Suvidhaa Infoserve to expand its presence in 100 cities and launch 20,000 franchisee outlets by March 2009.
Suvidhaa, promoted by Paresh Rajde and initially funded by Mr. Shapoor Pallonji Mistry, will use the new capital to aggressively expand its portfolio of service offerings into vertical markets throughout India and enhance business development and marketing efforts.
Suvidhaa brings Services to the doorstep of the Indian consumer. Consumers can now walk into their neighbourhood convenience / kirana stores and purchase all kinds of every day Services such as railway ticketing, mobile recharge, air ticketing, insurance payment, bill payment, bus ticketing, loan origination, movie ticketing and hundreds of other services which are in the pipeline. Suvidhaa makes this S-Commerce possible through its proprietary technology platform which seamlessly integrates these kirana stores to the various Services Providers systems.
Continue reading RTVL and Norwest Venture Partners Invests in S-commerce Pioneer, Suvidhaa
The Anil Ambani group on Thursday wrote to the government saying it intended to launch criminal proceedings against exploration regulator V K Sibal for complaining he was facing threat to his life from the telecoms-to-power conglomerate.
In separate letters to the cabinet and home secretaries, the company said the allegations levelled by Sibal in his Tuesday letter to the government were frivolous, irresponsible, absurd and baseless.
Continue reading Anil Ambani group plans criminal suit against DGH
Reliance Anil Dhirubhai Ambani Group and Chinese handset maker Yulong are in advanced talks for a joint venture to sell dual mode mobile handsets in India. A deal on this is expected to be signed early next month.
Yulong sees a strategic fit with us as the R-ADAG offers both GSM and CDMA services through Reliance Communications, said Reliance Webstore CEO Sarup Chowdhary. Reliance Webstore is the retail arm of the group which runs its telecom business through R-COM. Yulong is a subsidiary of Hong Kong-listed China Wireless Technologies and manufacturer of dual mode handsets. The two players expect revenues of Rs 600 crore within five years of signing the deal.
Continue reading Reliance-ADAG in talks with China’s Yulong for Joint venture
DreamWorks’ backing includes 325 million dollar in bank debt and a matching equity investment of 325 million dollar from Spielberg’s 50 percent partner, India’s Reliance. Importantly, as part of DreamWorks’ recent distribution deal with Walt Disney Co., Disney will lend DreamWorks up to 175 million dollar to fund its movies. Although the 825 million dollar falls far short of the 1.25 billion dollar Spielberg had originally sought, DreamWorks was able to accomplish what most in Hollywood have been unable to do: secure new sources of film funding in financially precarious times. The funds will enable DreamWorks to make 18 to 20 films over the next three years.
Continue reading With Financing with R-ADAG, DreamWorks to Produce Six Movies a Year
Reliance Private Equity, an Anil Ambani Group company, today said it expects to close its first Rs 1,500-crore fund by the end of next month.
Fund raising work is in the process… We hope to close the fund by the end of September, Reliance Equity Advisors Chief Executive Officer Ramesh Venkat said.
The private equity player is talking to major banks and financial institutions, including Life Insurance Corporation, and hope to get commitment of about Rs 1,500 crore.
Continue reading Reliance Private Equity to close Rs 1,500 crore fund by end of Sept
Anil Dhirubhai Ambani, chairman of the Reliance Anil Dhirubhai Ambani Group, the parent company of Reliance Big Entertainment and Reliance BIG Pictures along with Steven Spielberg and Stacey Snider, the principal partners of DreamWorks Studios jointly announced today the completion of the first phase of funding for their new motion picture company, based in Los Angeles, California. They further announced that J.P.
Morgan Securities arranged the syndication of approximately $325 million of senior debt which Reliance Big Entertainment is matching with its equity commitment. The Walt Disney Studios, who will handle marketing and distribution for the studio, will also extend a loan to DreamWorks as part of the distribution deal.
Continue reading Dreamworks closes 1st phase of financing for R-ADAG
DreamWorks Studios has closed a film financing deal with Indian conglomerate Reliance ADA Group, the companies said on Monday.
JPMorgan Securities arranged the syndication of about 325 million dollar in financing to DreamWorks Studios, which is headed by Steven Spielberg and Stacey Snider. Reliance Big Entertainment, a division of Reliance ADA Group, is matching that amount.
Continue reading DreamWorks closes film financing deal with Reliance ADAG
Anil Ambani-led Reliance Airport Developers Ltd is on its way to picking up five airports in rural Maharashtra on a 95-year lease for only Rs 63 crore from the Maharashtra Industrial Development Corporation.
Government officials told TOI on Wednesday that the MIDC board had passed the proposal last week and recommended to the government that the five airports — in Yavatmal, Nanded, Latur, Osmanabad and Baramati — be leased at this price. MIDC officials said they could have got a more impressive price in a better economic scenario though state industries secretary A M Khan said the government was satisfied with the price it was getting.
Continue reading Reliance Airport gets five projects on lease in Maharashtra
Lowry Digital, a division of Adlabs Films and a member of Reliance Anil Dhirubhai Ambani Group (ADAG), was behind the restored footage of the Apollo 11 moon mission released by National Aeronautics and Space Administration (NASA) last week.
The video highlights from the mission, including images of Neil Armstrong and Edwin Buzz Aldrin stepping on to the lunar surface, were unveiled to commemorate the 40th anniversary of the Apollo 11 mission.
Continue reading Adlabs division Lowry Digital restored Apollo 11 footage
The Reliance Anil Dhirubhai Ambani Group has forayed into the cement business by announcing its plans to set up a 5 million tonne integrated plant and a grinding unit in Maharashtra with an investment of INR 2,250 crore.
Reliance Cementation, a part of the Ambani group on last Friday signed a MoU with the Maharashtra government. The cement unit will come up in Yavatmal district, while the grinding plant will be set up in Nagpur district.
Continue reading Reliance ADAG enter into cement with INR 2250 crore investments