Reliance Retail valued $92-96 billion by consultants appointed by the firm: Report
Mumbai: Reliance Retail, a part of Mukesh Ambani’s Reliance Industries Ltd, has been valued at $92-96 billion by two global consultants appointed by the company, Reuters reported citing a source with direct knowledge of the matter.
Reliance appointed independent valuers EY to assess the company's value, which estimated it to be around $96.14 billion. Another independent valuer, BDO, valued the company at approximately $92 billion.
Reliance Retail includes Ambani's primary retail operations, which comprise both digital and physical stores. It is a wholly-owned subsidiary of Reliance Retail Ventures and includes various retail operations such as international partnerships and the billionaire's consumer goods business.
The valuations provided by the consultants indicate that Ambani's businesses are experiencing significant growth.
In 2020, Reliance Retail Ventures raised a substantial amount of funds, approximately 472.65 billion Indian rupees ($5.72 billion), in exchange for a 10.09% stake in the company.
This transaction valued the company at approximately $57 billion.
The increased valuations suggested by the recent estimates highlight the significant growth and potential of Ambani's businesses.
Reliance did not immediately respond to Reuter’s request for comment.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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