Moulishree Srivastava

Last week, Reliance Retail landed a USD 1 billion check from Silicon Valley-based venture capital firm Silver Lake for a 1.75% stake.

In August, the Silicon Valley-based early-stage VC firm raised USD 100 million for global investments, specifically in emerging markets like India and Southeast Asia.

In the past tech companies such as Oyo, Policybazaar, Ola, Paytm, Quikr, and others have also said they would soon launch their IPO.

While Ant Group holds the majority stake with a 29.7% share, Japanese conglomerate SoftBank has a 19.6% shareholding, followed by SAIF Partners with 18. 56% stake.

Samsung’s India market share rose by 10 percentage points to 26%, while Xiaomi slid 1 percentage point to 29% in Q2.

JioMart, Reliance’s ambitious e-commerce unit, is a joint venture between Reliance Retail and Jio Platforms.

Overall, Byju’s has raised more than USD 2.3 billion from global high-profile investors.

SoftBank has held discussions with India’s two largest telecom operators for buying out TikTok India in August.