RELIANCE RETAIL DUNZO DEAL
Private equity deals in Indian real estate increased marginally
Private equity deals in Indian real estate surged in Q1 FY25, mainly due to a significant investment in Reliance Retail's warehousing assets. The $1.5 billion Reliance-ADIA-KKR deal represented 71% of total PE deals. Despite an overall weak macroeconomic environment, deal sizes increased by 23% year-on-year. Other notable transactions occurred in Hyderabad, Bengaluru, Pune, and MMR.
At $4.2 billion, Q2 2024 IPO size records its highest growth in 2 years
QIPs saw a rise in both value and volume compared to the previous quarter, with 20 issues raising $2.3 billion. This marks the second-highest volume since Q4 2017. The retail and consumer sector led deal activity, with an 18% increase in value over Q1 2024, despite a 7% decrease in volume.
Zomato stops ‘Xtreme’ service; Reliance to bring back Shein
Zomato has halted its hyperlocal goods delivery service due to a lack of demand.
Purplle closes Rs 1,000 crore funding deal led by Abu Dhabi Investment Authority
Purplle has also announced a Employee Stock Ownership Plan (Esop) liquidity programme and will offer liquidity of Rs 50 crore to its employees. Company cofounder and CEO said they will constantly innovate their technology to provide the best for their customer. Purplle is one of the fastest-growing retailers in the beauty and personal care (BPC) segment, having grown its GMV by four times over the last three years.
Reliance shareholders approve retail unit's $4 billion lease to Jio Financial
JFS plans to acquire equipment worth 360 billion rupees from Reliance Retail, as the financial services provider plans to enter the device leasing business. Through the deal, JFS' unit - Jio Leasing Services - will buy customer premises equipment, devices and telecom equipment such as routers and cell phones.
Unstoppable bull run! Sensex, Nifty hit lifetime highs for 4th straight day on solid global cues
Nifty50 and Sensex reached new highs driven by banking and IT stocks amid expectations of a rate cut by the Federal Reserve.
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Reliance Retail starts ONDC pilot via retail platform Fynd
Reliance Retail, a subsidiary of Reliance Industries, has begun testing the government's Open Network for Digital Commerce (ONDC) through Fynd, an omnichannel retail platform in which Reliance holds an investment.
Reliance Retail plans 30-minute delivery model for quick commerce re-entry
Reliance Retail is re-entering the quick commerce market with a 30-minute delivery model, focusing on a wider assortment of products than existing players like Blinkit and Zepto. They will leverage their network of stores and kiranas, connected through the JioMart Partner initiative, for product sourcing. Unlike competitors, Reliance will not set up dark stores for under-ten-minute delivery but will optimize delivery routes using tech platforms like FYND and Locus. The venture will start with groceries and expand to apparel and electronics, utilizing the 19,000-plus store network.
Jio Financial plans Rs 36,000 cr deal with Reliance Retail
Jio Financial Services seeks shareholder approval for its unit to purchase telecom equipment worth Rs 36,000 crore from Reliance Retail. The move signals JFS's entry into the device leasing business. The deal involves Jio Leasing Services buying routers and cell phones for rental to Reliance Jio Infocomm customers. Voting concludes on June 22, with the deal anticipated to finalize in the financial years 2025 and 2026.
Stocks in news: Vodafone Idea, Biocon, PB Fintech, ZEEL, JSW Steel
Shares of ZEEL, JSW Steel, Godrej Industries, Glaxo and Sobha will be in focus as the companies will announce their quarterly results.
Uber ups hyperlocal deliveries as quick commerce takes off
Delivers prepaid items from kirana stores; offers service in NCR, Bengaluru, Chennai, Hyderabad, Jaipur, Lucknow, Kolkata, Guwahati and Ludhiana
Uber’s hyperlocal push; Paytm Bank’s bill pay biz transferred
Happy Thursday! Ride-hailing platform Uber is strengthening its hyperlocal deliveries from neighbourhood stores. This and more in today’s ETtech Morning Dispatch.
ADIA, KKR book a $1.5b space in Reliance Retail warehouse
ADIA and KKR invest $1.5 billion in RRVL's warehousing assets, managed by RPPMSL. RRVL transfers assets to RLWH. Financial details include debt, NCDs, and equity. RRVL's growth supported by investments and strategic partnerships.
Is hyper competition from Reliance Retail and Amazon over for them? 4 retailer stocks; 2 with an upside potential above 21%
Retail is one sector where even the best of the names of the India Inc have failed to taste success. It is not only the story in India, but globally. An industry where survival rate is not very high and the worst part, even after staying in business for decades, suddenly they go down under. Most prominent one which went down after years of existence is the Future group of companies. The players who have managed to survive, should better be bought back on the watchlist as there may be another round of re-rating when Reliance retail goes public.
M&A deal value surged 60% q-o-q to $19.6 billion in Q1 2024, says PwC India report
Sector-wise, traditional sectors took the lead, drawing significant investments in the changing deal-making scenario. The media and entertainment sector topped the charts in terms of value, while the retail and consumer sectors continue to lead in terms of deal volume.
Reliance partners with Sri Lanka's Elephant House to intensify fight against Coke & Pepsi
Reliance Elephant House Deal: Reliance's FMCG arm, RCPL, has partnered with Elephant House, owned by Ceylon Cold Stores PLC, to introduce a range of beverages in India, expanding its diverse FMCG portfolio.
Flipkart looking to buy Reliance-backed Dunzo: report
While talks are still ongoing, complexities surrounding Dunzo's ownership structure have impeded the two parties from coming to an understanding over a deal, the report said.
Deals in consumer, retail fell by a third in 2023, transaction value down 9% - Grant Thornton Bharat
Deals within ecommerce nearly halved by value to 3.3 billion while the number fell 70% to 124 deals. Apparel and retail, however, saw deal transaction surge seven times, led by Reliance Retail which raised nearly $1.6 billion from Qatar Investment Authority and Abu Dhabi Investment Authority. Lenskart also received a funding of $500 million during the first half of 2023, followed by M&G Plc, Lightspeed Venture Partners and DST Global buying a stake in Udaan last month.
2023 Year In Review: quick commerce was lapped up by the urban public, but has a long way to go
While executives in the industry said that the public demand for quick commerce had been established, especially in urban and high-population-density areas, the key task in 2024 would be to improve profitability and experiment with various categories as well as sale events.
PhonePe explored investment in Dunzo’s merchant business
However, Dunzo investors were not in favour due to strategic nature of Walmart-backed company.
Dunzo’s survival hinges on Reliance Retail commitment to funds
An impasse after several rounds of discussions has left Dunzo’s other investors increasingly sceptical of its chances of survival in the absence of fresh funding soon, said multiple people briefed on the situation.
How PhonePe's plan to invest in Dunzo hit a roadblock; Slice seeks fresh funds
PhonePe was interested in acquiring the merchant network and quickly tapped into it for Pincode. It has been spending on customer acquisitions and discounts on the separate platform to acquire more users.
Dunzo’s survival hinges on Reliance; Q&A with Instacart founder Apoorva Mehta
Reliance Retail, which is an investor in Dunzo, is yet to sign off on a much-needed capital infusion in the cash-strapped company. All about this and more, in today’s Morning Dispatch.
Reliance Retail and Naturals Salon call off deal talks
Reliance Retail and Naturals Salon & Spa have terminated their acquisition discussions due to disparities in valuation, according to sources. Reliance Retail was negotiating to acquire a 49% stake in Naturals, a deal that would have marked its entry into the salon industry. Naturals Salon & Spa, with nearly 700 outlets in India, is among the top five national salon chains. The withdrawal was attributed to potential synergy mismatches and differing preferences.
Dunzo FY23 loss widens to Rs 1,800 crore, revenue jumps 4x to Rs 226 crore
The Reliance Retail-backed firm, which has sharply shrunk its operations and laid off hundreds of employees over the course of this year, saw its total expenses jump to Rs 2,054.4 crore in FY23, against the Rs 531.7 crore in FY22.
Dunzo board, investors vet key costs to keep cash flow in check
This comes at a time when the Reliance Retail-backed firm has been struggling to manage its cash flow and has several dues pending towards vendors as well as staff salaries.
Dunzo valuation may drop to $200 million, firm seeks nod for rights issue
While a few of the existing investors have committed around $10-15 million in capital at the reduced valuation, the company’s board is yet to clear the proposal.
Dunzo delays payment of August salaries for some staff till end of this week
Dunzo has been struggling to close essential new financing as a difference in the scope of valuation between its investors has emerged as a roadblock, ET reported on August 22. Over the last eight months, the company has fired close to 400 employees.
Markdown detour slows fresh funds delivery to Dunzo
Reliance Retail, the largest investor with 26% stake in Dunzo, is averse to the idea of slashing the valuation of the startup by nearly 50% in a fresh funding deal being stitched together by a set of existing investors.
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