has RCom’s wireless infrastructure assets to consolidate its telecom presence.
Hamleys
Startup Name
Hamleys
Founded in
1760
Founders
William Hamley
Stakes Owned by Reliance
100%
Reliance Industries completed the acquisition of British toy retailer Hamleys for about INR 620 crores (GBP 67.96 million) in an all-cash deal in July 2019 when Reliance Brands signed an agreement to acquire a 100% stake in Hamleys Global Holdings from Hong Kong-based C.banner International.
RIL stated that Reliance Brands completed the acquisition of a 100 % stake in Hamleys Global Holdings (HGHL) through a special-purpose vehicle company set up in the United Kingdom. This acquisition will help Reliance Brands become a dominant player in the global toy retail industry.
Hamleys was founded by William Hamley in London in 1760. It is one of the world’s oldest retailers of toys and has changed hands several times. Hamleys has 167 stores across 18 countries. In India, Reliance Retail had the master franchise for the brand and operated 88 stores across 29 cities.
Netmeds
Startup Name
Netmeds
Founded in
2015
Founders
Pradeep Dadha
Stakes Owned by Reliance
–
On August 19, 2020, Reliance Industries Ltd. acquired a majority stake in online pharmacy Netmeds for about $83 million (INR. 620 crores) in cash, days after e-commerce giant Amazon.com Inc launched an online drug sales service in India.
The investment represents a 60% holding in the equity share capital of Vitalic Health and 100% direct equity ownership of its subsidiaries: Tresara Health Private Limited, Netmeds Market Place Limited, and Dadha Pharma Distribution Pvt. Limited.
According to Reliance, Netmeds would enhance Reliance Retail’s ability to provide affordable and extensive healthcare products and services.
“This investment is aligned with our commitment to provide digital access for everyone in India,” said Isha Ambani, Director, RRVL
Netmeds is one of the top online pharmacies in India that deals with a wide range of healthcare products like high-quality prescription medicines, over-the-counter pharmaceuticals, general healthcare products, Ayurvedic medicines, and homeopathic medicines. It has delivery facilities across India. It is a subsidiary of Dadha & Company, one of India’s most trusted pharmacy brands with over 100 years of experience in dispensing quality medicines. Pradeep Dadha founded the company in 2010, and it is headquartered in Chennai, Tamil Nadu.
In December of 2019, RIL-owned subsidiary Reliance Strategic Business Ventures Ltd (RSBVL) acquired a 51.78% stake in robotics and artificial intelligence company Asteria Aerospace Pvt. Ltd. for INR 23.12 crores. Asteria develops drone-based solutions to provide intelligence from aerial data for military use and industrial applications.
NowFloats Technologies
Startup Name
NowFloats Technologies
Founded in
2012
Founders
Jasminder Singh Gulati
Stakes Owned by Reliance
85%
In December 2019, RSBVL also acquired an 85% stake in NowFloats Technologies Pvt. Ltd. for INR 141.63 crores with a proposal to make further investments of up to INR 75 crores. Nowfloats offers SaaS solutions to small and medium enterprises (SMEs) to build a digital presence. The investment will further enable Reliance Group’s digital and new commerce initiatives.
Radisys
Startup Name
Radisys
Founded in
1987
Founders
Glenford Myers
Stakes Owned by Reliance
100%
RIL also acquired open telecom solution provider Radisys in June 2020 for $74 million (INR 511 crores). The deal majorly focused on enhancing Reliance Jio’s presence in the areas of 5G, Internet of Things (IoT), and open-source architecture adoption.
In addition to these acquisitions, RIL specifically made deals to amplify the occupancy of Reliance Jio by acquiring software companies, namely Surajya Services (EasyGov) and SankhyaSutra. Surajya Services (EasyGov) is a data solution company that is known for its EasyGov online portal, which details government schemes and services to citizens. SankhyaSutra Labs offers high-performance computing software simulation services.
RIL also invested in the entertainment industry. It acquired a 24.9% stake in film and television production house Balaji Telefilms Ltd., the parent company of ALTBalaji, in a deal worth INR 413.28 crores. The stake purchase will give Reliance Jio Infocomm Ltd. access to the content generated by Balaji Telefilms. RIL also acquired a 5% stake in the film entertainment company Eros International for $48.75 million. Given the massive demand for online video content, a stake in Eros International and ALTBalaji would allow Jio to entice customers who are in dire need of high-speed internet on smartphones.
Urban Ladder
Startup Name
Urban Ladder
Founded in
2012
Founders
Ashish Goel, Rajiv Srivatsa
Stakes Owned by Reliance
96%
Reliance Retail bought a 96% stake in Urban Ladder for over INR 182 crore in November 2020. The omnichannel furniture and decor retailer is based out of Bengaluru, has more than 3 stores in Bangalore, and boasts of distributing its products across 75+ cities.
JustDial
Startup Name
JustDial
Founded in
1996
Founders
V.S.S. Mani
Stakes Owned by Reliance
40.95%
JustDial, one of the Reliance invested companies is a local search services platform, one of the oldest and iconic players in the Indian local search services space. Just Dial boasts of having more than 30 million enterprise listings across web, app and voice platforms.
The RIL arm, Reliance Retail Ventures, acquired 40.95% stakes in Just Dial on June 17, 2021, in an all-cash deal worth INR 5,710 crore. According to the reports of the deal, Reliance subscribed to the preferential shares and bought some shares from its main promoter, VSS Mani, and his family for INR 3,497 crore. The acquisition of Just Dial not only dwarfed Reliance’s other acquisitions, such as its Netmeds and that of Hamleys, but it is still standing as one of the largest acquisitions that the country has seen so far.
Milkbasket
Startup Name
Milkbasket
Founded in
2015
Founders
Anant Goel, Ashish Goel, Anurag Jain, and Yatish Talvadia
Stakes Owned by Reliance
96.49%
India’s first subscription-based micro-delivery service, Milkbasket, was founded in 2015 by Anant Goel, Ashish Goel, Anurag Jain, and Yatish Talvadia. The delivery service platform was founded with the aim to deliver daily groceries, milk, and other everyday essentials.
Reliance Retail Ventures acquired Milkbasket by acquiring 96.49% stakes in the company, announced Milkbasket while announcing its Q2 FY22 financial results. The deal is pegged at $40 Mn, as per the reports dated October 23, 2021.
Zivame
Startup Name
Zivame
Founded in
2011
Founders
Richa Kar
Stakes Owned by Reliance
15%
The subsidiary of Reliance Industries, Reliance Brands, one of the numerous Reliance Industries subsidiaries, has bought 15% of the stakes in Zivame, the most trusted store for women’s undergarments. Reliance had acquired a minority stake in the leading online lingerie brand in July 2020 and had also mentioned that it would buy out Zivame sometime soon and could also pay close to INR 1,200 to materialize the deal.
Dunzo
Startup Name
Dunzo
Founded in
2014
Founders
Kabeer Biswas, Ankur Agarwal, Dalvir Suri, Mukund Jha
Stakes Owned by Reliance
25%
Dunzo is a popular delivery service platform from Bangalore. Founded in July 2014 by Kabeer Biswas, Ankur Agarwal, Dalvir Suri, and Mukund Jha, Dunzo is a 24×7 operating app that operates in 8+ Indian cities.
Reliance Retail acquired 25.8% stakes in Dunzo on January 6, 2022, in a deal where Dunzo raised $240 mn worth of funds from the mammoth conglomerate.
Reliance Retail Ventures Ltd. has acquired Shri Kannan Departmental Store, a 20+ years old retail brand, for INR 152.5 crore. The company operates 29+ stores in and around Coimbatore, specializing in fruits, vegetables, dairy, and essentials. This acquisition is part of Reliance’s expansion strategy in the retail sector, adding Shri Kannan to its list of acquired companies.
Jaisuryas
Startup Name
Jaisuryas
Founded in
1989
Founders
Shivaji Siddharth
Stakes Owned by Reliance
–
Jaisuryas is a leading regional grocery chain that operates in the Southern part of India. Reliance Industries acquired Jaisuryas in an undisclosed deal.
Kalanikethan
Startup Name
Kalanikethan
Founded in
1976
Founders
Shri V. Venkateswara Rao and Mitul Parekh
Stakes Owned by Reliance
–
Kalanikethan is a leading retailer of sarees and ethnic wear that operates in many cities in South India. Kalanikethan is another startup that currently stands acquired by Reliance to fill up the gaps in some of the smaller markets in the south of the country.
Abraham & Thakore
Startup Name
Abraham & Thakore
Founded in
1992
Founders
David Abraham, Rakesh Thakore and Kevin Nigli
Stakes Owned by Reliance
–
David Abraham and Rakesh Thakore launched Abraham & Thakore in 1992, which was soon joined by Kevin Nigli. Abraham & Thakore is rooted in the fashion industry, which believes in making weaving and design unconventional and appealing to the masses!
Reliance Retail Ventures acquired a majority stake in Abraham & Thakore on March 2, 2022.
Ritu Kumar
Startup Name
Ritu Kumar
Founded in
2002
Founders
Ritu Kumar
Stakes Owned by Reliance
52%
Reliance Industries had already acquired Manish Malhotra, after which it acquired Ritu Kumar, which is another major acquisition in the fashion industry. The MNC conglomerate giant owned a whopping 52% stake in Ritika Pvt Ltd., the parent of Ritu Kumar, Label Ritu Kumar, RI Ritu Kumar, aarké, and Ritu Kumar Home and Living, which is India’s oldest fashion house on October 15, 2021.
Manish Malhotra
Startup Name
Manish Malhotra
Founded in
2005
Founders
Manish Malhotra
Stakes Owned by Reliance
40%
Manish Malhotra, the eponymous brand of the celebrated Indian fashion designer, couturier, costume stylist, entrepreneur, filmmaker, and revivalist based in Mumbai, India, is a rage in the Indian fashion market as well. The Manish Malhotra brand, which has been led by none other than Manish Malhotra, has been acquired by Reliance Brands, which is a subsidiary of Reliance Industries, where the Mukesh Ambani-led brand picked up 40% of stakes, as per reports dated October 16, 2021.
AK-OK
Startup Name
AK-OK
Founded in
–
Founders
Anamika Khanna
Stakes Owned by Reliance
60%
Anamika Khanna is a famous Indian couturier who has successfully blended traditional Indian textiles and techniques with Western silhouettes and tailoring. The celebrity Indian fashion designer runs her eponymous brand AK-OK, a majority stake (60%) of which has been acquired by Reliance Brands in December 2021, which is believed to be a 60:40 joint venture.
Genesis Colors
Startup Name
Genesis Colors
Founded in
1998
Founders
Sanjay Kapoor, Jyoti Narula and Puneet Nanda
Stakes Owned by Reliance
29.07%
Reliance acquired 16.31% worth of stakes in Genesis Colors. Reliance Retail Ventures Ltd (RRVL), a subsidiary of Reliance, has materialised the deal for INR 34.80 crore on September 10, 2018. The Mukesh-Ambani-led company further acquired 9.44% stakes in the same company on February 8, 2019. Reliance has stood as an owner of 29.07% stakes of Genesis Colors, the holding company of reputed Indian fashion brands – Satya Paul and Bwitch.
Future101 Design
Startup Name
Future101 Design
Founded in
2013
Founders
Satinder Singh Kataria
Stakes Owned by Reliance
15%
Around the same time when Reliance extended its stakes in Genesis Colors, the company also acquired an additional 2.5% stake in Future101, thereby becoming an owner of 15% of the company’s stakes on February 8, 2019. The Gurgaon-based fashion brand designs and manufactures apparel, including hand-crafted breeches, suits, jackets, skirts, pants, sarees, and more.
Addverb Technologies
Startup Name
Addverb Technologies
Founded in
2016
Founders
Sangeet Kumar, Prateek Jain, Bir Singh, Satish Kumar Shukla and Amit Kumar
Stakes Owned by Reliance
55%
Addverb Technologies is a robotics firm founded in June 2016 by Sangeet Kumar, Prateek Jain, Bir Singh, Satish Kumar Shukla, and Amit Kumar, which offers product 4 verticals — robotics, automated storage, and retrieval systems, picking, and software. Reliance acquired majority stakes (55%) in Addverb Technologies in January 2022 for $132 mn.
How Big is Reliance?
Portico
Startup Name
Portico
Founded in
2005
Founders
Arun Bhawsingka
Stakes Owned by Reliance
37.7%
Owned by Creative Group, Portico is a home fashion brand that is fast emerging. Reliance acquired a minority stake in Portico and has approached the same for a majority stake in the same, as per the reports dated July 2021.
Reliance has picked up a minority stake in Portico and has already announced buying a majority stake (37.7% stake) in the home fashion brand, as of the reports dated July 6, 2021.
Amante
Startup Name
Amante
Founded in
2007
Founders
Ajay Amalean
Stakes Owned by Reliance
100%
Reliance has announced acquiring 100% stakes in the Amante brand from MAS, as per the joint statement issued by the two companies. Founded in October 2007, Amante is a part of MAS Brands, a subsidiary of MAS Holdings.
Rahul Mishra
Startup Name
Rahul Mishra
Founded in
2005
Founders
Rahul Mishra
Stakes Owned by Reliance
60%
Rahul Mishra, the acclaimed Indian designer recognized as the first to showcase at Paris Haute Couture Week, entered into a strategic partnership with Reliance, a conglomerate with various reliance-owned companies, on January 31, 2022. The collaboration takes the form of a 60:40 joint venture with Reliance Brands Limited, a subsidiary of Reliance that oversees several reliance owned companies, currently holding a majority stake of 60% in Rahul Mishra’s firm. This alliance signifies a significant move in the fashion industry, combining the innovative design prowess of Rahul Mishra with the strategic support of Reliance.
Lithium Werks
Startup Name
Lithium Werks
Founded in
2017
Founders
T. Joseph Fisher III, Christian F. P. Ringvold
Stakes Owned By Reliance
100%
All of Lithium Werks’ assets were acquired by Reliance New Energy, a wholly-owned subsidiary of RIL, in a deal that is valued at $61 million, as per the reports dated March 16, 2022.
Lithium Werks is a cobalt-free lithium technology and manufacturing company. The Texas headquartered company is a well-known producer of cobalt-free and high-performance lithium iron phosphate batteries. The assets that Reliance has acquired include an annual production capacity of around 200 MWh, including coating, cell and custom module manufacturing capability, 219 patents that also have the exclusive rights of superior LFP nano-technology, cell design, proprietary carbo-thermal reduction manufacturing method, and many other cutting-edge electroactive materials. This acquisition further inches Indian billionaire Mukesh Ambani close to his dream of building the largest renewable energy ecosystem in India. Ambani has reportedly committed to investing close to $10 billion in sustainable energy initiatives throughout a period of 3 years.
C-Square Info-Solutions
Startup Name
C-Square Info-Solutions
Founded in
2002
Founders
Sajith Thatalath and Sripal Bachawat
Stakes Owned By Reliance
82%
In 2019, Reliance Industries purchased an 82% stake in C-Square Info-Solutions – a software company located in Bangalore that specializes in enterprise resource planning and analytics for the pharmaceutical industry. The acquisition was a strategic investment with the goal of enhancing Reliance’s digital commerce initiatives and logistics services by utilizing C-Square’s domain expertise within the pharma sector.
Mesindus Ventures Private Limited – Qalara
Startup Name
Mesindus Ventures Private Limited – Qalara
Founded in
2019
Founders
Aditi Pany
Stakes Owned By Reliance
–
In 2020, Reliance Industries acquired a majority stake in Mesindus Ventures Private Limited, which is the parent company of SaaS start-up Qalara. Mesindus Ventures was founded in 2019 and provides an AI-powered customer data and analytics platform for brands. Reliance’s investment has enabled Qalara to expedite product development and expand its customer base. Qalara has been operating independently while benefiting from Reliance’s resources and partnerships since becoming a subsidiary. The acquisition is in line with Reliance’s strategy of investing in digital, AI, and SaaS start-ups to strengthen its technology services offering.
Plastic Legno SPA
Startup Name
Plastic Legno SPA
Founded in
2009 (India)
Founders
Sunino Group
Stakes Owned By Reliance
40%
In June 2022, Reliance Brands Limited (RBL) announced a joint venture with Plastic Legno SPA to acquire a 40% stake in the Indian toy manufacturing business of the Italian toy maker. Plastic Legno SPA is owned by the Sunino group, which has over 25 years of experience in toy production in Europe. The group began its India operations in 2009 to establish a robust production hub to cater to global markets and the rapidly growing Indian market.
Reliance Brands has a strong presence in the Indian toy industry with Hamleys, the British toy retailer, and a homegrown brand.
Gap
Startup Name
Gap
Founded in
1969
Founders
Don and Doris Fisher
Stakes Owned By Reliance
–
Gap Inc. has partnered with Reliance Retail Limited, India’s largest retailer, to bring Gap to India. Reliance Retail will be the official retailer for Gap across all channels in India. The latest fashion offerings from Gap will be available through a mix of stores and digital platforms. The partnership will leverage Gap’s position as a leading casual lifestyle brand and Reliance Retail’s expertise in operating retail networks and driving sourcing efficiencies. Gap was founded in San Francisco in 1969 and is known for its denim heritage.
Conclusion
Reliance Jio and other Reliance Industries subsidiaries are likely to continue the acquisition trend to retain leadership in the market. However, the results of the acquisitions are yet to be realized from an end user’s perspective.
FAQs
Which are Reliance clothing brands in India?
Reliance Retail is India’s largest retailer, offering a diverse range of products including grocery, consumer electronics, fashion, and lifestyle. They operate several clothing brands, such as Reliance Trends, AJIO, and more, and distribute international brands through Reliance Brands.
Which are the companies acquired by Reliance?
Reliance has acquired companies across sectors like telecom, retail, media & entertainment including Network18, Infotel Broadband, C-Square Info-Solutions and Marki Consulting & Solutions. Through these acquisitions, Reliance has expanded into new business areas and consolidated its position.
Which are the Reliance Industries subsidiaries?
Reliance has numerous subsidiaries across sectors like petrochemicals, oil and gas, telecom, retail and media. Key subsidiaries are Reliance Jio, Reliance Retail, Network18, Reliance Life Sciences, Reliance Clothing brands and Jio Platforms. These subsidiaries operate independently while leveraging synergies with Reliance.
Which are the companies owned by Reliance Industries?
Reliance owns subsidiaries across sectors including Jio Platforms, Reliance Retail, Network18, Den Networks, and Hathway Cable in media and telecom. It also wholly owns petrochemicals subsidiaries like Reliance Industries, Reliance Petroleum and Jamnagar refineries. Reliance continues to build its portfolio through acquisitions.
Reliance bought which company recently?
Reliance acquired Karkinos Healthcare on December 28, 2024.
Nearly five years after the fast-fashion giant’s app was blocked in India due to rising diplomatic tensions between India and its neighbour, China, Isha and Mukesh Ambani’s Reliance Retail has successfully reintroduced Shein in India. Shein has returned to one of Asia’s biggest retail markets with the recently released Shein India Fast Fashion app, which was created under a license agreement with Reliance.
Reliance’s control over operations and data, with all consumer information retained in India, is one of the strict requirements attached to this agreement. The action also represents a change of strategy for Reliance, which aims to expand its online presence by providing Shein’s well-liked, reasonably priced clothing on a completely localised platform.
Nearly five years after its app was banned in India due to diplomatic concerns between China and India, Reliance Retail has formally restored its presence in the country by launching a new app to sell fashionwear from China’s Shein. According to sources, the app, Shein India Fast Fashion, was secretly released on Saturday morning; however, Reliance has not yet released an official statement.
Why Shien is Riding on Reliance’s Back?
Founded in 2012 in China and currently based in Singapore, Shein gained popularity for selling stylish yet reasonably priced Western clothing. It suffered a blow in 2020, though, when India blocked Shein and other Chinese apps like TikTok due to national security concerns in the midst of escalating border issues between the two nations. As a result, customers could no longer access the site, which had been very popular in India.
Shein is currently reviving in India despite the setback thanks to a license agreement with billionaire Mukesh Ambani‘s Reliance Retail. Reliance will pay a licensing fee to use the Shein brand name as part of this partnership, but no equity investment will be made.
The transaction marks a substantial departure from Reliance’s typical approach, even if the company has not yet made the financial details public. With the new agreement, Shein will have a dedicated platform for Indian consumers instead of just adding foreign brands to its existing Ajio fashion app, where it presently sells brands like Superdry and Gap.
Shein’s return is significant since the business will be operating under strict guidelines. Shein will only serve as a technological partner, while Reliance will maintain exclusive control over the platform and its operations. The fact that all client data would be kept locally in India and that Shein will not have access to it is a key requirement of this relationship.
This action supports the Indian government’s initiatives to preserve sensitive consumer data and uphold data sovereignty. To guarantee adherence to India’s stringent data standards, Shein will also need to submit to routine security audits conducted by cybersecurity companies that have been approved by the government.
What New Shein India App Will Offer
Dresses for as little as 199 rupees (about $2.30) are among the many affordable fashion items available on the new Shein India app. Customers will first be able to use the app in a few cities, including Bengaluru, Mumbai, and New Delhi, with hopes to quickly expand to more areas. One of the app’s noteworthy characteristics is that, in keeping with India’s efforts to strengthen its domestic textile sector, all Shein-branded products offered through the platform would be created and produced locally by Indian producers.
Why It’s a Win-Win Deal for Both Reliance and Shein?
Reliance’s decision to relaunch Shein in India is a component of a larger plan to bolster its online presence and subvert the dominance of competitors like Flipkart, Amazon, and Meesho, particularly in the fiercely competitive fashion e-commerce market. Even though it has the biggest retail chain in the nation, Reliance has had difficulty breaking through in the online retail space. With the recent introduction of quick delivery options like same-day delivery under 30 minutes for some orders on its Myntra platform, Flipkart in particular has been a formidable rival in the fashion e-commerce market.
As it gets ready for a possible public listing, this partnership offers Shein a calculated chance to re-enter one of Asia’s biggest and fastest-growing retail sectors. Following its unsuccessful bid to list in the United States due to lawmakers’ concerns about China’s rules that companies seek government approval before listing overseas, the platform has been preparing to go public in London later this year.
Over 300 platforms have been impacted by India’s continuous prohibition on Chinese applications since 2020; this cooperation is a rare exception. Several Indian government agencies, including IT and Home Affairs, conducted a thorough screening procedure before approving Shein’s return, paying particular emphasis to making sure Shein complied with the country’s strict cybersecurity and data protection regulations. The alliance intends to support the expansion of India’s textile manufacturing industry while protecting data privacy and national security objectives, according to Commerce Minister Piyush Goyal.
All things considered, Shein’s return to India under the Reliance collaboration marks a dramatic change in the fast-fashion sector in India and not only a win for Shein but also for the changing nature of global trade in the area. Shein’s affordable products, along with Reliance’s wide distribution and domestic production, have the potential to upend the competitive environment as the company continues to establish itself in the Indian retail sector, especially in the online fashion retail space.
