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Reliance Retail has been valued between $92-96 billion by two global consultancies.
EY valued the company at $96.14 billion while BDO valued the company at around $92 billion.
This valuation by the company signals the upcoming Reliance Retail IPO.
Mukesh Ambani, the richest man in Asia, owns the Reliance Retail venture.
Reliance Retail includes Ambani’s core retail businesses including Reliance Jio, Digital business, and Bricks-and-mortar stores.
Reliance Retail operates a chain of convenience stores, supermarkets, specialty, and online stores providing choice, convenience, and superior value
Reliance Retail's fashion and lifestyle business grew 13% in the fourth quarter of fiscal year 2023 (Q4 FY23).
Reliance Retail's grocery business grew 23% in Q4 FY23
The Connectivity segment is the largest segment followed by retail segment
Reliance retail venture raised $5.72 billion by selling a 10.1% stake to fund for its Growth
KKR, the Saudi Public Investment Fund, General Atlantic, and the UAE’s Mubadala are owning this
Reliance Retail IPO is coming soon
Mukesh Ambani has indicated his plans to list his retail business at some point.
IPO details has not been announced yet
On 7th July 2023, the retail arm of Reliance Industries (RIL) announced to reduce its share capital by 9.5%.
This indicated the IPO price may be around Rs 1360.
The company will be issuing a total of 136.2 crore shares to its shareholders at Rs 1,362 per share
In February 2023: Reliance Retail partners with Google to launch JioMart Smart Retail Hubs.
In June 2023: Reliance Retail announces plans to invest Rs 50,000 crore in its retail business over the next three years.
The company plans to use the investment to expand its store network, upgrade its technology infrastructure, and launch new initiatives.
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