The business tycoon and money magnet, Mukesh Ambani has made billions with his ventures under Reliance Industries Limited (RIL). With unbelievable turnovers, it came as a huge setback when the COVID-19 pandemic outbreak washed away a lot of money minting opportunities for RIL.
However, with his recent comeback, Ambani has planned on acquiring and buying stakes on these 5 major companies:
With the recent ban on Chinese apps, the social media platform has taken a huge blow. However, Mukesh Ambani has planned on buying and acquiring its Indian operation from the parent company ByteDance for $5 million.
#2 Urban Ladder
Next up, RIL is also planning on acquiring operations over the online furniture selling platform Urban Ladder for $30 million.
First, Reliance Industries Limited bought stakes of Ronnie Screwala on this popular online lingerie shop, Zivame. It is a popular online lingerie shop that made a name overnight for its unique filters and user-friendly features and after-sales. RIL bought out Screwwala’s stake on the lingerie retailer by 15 percent. And now Ambani wishes to expand over this website and buy the entire stake of the company by 100 percent. RIL is supposed to pay a lofty $165 million to Zivame to acquire the company operations.
#4 Big Bazaar
Kishore Biyani’s Future Group is also not left out by the eagle eye of Ambani. He has been eyeing on to buy controlling stakes of the Future Group’s retail wing. That includes the departmental stores’ chain Big Bazaar. The acquisition might add up to a magnanimous 28 thousand crores.
Online dairy seller Milk basket is currently operational in Noida, Dwarka, Gurgaon, Hyderabad, and Bengaluru. At present, they serve at least 1.50 lakhs households. Milkbasket had already talked and denied selling of stakes to Amazon and Big basket. At present they are looking at RIL with operation stakes to be sold for almost $15 million.
Looks like Mukesh Ambani has taken up the racecourse to win it and go above all the existing businessmen leading the country’s economy.