Mukesh Ambani, the richest person in India with a net worth of more than Rs 946087 crore, is the chairperson of Reliance Industries. For those who are unaware, Reliance Industries is the most valuable company in India with a market cap of Rs 1950000 crore. Mukesh Ambani is involved in a wide range of businesses and Reliance Retail is one of his best performing subsidiaries. Led by Mukesh Ambani’s daughter Isha Ambani, Reliance Retail raised Rs 15000 crore at a valuation of little over Rs 830000 crore last year. Now as per a report by The Hindu Business Line, Reliance Retail is now gearing up for another round of funding at valuation north of 1333830 crore.
The report suggests that Reliance Retail will be raising a lower amount this time in the region of Rs 8336 - Rs 16671 crore. To recall, The company raised over Rs 47000 crore in 2020. The report suggests that the preparations for fundraising are still at the preliminary stage. Isha Ambani’s firm will likely raise funds in the second half of the year. The company may also tap some of the existing investors.
With 78 crore store footfall and over 100 crore transactions, Reliance Retail is among the top 10 most visited retailers in the world and the only Indian retailer in the global top 100 list. To reach this milestone, the company invested Rs 82,646 crore in the last 2 years. Reliance Retail currently has 2.5 lakh on-roll employees. Over the past few years, Reliance Retail has attracted investments from large and reputable global investment firms and sovereign wealth funds.
