Our Terms & Conditions | Our Privacy Policy
Reliance Industries, which has spent about $6-7 billion in acquisitions over the last 4-5 years, is likely to spend that same amount or even top that in the next 3-4 years, with a significant amount on the new energy and retail businesses, sources said.
The Mukesh Ambani conglomerate has spent close to $7 billion in making acquisitions – part or full stakes – during the years 2019 to 2024 so far, according to data provided by Tracxn, exchange filings and press releases issued. This is around a tenth of the total capex of ₹5.76 lakh crore (close to $69 billion) that it has spent in the years FY20 to FY24.
Sources said that RIL would likely be spending a similar amount or even more on acquisitions over the next 3-4 years, with a significant amount of the expenditure – for acquisitions – for its new energy business as well as Reliance Retail Ventures, both businesses that it is looking to scale up.
- Also read: ZETWERK raises $90m in latest funding round, hits $3.1b valuation
RIL did not respond to emails seeking clarifications on both the amount spent so far on acquisitions and future expenditure.
At RIL’s annual general meeting in August, Ambani had said that he aimed to double the size of the conglomerate, and it would be achieved by doubling the revenue and Ebitda of key businesses such as Jio and Retail over the next 3-4 years. Sources said acquisitions would play a key part here.
Acquisitions
Around $1.3 billion has been spent by the parent company RIL spent in various acquisitions over the last 5 years, the data from Tracxn showed. Some of its bigger acquisitions over years has been that of Sintex Industries, Shubhalakshmi Polyesters, Faradion, Stoke Park, and Fynd.
Reliance Retail has spent over $1.4 billion in acquisition of leading brands such as directory assistance and search engine Just Dial, lingerie seller Clovia, furniture retailer Urban Ladder, online pharmacy retailer Netmeds.com, V Retail, Ravalgaon, Metro Cash & Carry and so on.
RIL has already spent over $1.5 billion in in acquisitions for its new energy business. Most of the acquisitions are global technology innovation companies that will be strategic contributors to its new energy vertical when it commences operations next fiscal year.
The biggest acquisition was Norway’s REC Solar Holdings AS that it acquired for $771 million in 2021 with the intention of expanding its operations in the US, Europe, Australia, and other countries in Asia. The other major acquisition was in 2022 in India, when it acquired a significant stake in Sterling and Wilson Renewable Energy for $285 million from the Shapoorji Pallonji group.
Another significant acquisition of RIL was that of Star India through a merger with Viacom18 and the Walt Disney Company for a deal value of $3.1 billion.
SHARE
Published on December 19, 2024
Images are for reference only.Images and contents gathered automatic from google or 3rd party sources.All rights on the images and contents are with their legal original owners.
Aggregated From –
Comments are closed.