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Tag: Mukesh Ambani

  • Reasons Why SEBI Imposed 25 crore penalty on Mukesh Ambani, Anil Ambani, others

    There was a recent news headlines which said SEBI has slapped INR 25 crore fine on Ambani’s due to the 2000 case over the allegation of violation of the takeover code regulations. Let’s look at the below article to get a clear understanding about the regulation and the reason for imposing the fine.

    Substantial Acquisitions of Shares and Takeovers (SAST) Regulations 1997
    What Happened with the Ambani family?
    Adjudication Order and SEBI
    Fine To be Paid by Ambani Family
    SEBI and Ambani
    FAQ

    Substantial Acquisitions of Shares and Takeovers (SAST) Regulations 1997

    According to the Substantial Acquisitions of Shares and Takeovers (SAST) Regulations 1997, If a company’s promoter group acquires more than 5% of the voting rights in the company, during a financial year. Then the company will have to make an open offer to the minority investors which will give them an option to exit the company if required.

    What Happened with the Ambani family?

    SEBI has fined the Ambani family which include Mukesh Ambani, Nita Ambani, Anil Ambani, Tina Ambani and the various other firms linked to the Ambani group. It is because they have been alleged for violation of the takeover code regulations in 2000.

    The case is because of the increase in the promoter stake of the Reliance Industries Ltd. (RIL) which is during January 2000. The promoter stake in the company was increased after the conversion of various warrants which was issues during 1994.

    In January 2000, the promoter stake of Reliance Industries Ltd (RIL) had increased to 6.83% from the maximum limit of 5% according to SEBI. Securities Exchange Board of India has even alleged that the company or the promoter group had failed to make an offer to the minority investors providing them an opportunity to exit the company.

    SEBI has said that the promoter group of Reliance Industries Ltd had failed to make an open offer as required under the norms issued.

    SEBI has said that in the instant case the violation was not just committed for a particular year or once and for all but it continues till date, that is even now the promoters of Reliance Industries have the majority voting rights in the company.

    Total debt of Reliance Jio Infocomm Limited from financial year 2017 to 2020
    Total debt of Reliance Jio Infocomm Limited 

    List of Major Subsidiaries of Reliance Industries | Reliance Owned Companies
    Reliance Industries Limited is an Indian multinational conglomerate company thatis headquartered in Mumbai, India. Reliance owns businesses across India engagedin energy, petrochemicals, textiles, natural resources, retail, andtelecommunications. Reliance is one of the most profitable and the lar…
    StartupTalkyPV Vyshnavi

    Adjudication Order and SEBI

    In an 85-page adjudication order it was written that the violation of the statutory provisions by which the acquisitions of securities giving the notices that is the Ambani family has provided enhanced control by the exercise of voting rights, etc.

    Which is a disobedience against the regulation and these are violations which are being continued so long as the voting rights are acquired by violating the letter and the spirit of the law.

    SEBI has said that the notices have been alleged because they have been failed to make a public announcement, when they were acquiring more shares of the company to increase the promoter holdings. This has led the other shareholders to be deprived of their statutory rights and opportunity to exit from the target company.

    This has led the promoter group of Reliance Industries Ltd to breach the provisions of Substantial Acquisitions of Shares and Takeovers (SAST) Regulations 1997. All these charges against the notices will make the instant matter grave.

    The SEBI order has said that it has been difficult to ascertain the value of the unfair advantage made by RIL promoter group due to this violation.

    SEBI had said that while determining the amount of penalty they have not found any amount which can be expressed as figures or any data which can be used to record the gain received by the promoter group because of this violation and the amount of loss which has been caused to the minority shareholders in the company as a result of the default that was committed.

    Mukesh Ambani’s Reliance Industries is offering to sell a roughly $20 billion stake to Amazon.com
    Indian billionaire Mukesh Ambani’s Reliance Industries Ltd. is offering to sella roughly $20 billion stake in its retail business to Amazon.com Inc., accordingto a person with knowledge of the matter. Mukesh Ambani, which has alreadyraised $20 billion in this year from investors including Faceboo…
    StartupTalkyArbaz Sayed

    Fine To be Paid by Ambani Family

    Under Section 15H of the SEBI Act which was amended in October 2002, a maximum penalty of INR 25 crore or three times the number of profits made out of the failure is allowed.

    The Regulator has said that the penalty of INR 25 crore will have to be paid together by the 34 individuals who are named in the SEBI order which includes the mother of Mukesh Ambani and Anil Ambani and even the children of Mukesh Ambani and Anil Ambani. The amount is said to be paid within 45 days.

    SEBI and Ambani

    In November 2020, in reply to the regulator SEBI said the Ambani family that the issue of warrants and the issue of shares on conversion of warrants were not to subject to SEBI’s Substantial Acquisitions of Shares and Takeovers (SAST) Regulations 1997.

    The Reliance promoter group had responded to SEBI saying that the initiation of the adjudication proceedings in the particular case with a large misappropriate delay was unreasonable, arbitrary and causes substantial prejudice to the notices.

    FAQ

    What is the number of Mukesh Ambani in world richest person?

    Reliance Industries (RIL) Chairman Mukesh Ambani is the eighth richest person in the world with a fortune of $83 billion, according to the Hurun Global Rich List 2021.

    Who is the CEO of Jio?

    Atul Kansal is the current CEO of Jio.

    How much did Ambani earn in lockdown?

    According to the Oxfam report, Ambani earned Rs 90 crore per hour during the coronavirus pandemic.

    Conclusion

    The market regulator had issued the show cause notices (SCN) regarding this matter in February 2011. That is almost 11 years after the allegation of violation.

  • Why did Yes bank took over Reliance Centre headquarters for 1200 Crores

    There was a recent news where the headquarters of Reliance ADAG group which was headed by Anil Ambani, the Reliance Center, Santacruz, Mumbai was sold to Yes Bank for INR 1,200 crores. Let’s look at the reason and the details for the sale of Reliance’s headquarters.

    What is Reliance Infrastructure
    What is Reliance Centre
    Why did Yes bank took over Reliance Centre
    Sale of the Reliance Centre
    FAQ

    What is Reliance Infrastructure

    Reliance Infrastructure is a Indian-based private sector company. The company was involved in power generation, infrastructure defense, and construction. The company is part of the Reliance Anil Dhirubhai Ambani group.

    The company has undertaken a lot of projects which include power plants, metro rails, airports, toll roads, bridges, and defense. The company has a major shareholding in Reliance Power and Reliance Naval and Engineering Limited.

    Reliance Infrastructure was ranked as the 51st largest corporation in Fortune India’s 500 lists of 2019 and it had the 1st rank in the category of Infrastructure Development.

    Reliance Infrastructure came into existence when it took over an eighty three year old company which was undertaken by the Government which was known as Bombay Suburban Electric Supply (BSES) in the year 2002.

    Reliance Infrastructure was formerly known as Reliance Energy Limited.

    Reliance Industries Limited Success Story [Case Study]
    Reliance Industries Limited (RIL) is an Indian organization headquartered inMumbai, India. Reliance has its entities across domains like vitality,petrochemicals, materials, common assets, retail, and broadcast communications.Reliance is one of the most prominent businesses in India, the biggest ”…
    StartupTalkyDevashish Shrivastava

    What is Reliance Centre

    Reliance Infrastructure which is part of Anil Ambani’s group has sold its headquarters to Yes Bank. The amount of the sales is expected to be INR 1,200 crores. The headquarters is located in Mumbai’s Santacruz.

    Reliance Center is a building with high technology office. The building has an area of 695,000 square feet on a plot of 15,514 square meters of land. Anil Ambani had shifted to this office after he had moved out of Reliance’s Ballard Estate Office.

    The experts in the field of Real Estate have that the office has a prime location because the Reliance Center is close to Mumbai’s Western Express Highway.

    Other than this, the office just has a 15-minute drive to Chhatrapati Shivaji International Airport Terminal that is T2 and a 10-minute drive to the Chhatrapati International Airport Domestic Terminal that is T1. The building is a stone’s throw from the Bandra-Kurla Complex business district in Mumbai.

    Total Revenue of Reliance Infrastructure Ltd
    Total Revenue of Reliance Infrastructure Ltd

    Why did Yes bank took over Reliance Centre

    Reliance’s ADAG group which is headed by Anil Ambani is expected to have an exposure of INR 4,000 crores which it has to pay to Yes Bank. Last year, Yes bank had said that last year it had issued a demand notice to the ADAG group to pay the borrowed amount of INR 2,892 crores.

    The demand notice was sent under the SARFAESI ( Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest) Act. The dues had to be paid back by 60 days from the issue of the demand notice.

    Reliance’s ADAG group had failed to pay the dues on time and Yes bank had announced that it was going to take the possession of the building due to non-payment of loans which amounted to INR 2,892 crores.

    It is said that Yes bank had taken possession of the building looking at the Mumbai Airport. With this project, the Reliance Infrastructure has closed 3 different transactions which include the sale of assets. These transactions had taken place in the last 90 days.

    Mukesh Ambani’s Reliance Industries is offering to sell a roughly $20 billion stake to Amazon.com
    Indian billionaire Mukesh Ambani’s Reliance Industries Ltd. is offering to sella roughly $20 billion stake in its retail business to Amazon.com Inc., accordingto a person with knowledge of the matter. Mukesh Ambani, which has alreadyraised $20 billion in this year from investors including Faceboo…
    StartupTalkyArbaz Sayed

    Sale of the Reliance Centre

    Recently Reliance Infrastructure and Yes Bank announced that they were getting in to a sale transaction where the Reliance Centre, Santacruz, Mumbai will be sold to Yes Bank. Yes Bank which currently operates its business from One Indiabulls center in Central Mumbai is planning to convert the Santacruz office to its Corporate Head Office.

    An official from the company has said that with the sale of Reliance Center, Santacruz, Mumbai Reliance Infrastructure’s debt exposure to YES Bank has been reduced. The debt exposure of INR 2,000 crores from INR 4,000 crores has been reduced.

    FAQ

    What is the net worth of Anil Ambani in 2020?

    As per the reports declared before a UK court in February 2020 that his net worth is zero and he is bankrupt.

    What does Anil Ambani owns?

    Reliance Infrastructure which is an Private Sector Enterprise managing power, defense, construction and infrastructure and Reliance Power.

    How many companies Mukesh Ambani have?

    Mukesh Ambani has 7 companies that are, Reliance Retail, Reliance Life Sciences, Reliance Jio Infocomm Limited, Reliance Petroleum, Network 18, Reliance Industrial Infrastructure Limited, and Football Sports Development Limited.

    Conclusion

    Yes Bank has said that the value of the transaction of the building is expected to be INR 1,200 crores and the entire amount from the sale of Reliance Center, Santacruz, Mumbai is utilized only to pay the debt it owes to Yes Bank. The company official has said that the company is planning to be a debt-free company within 2021.

  • Jio to soon Enter Laptop Industry with its Reliance Jio Laptop – Jiobook

    Jio is the largest telecom operator in India and is the third-largest operator in the world. During the year 2020, the company had raised an amount of INR 1,52,056 crores by selling their stake of around 32.97%. This helped the company in coming up with new products and making the services affordable to the consumers.

    The company is said to launch its new product JioBook. After years of speculation, it is believed that the product is in the Engineering Validation test stage.

    What is JioBook
    Specs of JioBook laptop
    Reason for Launch
    FAQ

    What is JioBook

    JioBook is a laptop going to be launched by Reliance Jio. Just like any other product of Jio, this laptop is said to be affordable and would attract a lot of customers. As per the speculations the price of the laptop would start from INR 10,000 onwards.

    In order to make affordable JioBook laptops in India, the company had partnered with Bluebank Communication Technology which is based in China. Bluebank Communication technology is a well-known software company that develops software for third parties and creates mobile devices. Bluebank has also worked in developing the popular OS used on Jio Phones which is known as KaiOS.

    The news of Jio launching the laptop came out in 2018, when Qualcomm announced that it was in talks with Reliance Jio to launch laptops in India that are affordable with cellular connectivity. After that, there were lot of speculations about the launch of the laptop. After years of wait, Jio finally announced that they will be launching their laptops soon in the market.

    It has also been said that the price range of the JioBook laptop would differ according to their storage options and different models.

    List of Major Subsidiaries of Reliance Industries | Reliance Owned Companies
    Reliance Industries Limited is an Indian multinational conglomerate company thatis headquartered in Mumbai, India. Reliance owns businesses across India engagedin energy, petrochemicals, textiles, natural resources, retail, andtelecommunications. Reliance is one of the most profitable and the lar…
    StartupTalkyPV Vyshnavi

    Specs of JioBook laptop

    According to the reports JioBook laptop is expected to be an android based laptop  by XDA developers. The android operating system UI will be called JioOS. The laptop will run on a Qualcomm Snapdragon 665 chipset with the support of Snapdragon X12.

    JioBook laptop is said to support 4G LTE and would have a display of 720P HD. The laptop is said to have a screen resolution of 1366 x 768. It will run on the JioOS.

    The JioBook laptop would come with a storage facility of 32/64 GB with an eMMC (embedded Multi-Media Card) 5.1 memory. It is an internal storage card used in portable devices. Apart from all these features, the laptop would have features that include Bluetooth, Wi-Fi 2.4 and 5 GHz connectivity, and so on.

    The laptop will come with all Jio-apps installed to ensure that JioBook is affordable to consumers.

    Jio’s Journey Towards Dominating The Data Market
    Reliance Jio has fulfilled its dream of taking over the data market and the 4Gspace in India. From December 2015 up to 2020 the marketing and growthstrategies employed by Jio have enabled this company to emerge with giant likeproportions and establish itself as a leader in Indian telecom space. B…
    StartupTalkyPV Vyshnavi

    Why Jio is launching Jiobook

    JioBook laptops would be the most affordable laptop ever introduced in the country. Earlier Jio had introduced JioPhones which disrupted the entire industry. Since the launch of Jio sim in 2016 the company has been trying to come up with affordable products.

    In the beginning stages, Jio sims were given for free with free internet access and unlimited calls and now Jio sim has the greatest number of subscribers in the telecom industry. Reliance Jio has the majority market share in the telecom industry with over 35.7% and 404.12 million users.

    Telecom Subscriber Market Share
    Telecom Subscriber Market Share 

    The low-cost JioPhone which was launched later on helped millions of users to shift to 4G from their 2G enabled phones. Reliance Jio provided JioPhones for INR 1,500 with an inbuilt OS system which helped the users use Facebook, Google and a lot of other apps.

    According to the reports from Reliance Jio, in just a span of 2 years, they had sold around 70 million JioPhones.

    One of the other reasons why consumers choose Jio is its offers provided such as subscriptions to OTT platforms, cashback, etc. Buyers who bought JioPhone early were provided free voice calls and 4G data for a year.

    Jio is trying to use the same strategy used in JioPhones and Jio sims with the plans to launch JioBook. The company will try to capture the laptop industry with the launch of its JioBook laptop.

    FAQ

    What will be the Specs of JioBook laptop?

    JioBook laptop will come with a storage facility of 32/64 GB with an eMMC (embedded Multi-Media Card) 5.1 memory, with support of 4G LTE and a display of 720P HD.

    What is the expected price of JioBook laptop?

    The expected price of JioBook laptop is 10,000.

    When will JioBook laptop be launched?

    JioBook laptop will may be launched at the Reliance Annual General Meeting likely to be held in July 2021.

    Conclusion

    Jio has announced a lot of other products which include Jio Glass for video call with the support of holographic. Jio is also planning for an affordable android phones which will be priced at the range of INR 4,000. The android phone will be manufactured with the partnership with Google.

    The company has received a lot of funding last year from the biggest companies around the world. This has led Jio to overcome the major hurdles in the Industry making it the leading company in India. JioBook laptops are expected to launch soon. However, there have not been any official announcements regarding the launch of the laptops. The announcement is expected to be during the next Annual General Meeting of the company.

  • Inspiring Quotes By Indian Entrepreneurs [Exhaustive List]

    Sachin Bansal | Inspiring Indian Quotes

    “Rules of Hiring #1: If there is doubt, there is no doubt. Rules of Hiring #2: Always hire people who are smarter than you.”

    -Sachin Bansal, Founder of Flipkart

    Shashank ND | Inspiring Indian Quotes

    “Never hire someone to do your initial sales. In fact you should acquire your first hundred customers yourself”

    Quoted by- Sashank ND, Founder of Practo

    Abhishek Goyal | Inspiring Indian Quotes

    “Raise money from investors who are more excited about the BUSINESS or MARKET than the TEAM. They can help discover amazing opportunities”

    Quoted by- Abhishek Goyal, Founder of Traxcn

    Kunal Shah | Inspiring Indian Quotes

    “I strongly believe all students should have a startup during college. Doesn’t matter if successful or how big or small. Worst case scenario it will make them 10x better employee than someone with no exposure to how a business works”

    “If you fully accept the worst that can ever happen in your journey, fear won’t ever be an obstacle in starting-up”

    Quoted by- Kunal Shah, Founder of Freecharge

    Kunal Shah is the founder of FreeCharge, which  recently got acquired by Axis Bank for $60 million. Before that, Snapdeal had acquired FreeCharge in the year 2015 for about $400 million. He has done his MBA from Narsee Monjee Institute of Management Studies and studied at Wilson College, Mumbai.  

    Girish Mathrubootham | Inspiring Indian Quotes

    “Building a company is similar to building a product. Culture is the UX for employees & Support is the UX for customers.”

    “Don’t be a jerk! Even if you are brilliant, don’t be a brilliant jerk.”

    Quoted by- Girish Mathorrobootha, Founder of Freshworks

    Girish Mathrubootham is the founder of Freshworks which is a software-based service company. Prior to this, he was the VP of Product Management at ZOHO Corporation.

    Rahul Yadav | Inspiring Indian Quotes

    “There is no secret ingredient. To make something special you just have to believe it’s special.”

    Quoted by- Rahul Yadav, Founder of Housing

    Shradha Sharma | Inspiring Indian Quotes

    “It’s a long long road. Sometimes all you need are people who pat your back and say, carry on. Thank you to everyone who encourages.”

    Quoted by- Sharaddha Sharma, Founder of Yourstory

    Ritesh Agarwal | Inspiring Indian Quotes

    “Building predictability on top of market place economy is how new age businesses will get built. Super excited”

    “It is extremely important to build something that a 100 people absolutely love using rather than making something that a 1000 people would just, kind of, like.”

    Quoted by- Ritesh Agarwal, Founder of OYO

    Ritesh Agarwal is founder of OYO which is India’s largest marketplace for branded and budget hotels. OYO Rooms worth over $1 Billion. He began working on the project in 2012. Agarwal started his venture in Gurgoan and it is now spread in 230 cities in India and also in countries like UAE, Nepal, China and many others.

    Kunal Bahl | Inspiring Indian Quotes

    “Scale is important for a startup. Think big, but take one day at a time.”

    Quoted by- Kunal Bahl, Co-Founder of SnapDeal –

    Co-founder of Snapdeal, Kunal Bahl, did his schooling from Delhi Public School, R.K. Puram and went to Wharton School of Business, University of Pennsylvania. He and his friend Rohit Bansal launched this Indian startup in 2010. He worked with Microsoft at the beginning of his career. Today, his e-commerce platform is a huge success and is competing with Amazon and Flipkart.

    Deepinder Goyal | Inspiring Indian Quotes

    “The fundamental model of our business is that in mature markets we should make profits and they shouldn’t need any more outside money to grow.”

    Quoted by- Deepinder Goyal, Founder Zomato

    “If you want to walk fast, walk alone. But if you want to walk far, walk together.”

    “I don’t believe in taking right decisions, I take decisions and make them right.”

    Quoted by- Ratan Tata, Chairman of Tata Group

    “However big or small, make it a good business, make it a clean business, make it a business you are very proud of.”

    Quoted by- Deep Kalra, founder of MakeMyTrip

    “Today I see a billion people as a billion potential consumers, an opportunity to generate value for them and to make a return for myself”

    “It is important to achieve our goals, but not at any cost.”

    Quoted by-  Mukesh Ambani, CEO & Chairman of Reliance

    “If people are not laughing at your goals, your goals are too small”

    “Leadership is the self-confidence of working with people smarter than you.”

    Quoted by- Azim Premji, Chairman of Wipro

    “Whether ecommerce companies make money or not, these logistics companies make revenue which is guaranteed for them by ecommerce transactions.”

    Quoted by- Arvind Singhal, MD of Technopak

    Arvind Singhal is graduate from IIT Roorkee and did his MBA from UCLA, USA. It is India’s leading Managing Consulting firm focusing on retail, consumer product, fashion-textiles and apparel and many more.

    “The trade market is the place with the least scope for emotions, especially of fear and greed.”

    Quoted by- Rachit Chawla, Co-Founder of Finway Capital

    Rachit Chawla from Aston Business School has done his Bachelor’s in Commerce. He is the co-founder of Finway Capital. Finway Capital talks about loan funding.  It funds people and helps creating wealth and give personal loans and insurance.

    “Entrepreneurship is akin to riding a dragon – there are more ups and downs than you can ever imagine. But every challenge on the way only makes you stronger, and every failure only bears new learnings.”

    Quoted by- Yatin Hans, Founder of Bigsmall

    Yatin Hans, Bigsmall.in which promotes gifting culture in India. It gives unique and fun gifts to the Indian public. He has done his schooling from Heritage School and B.Com Honours from Delhi University. He later went to ESADE Business School to complete his Masters in Marketing.

    “Human capital is the most precious of all forms of capital available”

    Quoted by- Ajay Ramasubramaniam, Ryerson Futures Inc.

    Ajay Ramasubramaniam, Director of Zone Startups, is promoting Indian operating system as well as initiatives including corporation innovation programs and thematic accelerators and has raised around Rs. 150 crores. He has done his MBA from Mumbai University in Finance and Marketing.  

  • JioMart VS BigBasket: Top Contenders Of Online Grocery Market

    In the year 2019, Reliance Industries launched their own online groceries ordering website called JioMart, this was meant to be an alternative for the other grocery websites like BigBasket which is a well-established company in the market for the last few years. BigBasket has the experience and expertise of almost a decade, while JioMart launched in 2019 is already gaining users rapidly.

    However JioMart has an added advantage which is pricing, JioMart offers a flat 5% minimum discount on MRP on all their products which is pretty similar to DMart’s model, this model helped DMart become an overnight success story in India with their malls being found left, right and center in most Indian cities today. Hence why, Mukesh Ambani’s digital grocery JioMart is scaling at a pace for its competitors to take a very hard look at their ventures.

    JioMart is currently receiving orders at 250,000 per day. At the same time, the old players in the market such as Big Basket is receiving 220,000 per day respectively during the coronavirus induced nationwide lockdown, Bigbasket however has seen per day orders to rise around 190,000 and 300,000 levels respectively. JioMart operates in 200 cities, while Big Basket operates inly in 30 cities.

    Investors That Make Reliance Retail The Largest Retailer In India
    The Reliance Retail has achieved success and become the Indian largest retailer,because of its investments, the investor demand for reliance retail business isso strong that Mukesh Ambani [/reliance-industries-amazon-stake/]is puttinginvestors on a wait list. Mubadala an Abu Dhabi based investor …
    StartupTalkyPV Vyshnavi

    A brief about BigBasket

    Big Basket is one of the largest online grocery super market in India. The company was founded in 2011 by Hari Menon, VS Sudharkar, VS Ramesh, Vipul Parekh and Abhinav Choudari. It is headquartered in Bengaluru and operates in 30 cities in India. Big Basket offers variety of products such as fresh fruits, vegetable, food grains, oil, masala, poultry and meat, packaged snacks, beverages household supplies including healthcare products.

    It has more than 20,000 different from 1000 different brands across its catalog. The valuation of the company is 1.8 billion, reaching the unicorn status. Bigbasket has revenue of around $3.2 million and approximately 4,000 employees. It delivers to various cities in India such as Hyderabad, Mumbai, Pune, Chennai, Delhi, Noida, Mysore, Coimbatore, Vijayawada, Kolkata, Ahmedabad, Lucknow, Kanpur, Gurgaon, Vadodara, Vizag, Surat, Nagpur, Patna, Indore, Chandigarh, etc.

    Big basket was launched at a time when India’s urban workforce in cities was finding it difficult to allocate time to buy groceries and home essentials. Bigbasket gave its customers a flexibility to place their order anytime and get the things delivered at their preferred time. Bigbasket comes with the promise of having low prices and prompt delivery services.

    The logos of bigbasket and jiomart
    The logos of bigbasket and jiomart

    A brief about JioMart

    JioMart is an Indian online grocery delivery service, started as a joint venture between Reliance Retail and Jio platforms. JioMart delivery grocery and daily essential from nearby stores. The platform was soft launched in December 2019. A pilot was launched in selected areas of Navi Mumbai, Thane and Kalyan in April 2020. In May 2020, Jiomart launched in 200 cities and towns in India.

    Within a few days of its launch the JioMart Application crossed 1 million downloads. In October 2020, JioMart signed an agreement with Infibeam Avenues. JioMart is an online selling channel format of Reliance Retail Limited. We offer you convenience of shopping everything that you need for your home. The website sells products like fresh fruits and vegetables, cereals, packaged food, bakery and dairy, frozen and pet food, household cleaning items to your specialized beauty and personal care products from a single virtual store.

    JioMart is an online grocery store that provides 50,000 plus grocery products at discounts rates at your doorstep through an express delivery system. The company follows the on-demand model. JioMart also avoids using the system of warehousing and partner with local retailers instead. These retailers will source the grocery products and deliver it to the customers. JioMart’s app is available for download on Google Play Store and Apple Store.

    Online Grocery Service JioMart Expands services in 200 Cities
    After starting JioMart services in the suburbs of Mumbai, Reliance Industrieshas now expanded the services of JioMart, [/tag/jiomart/] an online grocerystore, to cover over 200 towns across the country. The latest venture by MukeshAmbani [/tag/mukesh-ambani/] will offer grocery delivery at the do…
    StartupTalkyVarad Kitey

    Features of Bigbasket

    BigBasket has over 10 million customers. While the companies target audience is the working people, students and old people who don’t have the energy to go to grocery stores or to even stand in lines and buy the necessary products. Big basket helps people to browse through a huge variety of quality grocery items. Big basket helps these people to browse through a huge variety of quality grocery items.

    BigBasket home page
    BigBasket home page

    When the customers can order the required products which will be delivery within 90 minutes for express delivery or next morning for slotted delivery. There are three types of delivery systems which are

    • Slotted delivery: Customers can pick a convenient slot when they want their purchase to be delivery.
    • Express delivery: This service can be availed by customers in cities like Bangalore, Mumbai, Pune, Chennai, Kolkata, Hyderabad and Delhi NCR. Delivery will be done within 90 minutes

    The company has BB specialty stores: Big Basket has partnership with specialty stores like Karachi bakery. Customers can request a product from the store which will be delivered within 90 minutes. Big basket has acquired 100% stakes in milk delivery ventures Raincan and morningcart. The milk delivery service was branded as BB daily where customers can get milk delivered to their home in the morning everyday through subscribing for a fee.

    Online Grocery Service JioMart Expands services in 200 Cities
    After starting JioMart services in the suburbs of Mumbai, Reliance Industrieshas now expanded the services of JioMart, [/tag/jiomart/] an online grocerystore, to cover over 200 towns across the country. The latest venture by MukeshAmbani [/tag/mukesh-ambani/] will offer grocery delivery at the do…
    StartupTalkyVarad Kitey

    Features of JioMart

    JioMart will operate on the online to offline business model, it will connect with the local retailers and deliver goods to customers by procuring then from the nearest store located in the customer’s vicinity. This is unlike Grofers and BigBasket that use warehouse model. JioMart helps the correct the unorganized retail sector and help local shopkeepers whose businesses were adversely affected due to competitive pricing and warehousing strategies of online retail stores.

    JioMart home page
    JioMart home page

    In addition to increased sales and margins, these shopkeepers will be equipped with point of sale (PoS) terminals, integrated billing applications, and GST compliance. It will also upskill them in inventory management and supply chain management. The types of delivery services provided by JioMart are:

    • Free home delivery: It will give you the benefit of delivery of commodities at your doorstep by producing it from the nearby store.
    • No minimum value for free delivery: Sites like Big Basket and grofers det up a minimum value of purchase to avail the free delivery.
    • Express delivery: Express delivery means quicker delivery than ordinary services. In the ecommerce segment, it is generally within 24 hours.
    • No question asked return policy: When you wish to return the goods that you ordered online, you are almost always bombarded with unnecessary questions, JioMart will not ask the customer those questions.
    • Big discounts: The platform gives early discount of Rs. 3000, the platform has come up with a promotional strategy of pre-registration wherein people can save up to Rs. 3000 on future shopping.

    Mukesh Ambani’s JioMart Is Set To Dominate E-Commerce In India
    When it comes to the Indian business arena, one simply cannot ignore Mr. MukeshAmbani—the owner of Reliance Industries, and the wealthiest businessman ofIndia. He has footprints in some of the most important sectors of the Indianeconomy such as refining, oil & gas, petrochemicals, telecom, retail…
    StartupTalkyLakshya Singh

    Funding and acquisitions of Big Basket and JioMart

    BigBasket has received funds worth around $526 million. The investors include Alibaba group, Abraaj Group, Ascent Capital, Bessemer venture partner, Brand Capital, Helium venture partner, ICICI venture, IFC Venture capital group, LionRock Capital, Paytm Mall, Sands Capital management, Sands capital ventures, Trifecta capital and Zodius Capital.

    There are also talks about additional funding of around $200million post which the company would be valued at around $900 million. When it come to the acquisition BigBasket acquisition of delyver in June 2015 for an undisclosed amount. Delyver was also an online grocery store and its specialty was using local stores to deliver groceries to people. Now, all business assets of delyver have been merged with bigbasket.

    The Reliance Industries has acquired or invested in several companies, which are now under Jio platforms. Some of them Haptik, Embibe, Radisys, Reverie, Grab a Crub, EasyGov, Asteria Aerospace, Tesseract. The companies that have a stake in the Jio platforms are KKR, Public Investment fund of Saudi Arabia, Vista equity partners, Silver Lake Partners, Mudabla Investment Company, General Atlantic, Google and Facebook among others.

    Valuation of JioMart and Big Basket

    In May 2020, the enterprise value of Jio platform was estimated to be $72 billion. The company was also reported to be valuable than all other businesses of RIL put together. Morgan Stanley has valued the net asset value of Reliance Retail at $29 billion the company estimates the e commerce will account for 15% of all retail sales in India by 2023. Big Basket on the other hand has the valuation of over $1.2 billion.

    Big basket raised $300 million in February 2018 as part of its series E financing, which was led by the Alibaba Group. This gave the company a post-money valuation of $850 million. According to market sources, BigBasket is scouting for additional funding of $350-400 million at a valuation of about $2 billion. BigBasket has hence upped growth targets for FY21 by 40-50 per cent.

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    Workflow and Navigation of both websites

    When it comes to workflow both the websites are similar overall ordering process, you sing up using email and phone number, selection or area or pin number, adding item to the cart, clicking on the checkout button to finally finish the payment process. BigBasket has a much wider variety of categories for products, while JioMart needs to work more in this area. However, JioMart is gets a point as it has the multi search feature. With the help of this feature the user can search multiple products in one go and the combined results will be displayed.

    Navigation and search on big basket and jiomart
    Navigation and search on big basket and jiomart

    Wallet and checkout

    JioMart does not have a wallet, it is also difficult choose an option to apply discount vouchers or choose a delivery slot. However JioMart directly refunds to your online payment method in case there is an adjustment later and they also have an option of crediting the amount to your store credit account. In contrast BigBasket provides lots of options during checkout such as the ability to apply a voucher, use balance from the wallet select a delivery slot, etc.

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    Storage Levels

    JioMart orders are sourced from your nearest retail outlet of reliance Fresh or reliance mart unlike BigBasket which are sourced from their own warehouses. This way JioMart has an advantage that is their sources like Reliance fresh are already established enterprises unlike the Big Basket warehouses, so they didn’t have to create their supply chain from scratch. Also, I think their stocks will churn out much faster as both online and offline buyers will buy from the same sources.

  • Investors That Make Reliance Retail The Largest Retailer In India

    The Reliance Retail has achieved success and become the Indian largest retailer, because of its investments, the investor demand for reliance retail business is so strong that Mukesh Ambani is putting investors on a wait list. Mubadala an Abu Dhabi based investor has recently decided to invest ₹6,248 crore in the Reliance Retail to get a 1.40% equity stake for its investment.

    This announcement comes day after Silver Lake partners said that it will invest ₹1,875 crore in India largest retailer. In all Reliance retail has managed to raise ₹24,847.5 crore by selling 5.6% stake to private equity and sovereign funds. That includes General Atlantic which will pick up 0.84% stake for ₹3,675 crore and KKR and co which will also invest ₹5,500 crore for 1.28% holding.

    Reliance Retail has a total of 11,784 stores across consumer, electronics, grocery, general merchandise, fashion and lifestyle. And reported a consolidated turnover of ₹1,62,936 crore and net profit of ₹5,448 crore for the year March, 2020. The acquisition of future group retail and logistics business for ₹27,513 crore will add 1,736 Big Bazaar and other stores 28.3 million sq. ft. of retail area across grocery and fashion segments.

    Reliance Industries Limited Success Story [Case Study]
    Reliance Industries Limited (RIL) is an Indian organization headquartered inMumbai, India. Reliance has its entities across domains like vitality,petrochemicals, materials, common assets, retail, and broadcast communications.Reliance is one of the most prominent businesses in India, the biggest ”…
    StartupTalkyDevashish Shrivastava

    A Brief about Reliance Retail

    Reliance Retail is a retail initiative of the group and is a central to our consumer facing businesses. It has is a short time forged strong and enduring bonds with millions of consumers by providing them unlimited choice, outstanding value proposition, superior quality and unmatched experience across all its stores. Reliance retail is the largest retailer in the country.

    Reliance Retail has adopted a multi prong strategy and operates chain of neighborhood stores, supermarkets, wholesale cash and carry stores, specialty stores and online stores and has democratized access to a variety of products and services across diverse segments for Indian consumers. Reliance retail reported a turnover of Rs. 1,30,566 crore for financial year 2018 to 2019. As of 2019, Reliance retail operates 10,901 stores across 6,700 plus cities with a retail area of over 24.5 million sq. ft.

    The various subdivisions of Reliance Retail
    The various subdivisions of Reliance Retail 

    Reliance retail operates Reliance Fresh, Reliance Smart and Reliance Market stores. In the consumer electronics category Reliance Retail operates Reliance Digital, Reliance Digital Express mini stores and Jio stores and in the fashion and lifestyle category it operates Reliance Trends, Project Eve, Reliance Footprint, Reliance jewels and AJIO.com in addition to a large number of partner brand stores across the country.

    Reliance Retail has emerged as the partner of choice for many International brands and has established exclusive partnership with many revered International brands such as Diesel, Superdry, Hamleys, Ermenegildo, Zegna, Marks and spencer, Paul and shark, Thomas pink, Kenneth Cole, Brooks Brothers, Steve Madden, Payless Showsource, Grand Vision and many more.

    The Subsidiaries That Make Reliance Industries Successful
    Reliance Industries limited is an Indian multinational conglomerate company thatis headquartered in Mumbai, India. Reliance owns businesses across India engagedin energy, petrochemicals, textiles, natural resources, retail andtelecommunications. Reliance is one of the most profitable and the larg…
    StartupTalkyPV Vyshnavi

    Below here are the recent investments made into the Reliance Retail:

    Saudi Arabia’s Public Investment Fund

    On November 5, 2020, Reliance Retail, raised INR 9,555 Cr ($1.3 Bn approximately) from Saudi Arabia’s Public Investment Fund (PIF), to accelerate the growth of its digital retail empire. It is a record eighth by marquee global investors in Reliance Retail. This investment values Reliance Retail at a pre-money equity value of INR 4.587 lakh Cr (around $62.4 Bn)

    PIF (Public Investment Fund) is one of the largest sovereign wealth funds in the world, which works alongside various global strategic partners and investment managers. It acts as the Kingdom of Saudi Arabia’s primary investment arm aiming toward generating long-term value for the Kingdom of Saudi Arabia

    Mubadala Investment

    The most recent investment was made by Mubadala Investment Company who is investing ₹6,248 crore ($852.84 million) in the Reliance Retail giving the unit a pre-money equity value of 4.29 trillion rupees. The Mubadala’s investment will translate into a 1.40% equity stake in Reliance Retail on a fully diluted basis. This investment by Mubadala pegs pre investment equity valuation of Reliance Retail at ₹4.28 lakh crore.

    Ambani is also replicating funding blitz for the retail unit after selling stakes in Jio Platforms as investors, including Facebook Inc. and Google, bet on his efforts to build a technology giant that offers data, content and commerce. Mubadala had also invested $1.2 billion in Jio Platforms earlier this year.

    Shareholding No of Shares
    Vanishree Commercials Ltd 297,000,000
    Infotel Infocomm Enterprises Pvt. Ltd 36,000,000
    Silver Lake 109,929,733
    KKR 81,348,479
    General Atlantic 53,865,885
    Silver Lake 27,482,594
    Mubadala 91,572,004
    Total Equity Shares of RRVL 6,534,957,216

    General Atlantic Investment

    General Atlantic a leading global growth equity firm decided to invest ₹3,675 crore into Reliance Retail. This investment values Reliance Retail at a pre money equity value of ₹4,285 lakh crore. The general Atlantic investment will translate into a 0.84% equity stake in reliance retail on a fully diluted basis. This marks the second investment by General Atlantic in a subsidiary of Reliance Industries, following a ₹6,598.38 crore investment in Jio platforms.

    Silver Lake Investment

    The Silver Lake would invest ₹7,500 crore in subsidiary Reliance Retail Ventures for a 1.75% stake, valuing the company at ₹4.2 trillion. Earlier in 2020, Silver Lake invested ₹10,202 crore in Jio Platforms, Reliance digital service platform. This however, set the stage for more stake sales by the company including one to PE firm KKR, is also an investor in Jio Platform.

    Silver Lake is a US based Global Technology Investment firm with an asset size $60 Billion. It has 56 portfolio companies and 300,000 employees by these firms. The company has made investment in India with Jio Platform, Byjus and Eka with 10 acquisitions.

    List of Companies Acquired by Reliance Brands & Jio
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    StartupTalkyVarad Kitey

    KKR Investment

    Global Investment firm KKR has also invested ₹5,500 crore in Reliance Retail for 1.28% equity share. This was the second investment by KKR in a Reliance subsidiary, following a ₹11,367 crore investment in Jio Platform which was announced earlier in 2020. KKR investment values Reliance Retail at a pre money equity value of ₹4.21 trillion.

    KKR has also invested $1.5 billion in the Jio platforms, its Co-founder and Co –CEO says that “we are pleased to deepen our relationship with Reliance Industries through this investment in Reliance Retail Ventures. Reliance retail new commerce platform is filling an important need for both consumers and small businesses as more Indian consumers have moved to shopping online”.

    Jio platforms backing Reliance Retail

    RIL had given the option to investors in Jio Platforms to consider backing Reliance Retail as it sought to unlock value, following the acquisition of Future Group’s retail assets last week, persons in the know said. Reliance Retail could look at offloading a 25-30% stake to a combination of private equity firms and tech giants such as Facebook, Google, and Intel, presenting telecom and retail as a potent force in India’s consumption story.

    Along with Jio, retail contributes 35% to Reliance Industries consolidated earnings before interest, taxes, depreciation, and amortization (Ebitda), Mukesh Ambani, RIL’s chairman, had said at the firm’s annual general meeting in July. Reliance has offloaded nearly 33% in Jio Platforms to 14 investors for Rs 1.52 trillion between April and June, emerging as the only firm in the country to go in for a massive monetization exercise at the height of the lockdown.

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    Jio Mart

    The reliance Retail runs supermarkets, India largest consumer electronics chain store, a cash and carry wholesaler, fast fashion outlets and an online grocery store called as Jio Mart. Ambani says that “we will induct global partners and investors into Relaince Retail in the next few quarters”. As the firm was planning to scale up Jio Mart as it new venture.

    Some facts on Jio Mart
    Some facts on Jio Mart

    JioMart, which went live across 200 cities in May has crossed 250,000 in daily orders with the number growing each and every day. Since then daily orders have crossed the 400,000 mark. JioMart was pegged at ₹ 500 per transaction, but Ambani is trying to increase this number by taking the platform into areas beyond groceries, including electronics, fashion, and healthcare.

    The company is also trying to work closely with WhatsApp which is owned by Facebook to boost the reach of JioMart. Apart from small merchants, Reliance Retail would also look to work closely with farmers to source more food items from them, as it seeks to scale up its farm to fork operations. At the same time, Reliance Retail would continue to push its presence into small towns and cities, Ambani said, adding more outlets in these places.

  • Reliance Jio Launches JioPages ‘Made in India’ Browser

    Telecom giant Reliance Jio announced the launch of  a new web browser, called JioPages that has been conceptualised and designed entirely in India, giving a major boost to the company’s digital presence. The company claims that privacy is at the core of the browser.

    “Built on a powerful Chromium Blink engine, JioPages provides enhanced browsing experience through faster engine migration, webpage rendering, faster page loads, efficient media streaming, Emoji domain support and encrypted connection,” Jio said in a statement.

    JioPages has been designed with India centric features such as:

    Support for eight Indian languages

    JioPages support eight Indian languages such as: Hindi, Marathi, Tamil, Gujarati, Telugu, Malayalam, Kannada and Bengali. It also provides the users  the option of customising the content feed according to their preferred state. Upon selecting a state, the popular sites of the state start appearing on the screen.

    Localised news content curation

    The content feed of the browser is specially cutomised to suit the user’s preference in terms of language, topic and region. In addition to this, the browser sends notifications only on topics that are either important or of interest to the user.

    Jio’s Journey Towards Dominating The Data Market
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    StartupTalkyPV Vyshnavi

    Smart download manager

    The file types such as images, video, document or pages are automatically categorised in the JioPages browser which makes the file management easier for the user.

    Incognito browsing

    JioPages also enables private browsing through Incognito mode by preventing browsing history from being stored in the system. The user has the option of setting a four-digit security PIN or fingerprint as an access code to the Incognito mode in the JioPages browser.

    Ad Blocker

    The browser provides the user seamless browsing experience by blocking unsolicited advertisements and popups. It will also allow users to whitelist domains to show advertisements.

    Personalised home screen

    JioPages allows the users to have the option of setting any of the leading search engines in the market such as Google, Bing, MSN, Yahoo or Duck Duck Go, as their default search engine. Users can also pin the links of their favourite websites on the home screen for easy and haste access.

    Jio-Facebook Partnership- latest Facebook Investments in India After Byju’s, Meesho and Unacademy
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    Personalised theme

    Users can choose from diferent categories of colourful background themes to enhance browsing experience. They could also switch to ‘Dark mode’ for an eye-friendly viewing experience at night.

    Informative cards

    Another feature of the JioPages browser is that is provides informative cards. An Informative Card captures key numbers, trends, symbols or headlines of a given topic, for e.g. stock market trends, commodity prices or cricket score, and displays them as compact clickable banners on the screen.

    The JioPages browser also supports eight Indian languages including Hindi, Marathi, Tamil, Gujarati, Telugu, Malayalam, Kannada and Bengali and is available for download on the Google Play Store. Also, the company has not announced the launch of iOS variant of JioPages browser as of now.

    Google, Facebook, Microsoft, Opera Software, Adobe Systems, Intel, IBM, Samsung and others have contributed in the development of the Chromium Blink engine.

    How to download JioPages browser:

    JioPages browser can be downloaded from the Google PlayStore and is currently available only on Android smartphones.

    Recently, Reliance Jio also announced that is working with Qualcomm Inc. to develop 5G solutions and accelerate efforts to bring the high-speed network to the world’s No. 2 mobile market by users.

    Jio Platforms have also raised ₹1.52 trillion from investors such as Google, Inc. and Facebook in just four months this year to achieve its digital goals. Qualcomm Ventures, the investment arm of Qualcomm Incorporated, has also invested ₹730 crore in Jio Platforms for a 0.15 % stake.

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    Jio was launched in India four years ago, offering free calls and cheap data. Now, it is India biggest carrier with about 400 million users.

    The company is planning to introduce an inexpensive 5G smartphone that would eventually cost less than $40, Press Trust of India reported, citing an official statement.

  • Play Store Alternative In India To Beat Google’s Monopoly

    India came another step closer to Atmanirbhar Bharat from a technological aspect as it plans a new alternative to reduce the dependency of consumers on the global tech giants. These have progressively undergone analysis for alleged unjust practices and focusing the cornering piece of the overall industry. The Play Store Alternative in India is soon to make a change in the global market.

    As per recent news, Google said that while stages are permitted to utilize their own installment frameworks through the websites, or through different stores, they have to pay a 30% charge in case they decide to utilize Google Play. A few organizers and engineers named the choice unjustifiable, saying that it can hurt the market places in India.

    The Start-up Founders Came Forward

    Play store alternative in India_startuptalky
    Start-up founders came forward

    Vijay Shekhar Sharma from Paytm, Deep Karla from MakeMyTrip, executives from PolicyBazaar, RazorPay and Sharechat are in the list of 150 entrepreneurs and start-up founders joining hands to initiate this new idea of Play Store alternative in India.

    In a meeting that was held on Tuesday, the team came up with new approaches to set up a large-scale platform that will profoundly host local apps and break the duopoly market that is being played by both Google’s Play Store and Apple’s App Store, as recorded by a source from Economic Times. The developing records of founders expressed their grievances about Google’s “monopolistic” market in India  home to one of the globally set up ecosystems, and discussed that whatever they have asserted was the unjustifiable and conflicting authorization of Play Store’s rules in the nation.

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    Their exertion comes days after a little gathering of firms which included Epic Games, Spotify, Basecamp, Match Group and ProtonMail shaped their own alliance to compel Apple and Google to make changes to their commercial center principles.

    Their exertion comes days after a little gathering of firms including Epic Games, Spotify, Basecamp, Match Group, ProtonMail shaped their own alliance to compel Apple and Google to make changes to their commercial center principles.

    Apps Violating Google Guideline

    Play store alternative in India_startuptalky
    Violation of guidelines

    This conflict started with Paytm being removed for a few hours from the Google Play Store. On this event, Google claimed that Paytm was accused of not following a few rules and regulations on its fantasy gaming promotions. Google had once already claimed that offering cash-back and vouchers alone does not violate any terms and conditions by Google.

    It additionally let out a notice in its explanation that further violations will make for stricter activities. On the contrary, Vijay Shekhar Sharma has also complained that the problem lies in India’s app ecosystem. He has also added “In case that we accept this nation can assemble digital business; we should realize that it is at another person’s hand to lend a favor for the business and not this present nation’s standards and guidelines.”

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    Even the food apps like Zomato and Swiggy also got wrongly positioned by Google and got notified for their offer and cashback offered due to the IPL for promotional aspects of in-app games. Zomato has, however, assured that they are going to rearrange themselves according to the guidelines set up by Google and this time they are also planning to replace their latest strategy with strategy with a more exciting program within this week.

    The entertainment apps too were not spared from Google’s eye. Several other firms including Hotstar have also been the victim of the guideline violation of Google Play Store.

    Alternative App

    Play store alternative in India_startuptalky
    Play Store alternative in India 

    Google says it will permit the developers to sell their services through other application stores, or websites, the businesses don’t consider this to be a viable alternative. Naidu proposed that unless the government and administration decide to interfere, there might be no other solution. According to Prasanto K. Roy,  tech policy analyst, the administration’s Mobile Seva App store has over a thousand applications and 85 million downloads, yet it is uncertain among Indian clients.

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    Then again, having India’s own app store may not be an answer in any case. Many are giving it an eye as a kind of stop-gap. Roy also claimed that substitute app stores like Amazon App Store and Samsung’s Galaxy Store will essentially not have a similar grip as Google Play. He said it’s not simply their smaller numbers that will shield them from substituting the local stores, clients are additionally determined towards Google Play by their habit.

    Google To Join With Jio

    Play store alternative in India_startuptalky
    Google joining hands with Jio

    Mukesh Ambani, the richest man of Asia, who runs oil-to-retails giant Reliance Industries and introduced the technology-oriented Jio Platforms has pulled in over $20 billion in speculation from Google, Facebook, and 11 other prominent investors this year.

    Google has claimed that in the month of July, it will be joining hands with Jio Platforms on low-cost Android cell phones. Jio Platforms is intending to dispatch almost around 200 million cell phones in the following three years. Bloomberg previously detailed about Jio Platform’s cell phone creation plans.

    Play Store alternative in India_startuptalky
    Growth in the usage of Play store

    A portion of the participating individuals is likewise cheerful that the administration, which has asked the residents in India to become independent to restore the declining economy, would support their development.

  • Reliance Journey Of Being The Worlds 2nd Most Valuable Energy Firm

    Reliance Industries Ltd has now overtaken the company Exxon Mobil to become the world’s second most valuable energy company after its market capitalization scaled to a record to a record high of over ₹14 trillion (14 lakh crore). This propels Mukesh Ambani to become the fifth wealthiest person on the planet with a net worth of $77.4 billion, a position previously filled by Steve Ballmer.

    The logo of Reliance Industries.
    The logo of Reliance Industries.

    According to the stock market data, the conglomerate is now ranked 46thglobally on market. Its share price scaled to its highest of ₹2,163 before settling at ₹2,146.20 taking the company from its 48th position to 46th position. The ₹13.6 trillion market capital of Reliance along with ₹54,262 crore market capital from its partly paid shares that were traded separately puts the firms combined market value at ₹14.1 trillion or $189.3 billion. Reliance is the 10thhighest market capital company in Asia.

    Besides being on a higher spot Exxonmobile, Reliance also is above Apple which has a market cap of $1.6 trillion, Microsoft at $1.5 trillion and Amazon a $1.48 trillion dollars. It is also is higher than Chevron, Oracle, Unilever, Bank of china and The SoftBank Group. At the 46th rank it is just below PepsiCo which has a market capital of 189.8 billion.

    Billionaire Mukesh Ambani’s Reliance Retail has acquired Future group Retail Business for ₹24,713 crore
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    Reliance Industries partly paid shares

    The RelaincePP shares was first listed on stock exchanges on June 15th, 2020 is one of the reasons to why Relaince is the 2nd most valuable energy firm in the world. The ReliancePP or partly paid up shares have been issued in recently concluded in the rights issue have generated over 4.1 times more returns to investors in less than two months. Reliance raised a total of Rs 2,12,809 crore just through Rights Issue, investment of BP to its fuel retaining venture.

    It added 115.9 billion to shareholder wealth within just four months giving the company the highest value creation in the world in such a short time, which was mostly because the record breaking fundraising from its digital unit, Jio Platforms. The firm also added $39 billion market value just within 5 weeks and 29 billion just from the last 14 trading sessions. The combined capital raised has no precedence globally in such a short time.

    List of Companies Acquired by Reliance Brands & Jio
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    The journey to the 2nd most valuable energy firm

    The Reliance Group, is India’s largest private sector enterprise with businesses in thee energy and materials value chain. Founded by Dhirubhai Ambani the flagship company, Reliance Industries Limited is a fortune Global 500 company and has evolved from a textile company to a global leader in the materials and energy value chain businesses. It all started when Ambani started the yarn trading businesses in 1957 form a small 500sq.ft. Office in Mumbai. In 1996 Reliance went on to become the biggest textile brand “Only Vimal”

    Reliance's growth to become the worlds 2nd energy company by value
    Reliance’s growth rate to become the worlds 2nd energy company by value
    • Reliance stands as the global leader when it comes to being the largest polyester yarn and fiber producer in the world and among the top five to ten producers in the world in major petrochemical products.
    • Reliance industries limited operates world class manufacturing facilities across the country at Allahabad, Barabanki, Dahej, Dhenkanal, Hazira, Hoshiarpur, Jamnagar, Kurkumbh, Nagothane, Nagpur, Naroda, Patalganga, Silvassa and Vadodara
    • The company works under different business segments such as Production, Petroleum Refining, Marketing, Petrochemicals, Textiles, Telecommunications and Retail.
    • The products and brands offered by the company are: LPG, Crude oil, Gasoline, High speed diesel, Aviation turbine fuel, Petroleum Coke, Sulphur, Fleet management services, Highway hospitality services, Vehicle care services, High and low density Polyethylene, Fleet management services, Highway hospitality services, Vehicle care services, different types of Yarn, etc.
    • The subsidiaries of Reliance are: Reliance Petroleum Limited, Reliance Industrial Investment and Holdings Limited, Reliance Ventures Limited,  Reliance Strategic Investments Limited Reliance Exploration and Production DMCC Reliance Global Management Services Limited, Reliance Commercial Associates Limited.
    • other subsidiaries being Reliance Fresh Limited, Retail Concepts and Services (India) Limited, Reliance Retail Insurance Broking Limited, Reliance Retail Finance Limited, Reliance digital Retail Limited, Reliance Retail Travel & Forex Services Limited, Reliance Trends Limited, Reliance Home Store Limited, Reliance Digital Media Limited, etc.

    For a company who just started as a small textile company, Reliance has crossed several milestone to become a Fortune 500 company and now the 2nd most valuable energy firm in the company within a span of 3 decades.

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    Reliance Turning Green

    The Reliance industries has a 15 year vision to build itself as a new energy company that aims to recycle CO2 and create value from plastic waste and has an optimal mix of clean and affordable energy. While the oil to chemical conglomerate has more focused on consumer business in the recent times, but Reliance core which is oil to chemical business is well placed to generate sustained free cash flow.

    Until demand normalizes Reliance Industries are looking to maximize throughout focus on the cost by leveraging deep petrochemical integration and continue to focus on domestic fuel Marketing. Future of O2C is new energy company and partnerships. It also intends to be a net carbon zero company by 2035. To achieve this, the company is also open to work with global financial investors, reputed technology partners and start-ups working on futuristic solutions.

    This new energy business is based on the principle of carbon recycling and circular economy is a multi-trillion opportunity for India and the world. The brokerage said a key focus for Reliance Industries is renewable energy, and for that it intends to build an optimal mix of clean and affordable energy with hydrogen, wind, solar, fuel cells and battery. And intends to use technology, recycle CO2, create value from plastic waste.

  • Reliance launches its own video conference platform JioMeet to compete with Zoom, Google Meet

    After launching JioMart, Mukesh Ambani’s Reliance Jio has launched JioMeet video conferencing app with unlimited free calling on July 2. JioMeet  is available across Android, iOS, Windows, macOS and web. Jiomeet plans to compete Zoom, Microsoft Teams, and Google Meet during the Coronavirus outbreak. On April 30, Jio parent Reliance Industries Limited (RIL) had revealed its plans to launch the JioMeet platform while announcing its quarterly earnings for the fourth quarter.

    As people are forced to change ways of working due to the COVID-19 crisis, video calling has emerged as a necessary tool for businesses to function. Hence, platforms like Zoom, Microsoft Teams and Google Meet have become increasingly popular. Now, to compete with these apps, Reliance Jio has decided to enter the market with its own video conferencing app JioMeet.

    However, Jio Meet won’t be a regular video calling platform as the company also plans to integrate its Health platform with it. It will allow users to consult with doctors online and much more. Interestingly, Jio already had an app on Google Play Store listed as JioHH Doctor that allows doctors to offer their services online So this app could possibly be integrated with JioMeet.

    In its Q4 fiscal results, Reliance mentioned that it is launching a video calling platform for India. Senior VP at Reliance Jio Infocomm, Pankaj Pawar, said,
    “Jio Meet is a platform which has many unique options- it actually has an ability to work on any device, any operating system, and it has an ability to do a complete collaboration. And effectively, this collaboration does not limit to a typical video conferencing app.”

    A report states that the Jio Meet app works across different platforms and is available on Android, iOS, macOS, Microsoft Windows and also as a third party plugin for Microsoft’s Outlook email service for enterprise customers. Moreover, the service will be available on browsers(web). It will have a dedicated website that will allow users to join a meeting, irrespective of the platform they are using.

    JioMeet Features

    The company has said that it is ensuring that the service is easy to use and doesn’t come with a lot of complexities. It is also being said that the final version of the app will have health features along with integration with education services like virtual classrooms for students and more.

    The website for JioMeet is listed on Google Search. Users can visit it by going to https://jiomeet.com/. However, it isn’t live yet and you will be greeted by the message saying “India’s own most secure video conferencing solution coming soon.” The website will come into operations soon as Jio has been released officially.

    JioMeet offers features like Zoom and Google Meet. It allows the host control options and to record logs of audio and video calls. JioMeet will also offer HD audio and video quality during the video conference across all devices, similar to Zoom. JioMeet allows unlimited meetings per day. The meetings can be scheduled in advance and details shared with invitees. Unlike Zoom, JioMeet users can expand any participant’s video or shared screen video by a double tap.

    JioMeet offers easy sign up option with either mobile number or e-mail ID. It allows users to host instant meetings while Zoom allows sign up only with e-mail ID. In JioMeet, each meeting is password protected. The host can also enable ‘Waiting Room’ to ensure no participant joins without permission. It also allows for the creation of groups and single-click calling or chatting.

    With JioMeet, users can initiate a video conferencing with their friends, family or colleagues at work. The service supports HD audio and video call quality with up to 100 participants in a group. In one of the screenshots on Play Store, the number of users is more than 200 which indicates the possibility of the increase in limit.

    Moreover, JioMeet also lets you adjust video call quality according to the network zone thus ensuring zero lag. JioMeet also might have many features like locking the meeting. It might also let users share the screen. It lets host control who can join the meeting alomg with control to remove the unwanted attendees if required.

    Apart from all these features, Jio plans to offer healthcare and education services along with video conferencing. Jio’s eHealth platform integrated with the Meets app will allow users to consult doctors virtually. The eEducation platform will create virtual classroom for students and teachers, record sessions and notes, assign and submit homework.

    Also Read: Mukesh Ambani Is All Set To Revolutionize The E-Commerce Industry with JioMart

    How can users use Jio Meet?

    The Reliance Industries stated,
    “Jio Meet is a platform which has many uniqueness- it actually has an ability to work on any device, any operating system, and it has an ability to do a complete collaboration. , this collaboration does not limit to a typical video conferencing app.”

    As the JioMeet app has been officially released here’s how to use Jio Meet once it goes live.

    • Download Jio Meet from Google Play Store or Apple App Store
    • Open the app and it will display a login page that asks email or mobile no. for access. This will be same for all users including the enterprise users.
    • Users can Sign-in with OTP on the bottom right corner, just below the login button.
    • Enter your mobile number to get a verification code and enter the OTP to log in.
    • Once logged in, you can make audio and video calls and can even initiate a group video call by adding you Jio Meet contacts to a group.
    Jio Meet Conference
    Jio Meet will be releasing across many Platforms

    JioMeet Vs Zoom Differnce

    Basic free plan

    The main JioMeet VS Zoom difference is that JioMeet app currently allows 100 participants in on a group video call which can last up to 24 hours with no restrictions whereas Zoom imposes a 40-minute time limit on group meetings of three or more people up to 100. After 40 minutes a new and fresh meeting has to be started. Other features include ‘Safe Driving Mode’ while driving, multi-device login support for up to five devices and seamless switching from one device to other while on call.

    User Experience

    The user experience of both JioMeet & Zoom app is quite similar. JioMeet is available across all platforms such as Androids, iOS, Windows, macOS and etc. JioMeet download can be done from the app store. Users can download JioMeet from its official website as well.

    JioMeet users can schedule meetings in advance, create password-protect meetings and create waiting room as well. However, the video quality has been limited to 720p so far. But users can also use third-party camera apps for better video quality. Zoom also provides this feature.

    There are three paid plans for Zoom users – for small teams, another for small and medium-sized enterprises and lastly for large enterprises. The plans start at ₹1,120 per month, that allows 9 participants per host. For larger enterprises, Zoom allows up to 1,000 participants in one meeting. On the other hand, JioMeet app has not announced its paid plans as of yet. Hence, it is still unclear as to how JioMeet app will accommodate large enterprises. So JioMeet is likely to announce paid plans to accommodate more than 100 users.

    Encryption

    Encryption has a vital role in video conferencing apps. Zoom had to face backlash from users due to concerns regarding privacy and security. But Reliance Jio has claimed that all meetings hosted through JioMeet app are encrypted. Yet the company has not provided any further details of its End-to-End (E2E) encryption. To ensure the more security and privacy, Zoom has started offering E2E encryption to both its paid as well as free users.

    Everything you need to know about JioMeet
    Jio has finally launched its video conferencing app JioMeet to take on the likesof rivals Zoom and Googlemeet. Jiomeet is available across all platformsAndroid, iOS, Windows, mac OS and web. The video conferencing app supports callconferencing up to 100 people and meeting can go up to 24 hours. A…
    StartupTalkyArbaaz sayed

    Meanwhile, Jio said that it is looking at the opportunity from a different perspective to offer consumers with a range of use-cases taking security and simplicity into account. So, we can expect that Jio Meet will go live within next one or two weeks.