Mukesh Ambani and his daughter Isha take a massive business decision, announcing the strategic write-off of a whopping Rs 1,660 crore investment in…

Mukesh Ambani’s Reliance Retail has made a significant move by writing off its $200 million investment in hyperlocal startup Dunzo. The decision comes after the company’s cash crunch and retreat from quick commerce over the past two years. Reliance, which holds a 25.8% stake in Dunzo, is no longer involved in funding or sale discussions. Dunzo’s CEO, Kabeer Biswas, is in talks to sell the company to high-net-worth individuals or family offices, valuing it between Rs 300 crore ($25-30 million). Sources say the company’s departure from profitability, delays in salary payments, and difficulty clearing employee dues were among the challenges it faced. Prior to this, Dunzo had engaged in talks with Swiggy and BigBasket for a potential buyout, but these discussions failed. The company’s founders have also stepped down, and most of its investors, including Reliance, Google, and Lightbox, have departed from the board.