Reliance Retail likely to acquire Kerala’s Bismi retail chain

Bismi has a pan state presence with over 30 stores dealing with electronics and groceries.
A Reliance retail showroom
A Reliance retail showroom
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Reliance Retail is in discussion to acquire Bismi, Kerala's leading electronics and grocery retail chain and the deal is likely to be concluded before Deepavali, Economic Times reported. Launched in 2003, Bismi is a chain of electronics and hypermarkets with numerous white goods and electronic retail stores. Spread across Kerala with over 30 stores, Bismi deals with both home appliances as well as groceries.

Bismi has gained a major foothold in the Kerala market in such a short span, having its presence in most of the towns. And now, It is learnt that the Kerala based retailer is on the road to being acquired by one of India’s largest corporate groups. However, a Reliance source told TNM that they won't either deny or confirm the news. "We won't make anything public until it is finalised," the source said, declining to comment on whether the talks of acquisition are true or not.

A family controlled venture, Bismi, with a revenue of around Rs 800 crore, is owned by VA Ajmal, who is the managing director. It had been reported in May 2022 that Reliance will acquire dozens of small grocery and non-food brands as the corporate giant targeted building its own $6.5billion consumer goods business to challenge foreign behemoths like Unilever. The report also said that Reliance plans to build a portfolio of 50 to 60 grocery, household and personal care brands within six months.

Mukesh Ambani, the billionaire who runs Reliance announced his succession plan in August this year. The retail giant has three broad businesses - retail and digital services including telecom, oil refining and petrochemicals. Of this, the retail business is run by the subsidiaries Reliance Retail Ventures Ltd. Mukesh Ambani introduced his daughter Isha Ambani as the new leader of the retail business. He said that the retail business had achieved a record of Rs lakh crore turnover and is among Asia's top ten retailers.    

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