Happy Media

Firstpost June 4, 2020 New Delhi:  Reliance Industries mega Rs 53,124 crore rights issue is the largest in the world by a non-financial issuer in the last 10 years, an analyst said. Oil-to-telecom conglomerate Reliance Industries Ltd's rights issue opened for the subscription of shareholders on 20 May 20 and will close on Wednesday. According to data from Dealogic, the issue is the biggest in the world by a non-financial issuer in the last 10 years. The only other non-financial issuer close to the issue size is $7.002 billion issue by Bayer AG in June 2018. Billionaire Mukesh Ambani's firm had on 30 April announced fund raising of Rs 53,125 crore by way of a 1:15 rights issue -- India's biggest and the first such issue by the firm in nearly three decades. One share will be offered for every 15 shares held at Rs 1,257, a 14 per cent discount to the closing price for 30 April. The issue had been over-subscribed 1.1 times as of Monday, according to stock excha...

Deccan Chronicle May 26, 2020 Author: ANNIE THOMAS Weeks after Mukesh Ambani signed a deal between JioMart and Facebook, the self-declared kirana store aggregator has launched its services in 200 cities, including small cities such as Bhatinda, Mysuru and Dehradun, but without taking the neighbourhood stores on board. A pilot project launched last month in Navi Mumbai, Thane and Kalyan, all suburbs of Mumbai, included kirana stores as well as JioMart’s own warehouses; but now with the national launch, the kirana stores are nowhere in the picture at present. Currently, grocery orders placed on the JioMart website are serviced by Reliance Smart and Fresh stores and Reliance Retail’s Sahakari Bhandar stores, not neighbourhood shops, PTI quoted the financial services company Credit Suisse as saying. “Just prior to the national launch, Reliance Retail tapped the WhatsApp customer base in the three pilot regions to source orders. In our view, it was just a test phase ...