The 63-year-old business tycoon seeks to widen his retail footprint in the Indian market at an uncertain time, especially when the space is hot for global players such as Amazon as well as local rivals. Several companies have already made it to the billionaire’s shopping cart.
- Reliance Industries boss Mukesh Ambani bought Britain’s most iconic country club, Stoke Park for $79 million (₹592 Crores).
- RIL invested in more than 100 companies over the past five years and looks to continue its buying spree in 2021 too.
- Reliance Industries is in different negotiation levels to either buy out or purchase shares in Urban Ladder, Zivame, and Netmeds.
- Since, 2017, Ambani has been on a hunt for deals after his series of noteworthy purchases – Hamleys, Grab a Grub Services, Saavn, Haptik artificial intelligence chatbot.
Indian conglomerate Mukesh Ambani seems to be feeding off the confidence from back-to-back acquisitions. This indicates a better economic revival percentage, even in an uncertain time like the present. Asia’s richest man spent the early few months last year amid the pandemic selling his stakes in RIL’s tech venture and raising over $20 billion (₹200 Crores). Though, his mergers and acquisition team has been busy for the past five years, now more than ever it looks like RIL is on a big shopping spree.
The Indian billionaire looks to acquire quite a few local e-retailers. Mainly, to expand his product offerings in a race to build his e-commerce platform and also win against biggest rival Amazon.com Inc. Now, the Reliance Industries, Ambani’s retail and telecommunications conglomerate is in different levels of negotiations with several firms. Mostly, to either completely buy out or buy shares in Urban Ladder, Zivame, and Netmeds. Though, experts say that there is yet no certainty that the attempts to acquire majority stakes in these companies may finally result in a fruitful deal or not.
Mukesh Ambani’s mergers and acquisition team has never been in his time has the RIL boss.
Ambani spreads his Wings
The business tycoon is aiming at widening his retail reach in India, especially to win against Amazon as well as the local players. Last year, the business mogul even partnered with Facebook Inc. and Google. Industry experts indicate that one particular retail organization taking up one acquisition after the other clearly indicates that Reliance is aiming to be a clear number one.
According to local media reports, Reliance could be willing to pay over $150 million for Bengaluru-based Zivame and about $30 million for the online furniture seller, the Urban Ladder. Also, Ambani is looking to shell out another $120 million for the online medicine delivery services company, Netmeds. Even, Milkbasket which is a milk delivery company is also one of RIL’s targets.
Watch: RIL’s 620 crore acquisition of Netmeds
Reliance Industries seems to be scouting for established firms across sectors such as technology firms into Blockchain, Cloud, Augmented Reality (AR), online multiplayer gaming, mixed reality (MR), multi-party videoconferencing, Artificial Intelligence (AI), gaming, and banking software. The Ambani-led company is also looking at investing in the supply chain, chemicals, energy, and logistics among others. In fact, most Reliance Industries watchers wonder what all of these mergers and acquisition means in the long term and what Ambani is really up to.
Future deals that Ambani eyes
Even amid controversy around the Chinese social media giant TikTok, Mukesh Ambani’s Reliance Industries was in talks with the TikTok owner ByteDance to acquire its India business. Well, it is a different story that the popular video-sharing app was banned on June 29 last year over concerns of national security and data privacy. Within the past two years, Reliance Industries ambitions reflect in the number of acquisitions of companies like Fund, Grab, Embibe, Reveries, Tesseract, Asteria Aerospace, NowFloats Technologies, Balaji Telefilms and Eros International, Radisys, Den Networks, and Hathway Cable and Datacom, besides earlier mentioned Saavn, Hamleys, Saavn, Haptik, and Urban Ladder.
Watch: Mukesh Ambani’s takeover plans in the days ahead
Then, Reliance Jio and other subsidiaries of Reliance Industries are mostly set to continue the acquisition trend to retain leadership in India. Though, the effects of the acquisitions are yet to be seen from a perspective of an end-user.