Anil Ambani’s Reliance Capital sells its stake in Paytm for $41 mn

paytm_tc_feAnil Ambani-controlled Reliance Capital Ltd has sold its nearly 1% stake in digital wallet company Paytm for Rs 275 crore ($41 million) to China’s Alibaba Group, a report by Press Trust of India stated, citing unnamed sources. Reliance Capital had put in Rs 10 crore for its investment in the wallet firm. Besides, the financial […]

Read more

Reliance Capital looking to sell its 1% stake in Paytm for $50-60 mn

Sell_think_feAnil Ambani-controlled Reliance Capital Ltd is reportedly in talks to sell its 1% stake in digital payments firm Paytm as it looks to trim its proprietary investment portfolio and monetise non-core assets. Press Trust of India reported, citing some people in the know of things, that the company was planning to raise Rs 335-402 crore […]

Read more

Reliance Entertainment picks stake in FunOnGo, launches entertainment app Chillx

Chillx_feAnil Ambani-owned Reliance Entertainment has picked a majority stake in digital content and distribution company FunOnGo Media & Entertainment LLP to enter the video-on-demand space. FunOnGo Media & Entertainment has developed a new over-the-top (OTT) Android app called Chillx. The all-in-one entertainment app offers users a mix of free and premium content including games, music […]

Read more

Property search aggregator Square Yards raises $12 mn from Fairwinds

FairwindsGurgaon-based property search aggregator Square Yards has secured Rs 80 crore ($12 million) from Fairwinds Asset Managers Ltd, which was previously known as Reliance Equity Advisors (India) Ltd. Square Yard, run by Square Yards Consulting Pvt. Ltd, will use the funds to enhance its distribution networks across Indian and global markets and to expand operations […]

Read more

RCom suspends launch of Facebook’s Free Basics after TRAI missive

VCCircle_Anil_Ambani200Bowing to regulatory pressure, Anil Ambani-controlled Reliance Communications Ltd has suspended the commercial launch of Facebook’s Free Basics initiative. “As directed by the Telecom Regulatory Authority of India (TRAI), the commercial launch of Free Basics has been kept in abeyance, till they consider all details and convey a specific approval,” an RCom spokesperson, said in […]

Read more

Reliance Entertainment invests in new media JV with Spielberg

Anil_Ambani003Anil Ambani-led Reliance Group has come in as a partner in a new global media entertainment joint venture with ace Hollywood director Steven Spielberg, Jeff Skoll’s Participant Media and LSE-listed Entertainment One. Christened Amblin Partners, the JV will create content using the Amblin, DreamWorks Pictures and Participant brands and leverage the network for distribution. Although […]

Read more

Luxuryhues raises under $1M from Reliance Capital

Anil Ambani-controlled Reliance Capital Ltd has invested Rs 6 crore ($903,000) in Luxuryhues.com, a Gurgaon-based marketing consultancy and shopping platform for luxury goods. “As part of our investment portfolio, we are providing seed capital of approximately Rs 6 crore only in Luxuryhues.com, a digital platform for selling affordable luxury goods and services. We have no plans […]

Read more