Mukesh Ambani led RIL plans to buy these companies

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Mukesh Ambani-led Reliance Industries Ltd's deal-making spree hasn't ended yet. After selling stake in Jio Platforms to global tech giants and other big investors, he's now eyeing multiple takeovers in the tech and consumer business space. Reliance Industry is currently looking at investment in at least six different companies. Let's take a look at the list of companies RIL is in talks with for investment or future takeover.

Future Retail

RIL is in late-stage talks with Kishore Biyani-led Future Group to buy a controlling stake in its retail business, according to reports. The companies have supposedly reached a common accord regarding certain terms and conditions and a deal is likely to be announced soon. RIL might acquire Kishore Biyani-controlled Future Group's retail business for Rs 24,000-27,000 crore. RIL will also absorb Future Group's partnerships with foreign brands and retailers. The deal will make RIL the number one player in brick-and-mortar space in India across categories such as fashion, groceries, and merchandise.

TikTok

Amid controversy around Chinese social media giant TikTok, its owner ByteDance is in early-stage talks with Mukesh Ambani's Reliance Industries Ltd to financially back its India business. Both the companies started discussions in July but the final decision on the deal is yet to be taken. The popular video-sharing app, along with 58 other apps, was banned in India on June 29 over national security and data privacy concerns.
Investment in TikTok by India's biggest oil-to-retail conglomerate could save TikTok in one of its biggest markets. Before the ban in June, TikTok India had over 200 million subscribers and the company was valued at $3 billion.

Urban Ladder

In its plan to strengthen the company's presence in the e-commerce market in India, Mukesh Ambani's RIL is planning to acquire online furniture brand Urban Ladder, talks with whom are at an advanced stage, The Times of India reported. If the talks move to the final stage, RIL could peg the deal at around $30 million and pump in more money to expand its presence in the online consumer business.

Zivame

RIL's subsidiary Reliance Brands recently bought out the entire 15 per cent stake of Ronnie Screwvala-owned Unilazer Ventures in Zivame, which sells many luxury brands such as Diesel, Jimmy Choo, Tiffany and Mothercare in India. At present, Zodius is the largest shareholder in Zivame with about 60 per cent stake. Malaysian sovereign fund Khazanah Nasional Berhad owns about 25 per cent. The company is eying bigger pie in this thriving start-up, founded by Richa Kar in 2011. Zivame has 30-plus retail stores and a presence in more than 800 partner stores across the country.

Milkbasket

Milkbasket, which earlier held discussions with Amazon and Bigbasket, is also negotiating its valuation and talks with RIL are at an advanced stage. Milkbasket deals with over 9,000 products across different categories, including fruits, vegetables, FMCG, and dairy, and operates across Gurugram, Noida, Dwarka, Ghaziabad, Hyderabad, and Bengaluru, serving around 1.30 lakh households. RIL wants to cash in on the rise in demand for online grocery amid coronavirus outbreak.