Mukesh Ambani-backed Reliance Retail Ventures eyes $2.5 billion fundraiser
Reliance Retail Ventures, owned by Mukesh Ambani, is reportedly in advanced talks to raise $2.5 billion by September end, for a possible stock market listing. This fundraising effort is part of a larger $3.5 billion goal, with $1 billion already secured from the Qatar Investment Authority last month. The company is said to be in discussions with global investors, including at least two US-based investors and existing overseas investors of Reliance, such as sovereign wealth funds.
Boosting India's appeal for Western investors
India's largest retailer operates in various sectors and has partnerships with international brands such as Burberry and Pret A Manger. This investment would further solidify India's status as an attractive destination for private Western investors, who are increasingly cautious about investing in China due to its economic outlook and geopolitical tensions. India presents a bright spot for these investors seeking new opportunities.
Reliance Retail raised $5.71 billion three years ago
Back in 2020, Reliance Retail raised $5.71 billion by offloading a 10.09% stake to investors such as KKR, General Atlantic, the Saudi Public Investment Fund, and Mubadala Investment Company PJSC. These investments and partnerships have contributed to the company's growth and expansion in various sectors. Morgan Stanley is advising Reliance on the $2.5 billion fundraiser, according to Reuters. However, both parties have yet to make a comment on it.
