“Reliance Industries will pay creditors when the payment is due. On September 9, Reliance Industries’ retail arm, Reliance Retail Ventures Ltd, sold a 1.75% stake for ₹7,500 crore to private equity firm Silver Lake Partners. Last month, Reliance Retail Ventures acquired the retail and wholesale business and the logistics and warehousing business from Future Group for ₹24,713 crore. Reliance Retail is India’s largest physical retailer with operations across grocery, apparel, electronics and fuel retailing. “This should help Reliance Industries improve its reach and business momentum.

Source: Hindustan Times September 13, 2020 17:54 UTC