‘Global investors shown interest in Reliance Retail’
In less than three years, valuation of Reliance Retail has been doubled, says Mukesh Ambani, RIL Chairman
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New Delhi Several marquee global strategic and financial investors have shown strong interest in Reliance Retail, which has raised $1 billion from Qatar’s sovereign agency recently, RIL Chairman Mukesh Ambani said on Monday adding that if it were listed on stock exchanges based on current valuation, the retail venture would be among the top four listed entities.
In less than three years, valuation of Reliance Retail has been doubled and the pace of this value creation is “unmatched globally”, said Ambani addressing RIL shareholders. “Several marquee global strategic and financial investors have shown strong interest in Reliance Retail. I will update you about our progress with them in due course. I now invite Isha to report on the progress of our Retail business,” he said. Referring to the recent acquisition of around 1 per cent stake by Qatar Investment Authority (QIA) in Reliace Retail Venture Ltd (RRVL), by investing Rs 8,278 crore ($1 billion) at a valuation of $100 billion, Mukesh Ambani said its valuation has doubled in less than three years. “Just for context, during our fund-raise in September 2020, the valuation of our Retail business stood at Rs 4.28 lakh crore. In less than three years, the valuation of Retail has almost doubled, notwithstanding the intervening Covid-19 pandemic.
