With an aim to win the ongoing battle against online major Amazon for India’s hot e-commerce retail market, business magnate Mukesh Ambani has plans to acquire a number of e-commerce players, and thus, expand his retail footprint.
Mukesh Ambani’s Indian multinational conglomerate firm Reliance Industries Limited (RIL) is currently in discussions to acquire or buy stakes in Zivame (lingerie retailer), Urban Ladder (furniture brand) and Netmeds (e-pharma store).
While closing the deals, RIL could reportedly pay a whopping US $ 160 million for Zivame, US $ 120 million for Netmeds and nearly US $ 30 million for Urban Ladder.
Apparently, Milkbasket, the country’s first subscription-based micro-delivery platform, is also one of the targets.
It is also reported that Reliance is in talks to fully or partly acquire Future Group’s retail assets.
Mukesh has raised over US $ 20 billion by selling equity stake in Jio Platforms Limited, an Indian digital services firm and a subsidiary of RIL.
