+
RIL transfers Rs 51.50 bn to warehouse InvIT fund
WAREHOUSING & LOGISTICS

RIL transfers Rs 51.50 bn to warehouse InvIT fund

Reliance Industries (RIL) announced earlier this week that it had transferred Rs 51.50 billion to its warehouse InvIT infrastructure investment trust (InvIT) entity. The assets were transferred on October 25, 2023, for a total consideration of Rs 51.50 billion. The earning statement also mentioned that the asset value had been included in the 'Other Financial Assets' segment as of September 30, 2023.

RIL had established an InvIT, enabling the group to monetise the backend warehousing and logistics assets of its retail business. The trust was registered with the market regulator Securities and Exchange Board of India (Sebi) in February of the same year. The funds generated through the InvIT would be utilised for acquiring warehousing and logistics-related assets through a special-purpose vehicle.

Reliance Retail, the retail business arm of Reliance Industries led by billionaire Mukesh Ambani, has been actively expanding its presence across various channels. The company has been investing in backend infrastructure, including warehousing, supply chain, and logistics facilities. As of September 30, Reliance Retail was operating 18,650 stores covering an area of 71.5 million square feet.

In the statement, it was revealed that Reliance Retail's focus is on strengthening its backend infrastructure to support its aggressive expansion strategies.

Reliance Industries (RIL) announced earlier this week that it had transferred Rs 51.50 billion to its warehouse InvIT infrastructure investment trust (InvIT) entity. The assets were transferred on October 25, 2023, for a total consideration of Rs 51.50 billion. The earning statement also mentioned that the asset value had been included in the 'Other Financial Assets' segment as of September 30, 2023. RIL had established an InvIT, enabling the group to monetise the backend warehousing and logistics assets of its retail business. The trust was registered with the market regulator Securities and Exchange Board of India (Sebi) in February of the same year. The funds generated through the InvIT would be utilised for acquiring warehousing and logistics-related assets through a special-purpose vehicle. Reliance Retail, the retail business arm of Reliance Industries led by billionaire Mukesh Ambani, has been actively expanding its presence across various channels. The company has been investing in backend infrastructure, including warehousing, supply chain, and logistics facilities. As of September 30, Reliance Retail was operating 18,650 stores covering an area of 71.5 million square feet. In the statement, it was revealed that Reliance Retail's focus is on strengthening its backend infrastructure to support its aggressive expansion strategies.

Related Stories

Gold Stories

Next Story
Real Estate

Adani begins construction of Dharavi rehabilitation homes

Construction of rehabilitation homes for eligible Dharavi residents has commenced at the 22-acre Matunga railway site, following a Bhoomi Poojan ceremony performed by Pranav Adani, Director, Adani Enterprises (AEL). The project, being implemented by Adani Navbharat Developers (ANDPL), envisages 10 towers comprising 10,432 rehabilitation apartments and 1,379 commercial and industrial units.Under the in-situ rehabilitation scheme, eligible residents will receive homes measuring 350 sq ft. Residents from Sectors 6 and 1 will be accommodated at Matunga first, followed by nearly 4,500 apartments fo..

Next Story
Real Estate

Adani begins construction of Dharavi rehabilitation homes

Construction of rehabilitation homes for eligible Dharavi residents has commenced at the 22-acre Matunga railway site, following a Bhoomi Poojan ceremony performed by Pranav Adani, Director, Adani Enterprises (AEL). The project, being implemented by Adani Navbharat Developers (ANDPL), envisages 10 towers comprising 10,432 rehabilitation apartments and 1,379 commercial and industrial units.Under the in-situ rehabilitation scheme, eligible residents will receive homes measuring 350 sq ft. Residents from Sectors 6 and 1 will be accommodated at Matunga first, followed by nearly 4,500 apartments fo..

Next Story
Equipment

Seven Propel 470 HEV electric tippers go to work on coal haulage in Chhattisgarh

Propel EV, the electric mobility division of Propel Industries and India's No. 1 electric tipper brand, has deployed seven 470 HEV electric trucks with a leading coal-haulage contractor at one of India's largest opencast coal mines in Chhattisgarh. The trucks are in daily operation, moving coal on continuous haul cycles in one of the most demanding applications in Indian mining.Why Electric - and Why CoalCoal haulage runs round the clock: heavy loads, long haul cycles, steep ramps and abrasive dust. It is also where diesel hurts most. Engines run continuously, fuel is the largest single operat..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code