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Opener Tripathi guides KKR to close win over CSK

Abu Dhabi: On their way to a narrow 10-run win over three-time champions Chennai Super Kings (CSK) — thanks to Rahul Tripathi’s 51-ball 81 — Kolkata Knight Riders (KKR) did something unusual on Wednesday. They won the toss and elected to bat for the first time since 2015 IPL, after 69 matches.

The momentum gained with the decision at the toss ultimately took them to a win, and the third place on the points table (6 points from 5 matches).

Tripathi slammed eight fours and three maximums at Sheikh Zayed Cricket Stadium, until Bravo came in and finally dismissed Tripathi in the 17th over with the help of Shane Watson.

In-form Shubman Gill (11 off 12) was the first one to depart at 37/1 followed by Nitish Rana (9) at 87/2. By the 14th over, CSK checked KKR with regular wickets as Morgan fell cheaply for seven off 10 followed by Russell who could only make two.

Dinesh Karthik 12 off 11, Pat Cummins 17 off nine as both collected 14 till the 18th over. MS Dhoni once again made a flying move to dismiss Shivam Mavi (0). Dwayne Bravo’s 3/37 made it even memorable on his birthday.

However, Kolkata was successful in restricting CSK to 157 for loss of five wickets. Faf du Plessis could only make 17 off 10 while Watson made 50 in 40 balls. Chennai were then in desperate need of 67 runs and the pressure ultimately told on skipper Dhoni, and he departed after making 11 off 12 balls, bowled by Varun Chakravarthy. His dismissal shut all hopes for his team.

Kedar Jadhav (7 not out) and Ravindra Jadeja (21 not out) couldn’t be of much help, and that resulted in CSK’s fourth loss in six matches.

Kolkata effected some changes, with Shubman Gill and Tripathi opening the batting. While Eoin Morgan and Andre Russell failed to impress, Pat Cummins helped the team to reach a respectable score of 167.

POINTS TABLE

TEAMS MATCH PLAYED WON LOST POINTS
 Mumbai Indians 6 4 2 8
 Delhi Capitals 5 4 1 8
 Kolkata Knight Riders 5 3 2 6
 Royal Challengers Bangalore 5 3 2 6
 Chennai Super Kings 6 2 4 4
 Sunrisers Hyderabad 5 2 3 4
 Rajasthan Royals 5 2 3 4
 Kings XI Punjab 5 1 4 2
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Business Latest News

ADIA to invest Rs 5,512 crore in Reliance Retail Ventures

New Delhi: Reliance Industries Limited and Reliance Retail Ventures Limited (RRVL) announced that a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA) will invest Rs 5,512.50 crore into RRVL, a subsidiary of Reliance Industries.

 

This investment values RRVL at a pre-money equity value of Rs 4.285 lakh crore. ADIA’s investment will translate into a 1.20 percent equity stake in RRVL on a fully diluted basis.

 

With this investment, RRVL has raised Rs 37,710 crore from leading global investors including Silver Lake, KKR, General Atlantic, Mubadala, GIC, TPG and ADIA in less than four weeks.

 

Mukesh Ambani, Chairman and Managing Director of Reliance Industries, said: “The investment by ADIA is a further endorsement of Reliance Retail’s performance and potential and the inclusive and transformational New Commerce business model that it is rolling out.”

 

Hamad Shahwan Aldhaheri, Executive Director of the Private Equities Department at ADIA, said, “Reliance Retail has rapidly established itself as one of the leading retail businesses in India and, by leveraging both its physical and digital supply chains, is strongly positioned for further growth”.

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Mumbai hammer Kolkata by 49 runs in one-sided affair

Abu Dhabi: Four-time champions Mumbai Indians rode on a quality knock from captain Rohit Sharma (80) and some decent show by their bowlers to hammer Kolkata Knight Riders (KKR) by 49 runs in the fifth match of the Indian Premier League (IPL) at the Sheikh Zayed Stadium here on Wednesday.

After Mumbai, who were put to bat, amassed a huge 195 for five wickets in 20 overs, their bowlers too stepped up and came all guns blazing to restrict their opponents to 146/9 in the allotted 20 overs.

Chasing the massive 196-run target, Kolkata lost both their openers — Shubhman Gill (7) and Sunil Narine (9) — within the first five overs with their scorecard reading 25/2. While Trent Boult dismissed Gill, James Pattinson accounted for Narine.

KKR skipper Dinesh Karthik (30) and NitishRana (24), however, scored at a brisk pace, taking their side past the 50-run mark in the next 2.4 overs.

The partnership didn’t last too long as Rahul Chahar trapped Karthik before the wicket in the 11th over. Just when KKR managed to add another six runs, Keiron Pollard sent Rana back to reduce the opponents to 77/4 in 11.4 overs.

Jasprit Bumrah, who conceded 43 runs in four overs against Chennai Super Kings, made a magnificent comeback and jolted KKR twice in an over. Both Eoin Morgan (16) Andre Russell (11) became the victim of Bumrah in the 16th over.

Boult struck again in the 17th over, this time to send back Nikhil Naik (1) as KKR reeled at 103/7. Pat Cummins, who had a horrible time with the ball earlier in the innings, showed his potential with the bat as he played a cameo of 12-ball 33 before being consumed by James Pattinson in the 19th over. Cummins innings somehow reduced the deficit but wasn’t enough to help KKR cross the line as the two-time IPL champions fell 49 short of the target.

For Mumbai, Bumrah, Pattinson, Rahul Chahar and Boult picked couple of wickets each.

Earlier, Mumbai Indians’ skipper Rohit led from the front with his explosive 54-ball 80 as his side posted a challenging 195/5 in the allotted overs. Rohit’s blitzkrieg was decorated with three boundaries and six hits into the stands.

Apart from Rohit’s innings, it was some lacklustre bowling and fielding from Kolkata Knight Riders that helped Mumbai reach a good total.

After putting MI into bat, KKR managed to contain MI opener Quinton de Kock (1) early. However, their joy didn’t last long as the next batsman Suryakumar Yadav, along with Rohit, repaired the early damage quite comfortably.

The duo forged a 90-run partnership for the second wicket, before Yadav while trying to steal a single fell short of the crease.

Hardik gets out via rare hit-wicket mode, takes 3 catches

New Delhi: It is rare to watch a batsman get out hit wicket in the Indian Premier League (IPL) – a tournament that is all about hitting sixes and boundaries, often off the front foot. But Mumbai Indians’ Hardik Pandya did get out in that manner – his first such dismissal in 68 IPL matches – against Kolkata Knight Riders in Sheikh Zayed Stadium, Abu Dhabi.

The Baroda player later in the match atoned for his mistake by taking three catches, with the one coming off Nitish Rana’s lofted cover drive being simply breathtaking.

Pandya scored 13 off 18 balls before he went too far back into the crease to play a shot against pacer Andre Russell. As his aimed to play the ball on the off side, the toe of his bat clipped the bails. Curiously, Pandya found something funny in his dismissal as he smiled while walking back into the hut.

Later, Pandya seemed to make amends for that rare dismissal. Although Pandya also took the catches of Nikhil Naik and Pat Cummins, the running grab of Rana was brilliant as he maintained is balance even as he kept his eye on the ball while running along the boundary.

Rana’s catch by Pandya provided much happiness to the bowler, Kieron Adrian Pollard, for whom it was his first IPL wicket since 2015.

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Business Latest News

KKR to invest Rs 5,500 crore in Reliance Retail ventures

By The SATimes News Service

Mumbai: Reliance Industries Limited on Wednesday announced that global investment firm KKR will invest Rs 5,550 crore into its subsidiary Reliance Retail Ventures Limited to pick up 1.28 per cent equity in the company.

This investment values Reliance Retail at a pre-money equity value of Rs 4.21 lakh crore, a company statement said.

The deal marks the second investment by KKR in a subsidiary of Reliance Industries, following a Rs 11,367 crore investment in Jio Platforms announced earlier this year.

KKR is making its investment from its Asia private equity funds. The transaction is subject to regulatory and other customary approvals.

Mukesh Ambani, Chairman and Managing Director of Reliance Industries, said, “I am pleased to welcome KKR as an investor in Reliance Retail Ventures as we continue our onward march to growing and transforming the Indian Retail ecosystem for the benefit of all Indians. KKR has a proven track record of being a valuable partner to industry-leading franchises and has been committed to India for many years. We look forward to working with KKR’s global platform, industry knowledge and operational expertise across our digital services and retail businesses.”

Reliance Retail Limited, a subsidiary of RRVL, operates the retail business of the company serving close to 640 million footfalls across its 12,000 stores nationwide.

Founded in 1976, KKR has $222 billion in assets under management as of June 30, 2020. It established its first of eight Asia offices in 2005 and the firm currently has approximately $5.1 billion in private equity investments across more than 15 Indian companies, including Jio Platforms, JB Chemicals, Max Healthcare, Eurokids International and Ramky Enviro Engineers.

Henry Kravis, Co-Founder and Co-CEO of KKR, said, “We are pleased to deepen our relationship with Reliance Industries through this investment in Reliance Retail Ventures, which is empowering merchants of all sizes and fundamentally changing the retail experience for Indian consumers. Reliance Retail’s new commerce platform is filling an important need for both consumers and small businesses as more Indian consumers move to shopping online and the company offers tools for Kiranas to be a critical part of the value chain. We are thrilled to support Reliance Retail in its mission to become India’s leading omnichannel retailer and ultimately to build a more inclusive Indian retail economy.”

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Latest News New York Sports

Ali Khan will be IPL’s first American cricketer

By The SATimes News Service

New YorkThe Indian Premier League (IPL) is set to see the participation of a player from the USA for the first time with Kolkata Knight Riders (KKR) roping in fast bowler Ali Khan for the upcoming 13th edition of the league.

The two-time winners will pick the 29-year-old fast bowler — pending IPL approval — as a replacement for the English seamer Harry Gurney, according to an ESPNcricinfo.com report.

Gurney is scheduled to have surgery related to a shoulder injury, and has pulled out of both the IPL and England’s Vitality Blast last month.

Khan’s signing will make him the first USA player to feature in the IPL.

Khan was part of the Trinbago Knight Riders’ squad which remained unbeaten on the way to their CPL title win on Thursday. He picked up eight wickets from as many matches with an economy rate of 7.43.

He was on KKR’s radar last season as well but no deal could be worked out. 

The pacer burst on to the limelight during the 2018 Global T20 Canada, where he was spotted by star West Indies all-rounder Dwayne Bravo, who brought him to the CPL. He had featured in the CPL All-Star team that season.

Khan returned a haul of 16 wickets from 12 matches for Guyana Amazon Warriors that year, the second-most by a fast bowler in the season.

Khan can hit speeds in excess of 140kph and is known to have a good yorker.

The Dinesh Karthik-led KKR Riders will start their campaign against Mumbai Indians on September 23.

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Business India

Another investment in Jio, now ADIA to put in Rs 5,683 crore

Mumbai: In yet another major investment into Jio Platforms, Reliance Industries Ltd (RIL) has announced an investment of Rs 5,683.50 crore by a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA).

This investment values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. ADIA’s investment will translate into a 1.16 per cent equity stake in Jio Platforams on a fully diluted basis.

With this investment, Jio Platforms has raised Rs 97,885.65 crore from leading global investors, including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala and ADIA in less than seven weeks.

Jio Platforms, a wholly-owned subsidiary of Reliance Industries, is a next-generation technology platform focused on providing high-quality and affordable digital services across India, with more than 388 million subscribers.

The RIL statement said that Jio’s vision is to enable a Digital India for 1.3 billion people and businesses across the country, including small merchants, micro-businesses and farmers so that all of them can enjoy the fruits of inclusive growth.

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