There are many high-profit companies acquired by Reliance Industries Ltd. (RIL). The company has made many acquisitions within the past three years to boost the product offerings of its subsidiaries. Reliance Jio Infocomm Ltd. and Reliance Retail Ltd., among others. RIL has held more than $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.
Deon the acquisitions by Reliance Industries clearly project RIL’s aspiration to be counted among the top 20 companies in the world. Apart from refining and petrochemicals, Reliance Jio and Reliance Retail could play a part in achieving the feat. Within 2 years, Reliance acquired companies such as Balaji Telefilms, EdCast, Embibe, Saavn, Radsys, Eros, Hathway, DEN, Haptik, Reverie, Fynd, Purple Panda Fashions, Clovia, Tesseract, and Grab.
Here is the list of Companies Acquired By Reliance Group:
35. Embibe
In 2018, Reliance Industries made an investment of $180 million in the ed-tech startup Embibe, which spanned over three years. This investment allowed Reliance Industries to acquire a stake of 72.69% from Embibe’s existing investors. Then, in April 2020, Bengaluru-based startup Embibe received a funding of INR 500 crores from Reliance Industries.
Aditi Avasthi is the founder and CEO of Embibe, which continues to lead the company post-acquisition and may operate it as an independent entity as well.
34. Fynd
Fynd became one of the fashion e-commerce platforms and was founded in 2012 by Farooq Adam, Harsh Shah, and Sreeraman MG. Fynd functions through an offline-to-online (O2O) model and directly sources products belonging to categories such as clothing, footwear, jewellery, and accessories from prominent brands to sell them in India.
Reliance has the latest acquisition, Fynd, which has an in-house product called the ‘Fynd Store’; store managers place an order 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 of 87.6% in Shopsense Retail Technologies Pvt. Ltd. for INR 295.25 crores $41.9 million.
33. Grab
In February 2019, RIL’s complete subsidiary Reliance Industrial Investments and Holdings Limited got equity shares of Grab A Grub Services Private Limited in a cash deal worth $14.9 million. At a later stage, the company is going to invest up to $5.63 million to complete the acquisition deal by March 2021.
Jignesh Patel, Nishant Vora, and Pratish Sanghvi established Grab in 2013. Grab provides services like on-demand deliveries, reverse deliveries, first-mile, and last-mile logistics. This has included McDonald’s, 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.
32. Haptik
Haptik has acquired 2019, RIL announced that Reliance Jio Digital Services Limited acquired artificial intelligence firm Haptik for INR 700 crores 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.
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.
31. Reverie
In April 2019, RIL holds a major stake in Reverie for INR 190 crores. Reverie will invest another INR 77 crores by March 2021. As a 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.
30. Saavn
In 2018, RIL declared a strategic merger of its digital music service JioMusic with the ‘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.
JioSaavn has more than 200 employees and operates out of offices in California, New York, Bangalore, Gurgaon, and Mumbai. The company is going to offer 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.
29. Purple Panda Fashions
Purple Panda Fashions was founded by Pankaj Vermani, Neha Kant, and Suman Choudhary in 2013. Purple Panda Fashions 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. ‘
28. Tesseract
In August 2019, Reliance held a stake of 92.7% stakes in Tesseract. The stake would be valued between INR 150 crores and INR 500 crores. Reliance also declared its mixed reality 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.
27. Den Networks and Hathway Cable & Datacom Ltd.
Reliance Jio held 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.
26. Hamleys
Reliance holds the Industries completed the acquisition of British toy retailer Hamleys for about INR 620 crores 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 has 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.
25. Netmeds
Reliance Industries Ltd. has held a majority stake in online pharmacy Netmeds for about $83 million in cash, days after e-commerce giant Amazon.com Inc. launched an online drug sales service in India.
Netmeds is one of India’s top online pharmacies that deals with a wide range of healthcare products like high-quality prescription medicines, over-the-counter pharmaceuticals, general healthcare products, Ayurvedic medicines, and homoeopathic medicines.
24. Asteria Aerospace
In December 2019, RIL acquired a 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 has made drone-based solutions to provide intelligence from aerial data for military use and industrial applications.
23. NowFloats Technologies
In December 2019, RSBVL also got an 85% stake in NowFloats Technologies Pvt. Ltd. for INR 141.63 crores having a proposal on making further investments of up to INR 75 crores. Nowfloats provides SaaS solutions to small and medium enterprises for building a digital presence.
22. Radisys
RIL acquired one of the open telecom solution providers Radisys in June 2020 for $74 million. This is majorly focused on enhancing Reliance Jio’s presence in the areas of 5G, the Internet of Things, and open-source architecture adoption.
Additionally, with these acquisitions, RIL has specifically made deals to amplify the occupancy of Reliance Jio by acquiring software companies namely Surajya Services and SankhyaSutra. Surajya Services.
21. Balaji Telefilms and Eros International
RIL has also been invested in the entertainment industry. The company has acquired a 24.9% stake in film and television production house Balaji Telefilms Ltd., the parent company of ALTBalaji with 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.
20. Urban Ladder
Reliance Retail purchased a 96% stake in Urban Ladder for over INR 182 crore in November 2020. The omnichannel furniture and decor retailer is focused on Bengaluru, has more than 3 stores in Bangalore, and boasts of distributing its products across more than 75 cities.
19. JustDial
JustDial is mainly a local search services platform, one of the oldest and most 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.
18. Milkbasket
This company is India’s first subscription-based micro-delivery service Milkbasket was established in 2015 by Anant Goel, Ashish Goel, Anurag Jain, and Yatish Talvadia. The delivery service platform was founded to deliver daily groceries, milk, and other everyday essentials.
17. Zivame
RIL having the subsidiary of Reliance Industries, Reliance Brands has bought 15% stakes in Zivame, the most trusted store for women’s undergarments. Reliance had held a minority stake in the leading online lingerie brand in July 2020 and had also been mentioned that it would buy out Zivame sometime soon and could also pay close to INR 1,200 to materialize the deal.
16. Portico
Portico has been acquired 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.
15. Dunzo
Dunzo is one of the popular delivery service platforms from Bangalore. Dunzo was established in July 2014 by Kabeer Biswas, Ankur Agarwal, Dalvir Suri, and Mukund Jha, Dunzo is a 24×7 operating app that operates in more than 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.
14. Shri Kannan Departmental Store
Shri Kannan Departmental Store is a 20+ years old company that primarily retails fruits and vegetables, dairy products, and other essentials and operates 29 plus stores close to Coimbatore and that is nearby areas. Reliance Retail Ventures Ltd. has acquired this retail brand by acquiring 100% stakes in the firm for an amount of INR 152.5 crore.
13. Jaisuryas
Jaisuryas is mainly a leading regional grocery chain that operates in the Southern part of India. Reliance Industries acquired Jaisuryas in an undisclosed deal.
12. Kalanikethan
Kalanikethan has become a leading retailer of sarees and ethnic wear that operates in many cities in South India. Kalanikethan is mainly another startup that currently standing held by Reliance to fill up the gaps in some of the smaller markets in the south of the country.
11. Abraham & Thakore
David Abraham and Rakesh Thakore launched Abraham & Thakore in 1992, who were soon joined by Kevin Nigli. Abraham & Thakore is rooted in the fashion industry, which believes in making weaving and designs unconventional and appealing to the masses!
10. Ritu Kumar
Reliance Industries had already held Manish Malhotra, as it acquired Ritu Kumar. This time it 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, this is India’s oldest fashion house on October 15, 2021.
9. Manish Malhotra
Manish Malhotra is one of the eponymous fashion brands of the celebrated Indian fashion designer, couturier, costume stylist, entrepreneur, filmmaker, and revivalist based in Mumbai, India. This is one of the rages in the Indian fashion market as well.
8. AK-OK
Anamika Khanna is a popular Indian couturier, that successfully blended traditional Indian textiles and techniques with Western silhouette and tailoring. The celebrity Indian fashion designer running her eponymous brand AK-OK, with 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.
7. Genesis Colors
Reliance holds 16.31% worth of stakes in Genesis Colors. Reliance Retail Ventures Ltd a subsidiary of Reliance materialized the deal for INR 34.80 crore on 10th September 2018. The Mukesh-Ambani-led company further took 9.44% stakes in the same company on 8th February 2019. Reliance has stood as an owner of 29.07% stakes of the Genesis Colors.
6. Future101 Design
Future 101 Design is definitely across the same time while Reliance has 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 8th February 2019. The Gurgaon-based fashion brand designs and manufactures apparel that contains hand-crafted breeches, suits, jackets, skirts, pants, sarees, and more.
5. Addverb Technologies
Addverb Technologies is the robotics firm established in June 2016 by Sangeet Kumar, Prateek Jain, Bir Singh and Satish Kumar Shukla that holds the products in 4 verticals like robotics, automated storage, and retrieval systems, picking, and software. Reliance acquired majority stakes of 55% in Addverb Technologies
4. Portico
Reliance has held a minority stake in Portico and has already announced buying a majority stake of 37.7% in the home fashion brand, as of the reports dated 6th July 2021.
3. Amante
Reliance has declared to acquire 100% stakes in the Amante brand from MAS, according to the joint statement issued by the two companies. It was established in October 2007, Amante is a part of MAS Brands, a subsidiary of MAS Holdings.
2. Rahul Mishra
Rahul Mishra is one of the reputed Indian designers, hailed as the first Indian designer to showcase at Paris Haute Couture Week. Reliance made a partnership with Rahul Mishra on 31st JANUARY 2022, this has targeted for 60:40 joint venture with the designer’s firm. Reliance Brands Limited, a subsidiary of Reliance currently owns 60% stakes in Rahul Mishra’s company.
1. Lithium Werks
Lithium Werks has been the asset acquired by Reliance New Energy, with a completely owned subsidiary of RIL, in a deal 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.
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FAQ
<strong><em>Which is the highest profitable company acquired by Jio?</em></strong>
Lithium Werks
<strong>Where can I find more information about high-profit companies acquired by the Reliance Group?</strong>
You can find more information about high-profit companies acquired by the Reliance Group through official announcements, press releases, financial reports, and news articles covering the Indian business and finance sectors.
<strong>Does Reliance Group plan to continue making acquisitions in the future?</strong>
While specific plans for future acquisitions may vary, Reliance Group continues to explore opportunities for strategic investments and acquisitions that align with its long-term growth objectives.
<strong>What is the long-term outlook for Reliance Group's acquisition strategy?</strong>
Reliance Group’s acquisition strategy is aimed at further strengthening its position as a leading conglomerate in India and globally, and the long-term outlook depends on its ability to successfully integrate acquired companies and sustain growth momentum.
<strong>Where can I find more information about Reliance Group's acquisitions?</strong>
More information about Reliance Group’s acquisitions can be found through official announcements, press releases, financial reports, and news articles covering the conglomerate’s business activities and developments.
<strong>What impact do these acquisitions have on the Indian economy?</strong>
Acquisitions by Reliance Group contribute to the Indian economy by creating jobs, driving innovation, fostering competition, attracting foreign investment, and spurring economic growth in various sectors.
<strong>What are the long-term goals of Reliance Group with its acquisitions?</strong>
The long-term goals of Reliance Group with its acquisitions include strengthening its position as a leading player in key industries, driving innovation and technological advancements, and delivering value to shareholders and customers.
<strong>What was the strategic reason behind Reliance's acquisition of Hamleys?</strong>
Reliance acquired Hamleys to strengthen its retail presence in the global and domestic toy market, capitalizing on the iconic brand’s legacy and international reach.
