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
Boeing appoints Barun as head of FP&A for global engineering function
Seasoned finance leader to steer budgets and strategy across global centres
BENGALURU: Boeing’s finance cockpit has a new pilot, and he is no stranger to turbulence or transformation. Boeing has appointed Barun as head of FP&A for global engineering, placing him at the centre of financial strategy for its worldwide engineering and technology operations.
Based in Bengaluru, Barun steps into a role that is as expansive as it is critical. He will serve as the primary finance lead for Boeing’s Engineering and Technology Centers globally, working closely with executive leadership to shape financial decisions, manage complex budgets, and design scalable finance processes that support the company’s growing engineering footprint.
In a note announcing his move Barun said, “I’m excited to share that I’ve joined Boeing Global Engineering. This opportunity is incredibly meaningful to me not just from a professional standpoint, but also for what Boeing represents globally.” He added that he looks forward to contributing to an organisation that continues to shape the future of aerospace and innovation.
Barun’s mandate spans strategic financial leadership, operational oversight, and stakeholder engagement. From directing large-scale budgets and schedules to influencing long-term organisational goals, the role blends financial discipline with business foresight. He will also lead cross-functional teams and partner with finance colleagues worldwide to support engineering programmes across geographies, including India.
The appointment caps a long stint at Juniper Networks, where Barun spent over a decade, most recently as finance senior manager. There, he led FP&A for global product business units and G&A functions, driving budgeting, forecasting, and long-range planning. He also played a key role in enterprise-wide transformation, including spearheading an Oracle to SAP ERP migration and building advanced analytics capabilities using tools such as Tableau and SAP Analytics Cloud.
His earlier career includes finance leadership roles at Sony India Software Centre, Cognizant Technology Solutions, and Mphasis, where he focused on financial planning, governance frameworks, and operational efficiency across global delivery centres.
A chartered accountant from the Institute of Chartered Accountants of India, Barun brings nearly two decades of experience across financial planning, digital transformation, and analytics-led decision making.
His appointment comes at a time when global engineering operations are becoming increasingly complex and distributed, requiring sharper financial oversight and agile planning. With Barun at the helm of FP&A for engineering, Boeing appears to be tightening its financial playbook as it looks to scale innovation with discipline.
