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Reliance Retail includes Ambani's core retail businesses, including digital and brick-and-mortar stores. It is fully owned by Reliance Retail Ventures, which also houses other retail operations such as international partnerships and the billionaire's consumer goods business. In 2020, Reliance Retail Ventures raised 472.65 billion Indian rupees ($5.72 billion) by selling a 10.09% stake, valuing it at roughly $57 billion based on current exchange rates. EY valued Reliance Retail at 884.03 rupees per share, while BDO valued it at 849.08 rupees, the source said. Reliance Retail has in recent years partnered with a slew of global brands to launch and expand their presence in India.

Persons: Mukesh Ambani, valuers, Ambani, Tiffany, Aditya Kalra, Sriram, Chris Thomas, Savio D'Souza, Louise Heavens, Mark Potter Organizations: Reliance, Reuters, BDO, EY, Reliance Retail Ventures, KKR, Saudi Public Investment Fund, General Atlantic, Reliance Retail, Burberry, Thomson Locations: DELHI, India, New Delhi, Mumbai, Bengaluru

Byju's leadership is in talks with the investors to try to convince them to reverse their decision, the three sources, who declined to be named as the talks are private, told Reuters. Its rise was seen as a boost for India's startup scene as investors including General Atlantic made big bets on Byju's. Two of the sources said the investors took the decision collectively to resign from the board as they were not getting answers from Byju's founder and senior management. The departures mean Byju's board is now only made up of its founder and chief executive Byju Raveendran, his wife Divya Gokulnath, and his brother Riju Raveendran. While the investors are holding talks with Byju's, it has not yet been decided whether or not their decision to resign would change, one of the sources added.

Persons: Chan Zuckerberg, Byju's, Byju Raveendran, Divya Gokulnath, Riju Raveendran, Aditya Kalra, Alexander Smith Organizations: Peak XV Partners, Sequoia Capital, Deloitte, Reuters, Byju's, General Atlantic, Thomson Locations: DELHI, Sequoia Capital India, U.S

India's largest ever secondary share sale attracted participation from anchor investors including Maybank Securities and Abu Dhabi Investment Authority, as well as India's HDFC Life Insurance and state-backed Life Insurance Corporation (LIFI.NS). By Tuesday the overall share sale was fully subscribed as foreign institutional investors and corporate funds flooded in, although participation by retail investors and Adani Enterprises (ADEL.NS) employees remained low. Support for Adani's share sale came even as the flagship's shares closed at 2,973.9 rupees, up nearly 3% but below the lower end of the sale price band of 3,112 rupees. So, what happens to one particular corporate group, is a matter between the market and the corporate group." Reuters GraphicsHindenburg said in its report it had shorted U.S.-bonds and non-India traded derivatives of the Adani Group.

[1/5] Indian billionaire Gautam Adani speaks during an inauguration ceremony after the Adani Group completed the purchase of Haifa Port earlier in January 2023, in Haifa port, Israel January 31, 2023. REUTERS/Amir CohenSummarySummary Companies Adani scripts comeback by completing share saleKey $2.5 billion share sale fully subscribed-dataShort-seller's report led to fall in Adani sharesMUMBAI, Jan 31 (Reuters) - Gautam Adani's crucial $2.5 billion share sale was fully subscribed on Tuesday as investors pumped funds into his flagship firm, despite a $65 billion rout in the Indian billionaire's stocks sparked by a short-seller's report. Support for Adani's share sale came even as the flagship's shares closed at 2,973.9 rupees, up nearly 3% but below the lower end of the sale price band of 3,112 rupees. So, what happens to one particular corporate group, is a matter between the market and the corporate group." Hindenburg said in its report it had shorted U.S.-bonds and non-India traded derivatives of the Adani Group.

An employee carries Bira beer cans to deliver them to a customer at a liquor store in Mumbai, India March 23, 2018. Started in 2015, Bira is one of India's most popular craft beer makers. It competes with international brands such as Carlsberg (CARLb.CO) as well as Heineken-owned (HEIN.AS) United Breweries (UBBW.NS) in India's estimated $5 billion beer market. Kirin owns a stake in New York's Brooklyn Brewery, and its subsidiary owns U.S.-based craft beer makers New Belgium Brewing and Bell's Brewery. With five breweries in India, Bira says its beer is available in 500 towns and cities in 15 countries.

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