RIL AGM: Reliance Retail’s valuation jumps to Rs 8.28 lakh cr from Rs 4.28 lakh cr in 2020, Ambani says
Reliance Industries Chairman Mukesh Ambani on Monday informed investors that the valuation of Reliance Retail rose to Rs 8.28 lakh crore today, from Rs 4.28 lakh crore in 2020.
Reliance Industries Ltd (RIL) recently announced that Qatar Investment Authority (QIA) will invest Rs 8,278 crore in its subsidiary Reliance Retail Ventures for a 1 per cent stake. In 2020, Reliance Retail Ventures raised Rs 47,265 crore by selling a stake to various global investors.
Then, it was done at a pre-money equity value of Rs 4.21 lakh crore.
Isha Ambani, who heads Reliance Retail, informed shareholders that Reliance Retail crossed 100 crore transactions, up 42 per cent on an annual basis. «We are delivering value to over 30% of India’s addressable population.
All this has made Reliance Retail rank among the Top-10 most visited retailers in the world,» said Ambani.
The company has invested over $10 billion in the past two years, focusing on building integration, growing in-house brands, and improving supply chain networks, Ambani said. Reliance Retail opened over 3,300 new stores in FY23, taking the total count to 18,040 stores.
