Latest news with #Reliance
India.com
13 hours ago
- Business
- India.com
Mukesh Ambani and Isha Ambani make big move, Reliance Retail to sell ready-to-cook items with...
Mukesh Ambani and Isha Ambani make big move, Reliance Retail to sell ready-to-cook items with... Packaged spices and seasoning company ZOFF Foods has inked a strategic partnership with Reliance Retail and entered the ready-to-cook foods segment, the company said on Thursday. ZOFF Foods partners with Reliance Retail to enter the Rs 5,000 crore ready-to-cook market. Products to be available across 400+ Reliance stores and online platforms. The move targets evolving consumer needs and growing demand in the convenience food segment. It said its products will be available on Reliance Retail outlets as well as its own e-commerce platform and would be introduced on other e-commerce and q-commerce platforms. Akash Agrawalla, co-founder, ZOFF Foods, said that the products address 'evolving needs of today's home cooks'. He said the partnership with Reliance Retail would enable the brand to reach over 400 stores by next month. The Indian ready-to-cook meals' market size is estimated at Rs 5,000 crore, growing about 7-8% per annum. The category is seeing interest from both large companies–which are foraying into this space–as well as newer brands who are leveraging q-commerce and e-commerce for discoverability and reach.
Yahoo
a day ago
- Business
- Yahoo
Jio Financial takes full ownership of Jio Payments Bank
Jio Financial Services (JFSL) has acquired the entire 17.8% stake held by the State Bank of India in Jio Payments Bank. This makes the digital bank a wholly-owned subsidiary of JFSL. Initially, Jio Payments Bank was a joint venture between JFSL, which held 82.17%, and SBI. The deal, valued at Rs1.04bn ($12.05m), received approval from the Reserve Bank of India earlier this month. The acquisition was announced in March, when it was said that it involves a total of 7,90,80,000 equity shares. This acquisition marks a major corporate restructuring for JFSL, as Jio Payments Bank is now fully integrated under Reliance's financial umbrella. The move is seen as part of Reliance's broader strategy to gain complete control over its fintech operations. Days before this announcement, Jio BlackRock Mutual Fund launched Aladdin, a global risk-management platform in India. This platform is part of a 50:50 joint venture between JFSL and BlackRock. Full ownership of Jio Payments Bank provides JFSL with greater autonomy in integrating digital banking with other financial services. The synergy between Jio Payments Bank and Jio BlackRock Mutual Fund could foster a unified digital finance ecosystem. This strategic alignment supports Jio's digital-first, data-driven approach, leveraging BlackRock's investment expertise. The introduction of Aladdin represents the first time this advanced analytics and risk management platform is being made available in India. Meanwhile, in October 2024, JFSL announced that the upgraded version of the JioFinance App is available on the Google Play Store, Apple App Store, and MyJio. "Jio Financial takes full ownership of Jio Payments Bank" was originally created and published by Retail Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Hindu
a day ago
- Business
- The Hindu
Ambani heirs have combined net worth of over ₹7 lakh crore: 360 One Wealth Creators Report
Akash and Anant Ambani took the top spot as the richest Indians in 360 One Wealth Management firm's first wealth creators list with a combined net worth of ₹7.18 lakh crore, signalling that the next generation in the elite business families is taking over. The company's list, prepared in association with Crisil, is based on publicly available data of promoter shareholding in companies and trusts. The list, which takes into account individuals with a minimum net worth of ₹5 billion, has 2,013 wealth creators, with a combined net worth of approximately ₹100 lakh crore, which is about a third of the country's GDP. Reliance, Tata and Adani were the richest groups, contributing nearly a quarter of the total promoter wealth in India.
Time of India
a day ago
- Business
- Time of India
Challenging Coca-Cola & PepsiCo: Reliance to invest up to Rs 8,000 crore in Campa, beverages expansion over next 15 months
Challenging Coca-Cola & PepsiCo: Reliance to invest up to Rs 8,000 crore in Campa, beverages expansion over next 15 months Reliance Consumer Products (RCPL), the FMCG arm of Mukesh Ambani-led Reliance Retail, is set to invest between Rs 6,000 crore and Rs 8,000 crore over the next 12–15 months to scale up its beverage portfolio, including the iconic Campa brand. The move marks RCPL's most significant capital outlay since its launch in 2022. According to a ET report, the investment will support the addition of 10–12 new greenfield and co-packing plants across India, a move aimed at challenging established players like Coca-Cola and PepsiCo, as well as low-cost regional competitors. "The capex is being done on a combined investment of Rs 6,000–8,000 crore by Reliance and some of its partners," a senior executive told the publication. RCPL's beverage portfolio includes Campa Cola, Orange and Lemon, Sosyo, Sun Crush juices, the Spinner sports drink co-created with former Sri Lankan cricketer Muttiah Muralitharan, and the fruit-based hydration brand RasKik. The company is also setting up a facility in Bihar, in addition to the plant in Guwahati built in partnership with Jericho Foods and Beverages to serve the Northeast. Spinner is priced aggressively at Rs 10 for a 250ml bottle, less than half the cost of rival drinks like Gatorade and Sting, demonstrating RCPL's strategy to undercut the market. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 유일한 공식 무료 SOC 게임! 설치도 없습니다! 경복의 바다 다운로드 Undo 'RCPL is focusing on 600 million mass consumers and is working closely with neighbourhood stores by giving them margins at today's cost,' RCPL Director T Krishnakumar had earlier told ET in an exclusive interview. So far, RCPL beverages are produced in 18 co-invested plants. While the company's distribution remains selective, Reliance plans to make its consumer products available nationally by March 2027, with about 70% coverage by March 2026 for key categories like beverages, Krishnakumar said. The broader consumer portfolio includes Sil jams and spreads, Lotus Chocolate, Toffeeman and Ravalgaon confectionery, Alan's Bugles snacks, Velvette personal care products, and the Independence staples range. Notably, most of the company's 15 brands have been acquired since its entry into FMCG in 2022. As per news agency PTI, RCPL's revenue in FY25 touched Rs 11,500 crore, making it the fastest-growing vertical within Reliance Retail. Campa and Independence brands each surpassed Rs 1,000 crore in sales, contributing to RCPL's 3.5X year-on-year growth. Reliance Retail CFO Dinesh Taluja said during an earnings call that Campa has already achieved a double-digit market share in its available regions. The company now reaches over one million retail outlets via a network of 3,200+ distributors, and has begun exploring export opportunities in select international markets. Despite a weather-affected summer, India's beverage market, estimated at Rs 67,000 crore, is projected to more than double to Rs 1.47 lakh crore by 2030, according to think tank ICRIER. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
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Business Standard
2 days ago
- Business
- Business Standard
Reliance to invest up to ₹8,000 crore to expand beverage business
Fast-moving consumer goods (FMCG) arm of Reliance Retail Ventures, Reliance Consumer Products Ltd (RCPL), is set to invest between ₹6,000-₹8,000 crore over the next 12-15 months to expand its beverage manufacturing capacity, according to a report by The Economic Times. The investment, which would be Reliance's most significant capital outlay in the consumer products space to date, will reportedly fund the addition of nearly 10 to 12 new manufacturing facilities across India. This will include greenfield plants and co-packing facilities operated with partners. This marks Reliance' largest investment in the consumer products sector to date, and is intended to boost competitiveness against Coca-Cola, PepsiCo, and regional brands. According to the report, a major portion of the new investment will go into joint ventures. A plant was opened earlier this year in Guwahati with Jericho Foods and Beverages LLP, and another is reportedly under construction in Bihar. Reliance Consumer Products was launched in 2022 as a wholly owned subsidiary of Reliance Retail. Its portfolio spans a growing number of popular beverages under brands like Campa Cola, Sosyo, Spinner, RasKik, and Independence, as well as packaged foods and personal care products under labels such as Sil, Lotus Chocolate, and Ravalgaon. The company currently manufactures beverages across 18 plants, all of which are run through joint investments. Spinner, a ₹10 sports drink brand launched with former Sri Lankan cricketer Muttiah Muralitharan, is among the newer offerings aimed at undercutting established players like Gatorade and Sting. Reliance Consumer Products targets the lower end of the consumer market with a pricing strategy that undercuts rivals by 20 to 40 per cent. The company aims for full national availability by March 2027, with beverages reaching 70 per cent coverage by March 2026. Reliance Consumer Products reported ₹11,500 crore in revenue in 2024-25, with Campa and Independence each crossing ₹1,000 crore in sales, despite summer sales being impacted by early monsoon rains.
