Reliance Retail eyeing on electronics chain in South India, could buy for Rs 3000 cr
By MYBRANDBOOK
Reliance Retail is on talking terms with a consumer durables retail chain Electronics Mart India, for a possible acquisition. Electronics Mart operates 60 stores in South India with 1,200 employees on its roll.
According to a source, close to the development, talks are underway on the valuation of the chain, and the asked price is Rs 3,000 crore.
Businessman Pavan Kumar Bajaj started the electronics chain in 1980 as “Bajaj Electronics”, and later changed its name to EMI Ltd.
The acquisition, if successful, will give a boost to Reliance Retail’s offline presence in South Indian markets. The Mukesh Ambani-led company recently acquired Future Retail, which also sells electronics from its stores. But the acquisition of an additional chain that has both online and offline presence will help Reliance Retail to scale up its electronics business faster in the South.
EMI competes with other chains like Tata-owned Chroma, Vijay Sales, and Kohinoor, and has a significant presence in Telangana and Andhra Pradesh.
Sources said a significant amount of money raised by Reliance Retail from investors like KKR and Silver Lake would be used by the company to acquire assets in India, adding value to its present set-up.
“The company is expecting more investors to come on board in the coming months and will be deploying funds in acquiring new markets,” a source said.
RIL operates its retail business via its subsidiary Reliance Retail Ventures (RRVL). The company is operating the consumer supply chain business and consumer retail business through its subsidiaries. RRVL reported a consolidated turnover of Rs 1.63 trillion and a net profit of Rs 5,448 crore for the year ended March 31, 2020.
Reliance Retail has big plans for the future, including an omni-channel play and greater association with farmers, manufacturers, and kirana store owners with the help of high-end technology.
BREAKING NEWS
TECHNO TRENDS
Legal Battle Over IT Act Intensifies Amid Musk’s India Plans
The outcome of the legal dispute between X Corp and the Indian government c...
Wipro inks 10-year deal with Phoenix Group's ReAssure UK worth
The agreement, executed through Wipro and its 100% subsidiary,...
Centre announces that DPDP Rules nearing Finalisation by April
The government seeks to refine the rules for robust data protection, ensuri...
Home Ministry cracks down on PoS agents in digital arrest scam
Digital arrest scams are a growing cybercrime where victims are coerced or ...
E-Magazine
TECHNOTAINMENT
Hrithik Roshan to endorse RuPay as Brand Ambassador
RuPay is reportedly planning to feature Bollywood superstar Hrithik Rosha
India Today Group launches – AI Pop Stars
Staying true to our industry leadership position in using cutting-edge tech
MOVERS & SHAKERS
TelioLabs ropes in Phaniraj V A as the Group CEO
TelioLabs has announced the onboarding of Phaniraj V A as its new Group CE
Wipro Appoints Amit Kumar as Managing Partner and Global Head
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology s
OPEN YOUR EYES
INTERVIEWS
AMD Pensando driving innovation in the DPU architecture space
AMD Pensando stands out in the DPU (Data Processing Unit) market with its u
Alpha Max offers high end solutions in the network space to en
The vision at Alpha Max is to attain quality as the trademark and create a
HOT PICK
MSI Announces the availability of RTX 50 series of laptops in
MSI, the innovative computing manufacturer in gaming, creator
Nothing Phone (3a) goes on sale today, starting at Rs 19,999
The phone was launched on March 4, featuring a 50MP main, ultra-wide, and t
MAKE IN INDIA BRANDS
VEHERE INTERACTIVE PVT. LTD.
LAVA INTERNATIONAL LTD.
PDRL - Passenger Drone Research Pvt. Ltd.
FIRE BOLTT
EMINENT CIO'S OF INDIA
ICONS OF INDIA
ICONS OF INDIA : SUNIL VACHANI
Sunil Vachani is the Chairman of Dixon Technologies (India) Ltd. Under...
Icons Of India : CP Gurnani
Former Managing Director and CEO of the well-known IT service company ...
ICONS OF INDIA : SHAILENDER KUMAR
Shailender Kumar is senior vice president and regional managing direct...
PARTNER SPEAKERS
PSU
STPI - Software Technology Parks of India
STPI promotes and facilitates the growth of the IT and ITES industry i...
TCIL - Telecommunications Consultants India Limited
TCIL is a government-owned engineering and consultancy company...
DRDO - Defence Research and Development Organisation
DRDO responsible for the development of technology for use by the mili...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - REVATHI ADVAITHI, CEO- Flex
Revathi Advaithi, the CEO of Flex, is a dynamic leader driving growth ...
Indian Tech Talent Excelling The Tech World - Aneel Bhusri, CEO, Workday
Aneel Bhusri, Co-Founder and Executive Chair at Workday, has been a le...
Indian Tech Talent Excelling The Tech World - Shantanu Narayen, CEO- Adobe Systems Incorporated
Shantanu Narayen, CEO of Adobe Systems Incorporated, is renowned for h...
ITFORUM 2025
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
of images belongs to the respective copyright holders
