MAM
Reliance Retail raises Rs 9,555 crore from PIF
MUMBAI: Reliance Retail Ventures Ltd (RRVL), a subsidiary of Reliance Industries, has raised Rs 9,555 crore from Saudi Arabia’s Public Investment Fund (PIF), taking its pre-money equity value to Rs 4,587 lakh crore.
This is the second investment by PIF in the Mukesh Ambani-led conglomerate. It had earlier acquired a 2.32 per cent stake in Jio platforms for Rs 11,367 crore.
The transaction, an official statement said, is in line with PIF's strategy as a leading global investor with a proven track record of investing in innovative and transformative companies globally and develop strong partnerships with leading groups in their respective markets. India's retail sector is one of the largest in the world and accounts for over 10 per cent of its gross domestic product (GDP) which presents meaningful growth potential.
Reliance Industries chairman and managing director Mukesh Ambani said, "We at Reliance have a long-standing relationship with the Kingdom of Saudi Arabia. PIF is at the forefront of the economic transformation of the Kingdom of Saudi Arabia. I welcome PIF as a valued partner in Reliance Retail and look forward to their sustained support and guidance as we continue our ambitious journey to transform India’s retail sector for enriching the lives of 1.3 billion Indians and millions of small merchants."
Yasir Al-Rumayyan, governor of PIF, said, "We are pleased to be furthering our trusted partnership with Reliance Industries. This transaction demonstrates PIF’s commitment to investing and partnering for the long-term with innovative businesses around the world that lead and transform their sectors.”
The investments come amid the ongoing festive season, which is primetime for the country's retail sector. Flush with these funds, Reliance is probably hoping to counter rivals like e-tailers Flipkart and Amazon.
Reliance Retail operates India's largest, fast-growing retail business, serving close to 640 million footfalls at its around 12,000 stores across the country.
Brands
Hiili names Sanjay Hemady as country manager India
Media veteran to drive digital decarbonisation push
MUMBAI: Climate tech firm Hiili has announced its entry into India, appointing industry veteran Sanjay Hemady as India country manager to steer its growth in one of the world’s fastest-expanding digital markets.
Hemady, a familiar name across India’s media and consulting circles, will lead Hiili’s India operations from Mumbai. His mandate is clear: help Indian companies measure, manage and reduce the carbon emissions generated by their digital services.
Hiili offers a scientifically validated platform, certified by the UC3M-Santander Big Data Institute, that enables businesses to improve the efficiency of their digital infrastructure while cutting emissions. As organisations race to meet ESG targets, the company positions itself as a practical bridge between climate pledges and measurable action.
“I’m happy to share that I’m starting a new position as country manager, India at Hiili,” Hemady said in a LinkedIn post, adding that the company aims to move beyond broad sustainability promises towards precise, science-based decarbonisation.
Hemady brings more than three decades of experience spanning print, television, radio and digital media. He has previously served as chief executive officer at HIT 95 FM, assistant general manager at CNBC TV18, and held leadership roles at MTV India and The Indian Express, among others. Most recently, he worked as an independent business consultant advising firms across media and technology.
With India’s digital economy expanding at pace, the environmental cost of data, streaming and online services is climbing quietly in the background. Hiili’s bet is that carbon efficiency will soon sit alongside cost efficiency in boardroom conversations.
For Hemady, the move marks a shift from selling airtime and ad inventory to championing climate accountability. If successful, Hiili’s India play could make digital growth not just faster, but cleaner too.
