Company's board to meet today on sale of retail arms to RIL
Robust omni-channel network in the offing, says Reliance Retail's FY20 annual report
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A source said the board would also look at the proposal to merge three other listed entities of the Future group with FEL
Former Indian Oil Corp (IOC) chairman Sanjiv Singh has joined Reliance Industries Ltd as Group President for billionaire Mukesh Ambani-run firm's oil-to-chemicals business.
The promoters had decided to keep their salaries at the current level three years ago.
The oil producer is a JV partner with Indian state-run oil refiners to set up a mega refinery, and also plans to pick a stake in RIL's O2C business
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As per a plan negotiated between Kishore Biyani, Indian lenders and RIL, banks will have to wait till RIL invests in Future Enterprises after three other group firms are merged into it
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Once the merger is complete, Reliance Industries will be investing Rs 8,500 crore in the merged entity, resulting in the Mukesh Ambani-led conglomerate owning close to 50 per cent in it
RIL may pick up 50% in merged entity
Promoted by Dadha Pharma, it is one of the earliest players in online pharmacy
The letter has also been addressed to Prime Minister Narendra Modi, Union Home Minister Amit Shah, Commerce and Industry Minister Piyush Goyal and other top ministers and government officials.
Netmeds latest in long list of firms in which it has picked up stakes
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Promoted by Dadha Pharma, Netmeds is one of the earliest players in online pharmacy having incorporated in 2015
The Netmeds acquisition will help it enter online drug sales, making it an integrated player. The firm has a ready customer base of 400 mn mobile users whom it could tap for its online health services