Reliance Retail Unlisted Shares
Reliance Retail Ventures plans another stake sale of $250-300 million
Business Standard
2 min read
Reliance Retail Ventures Ltd (RRVL) plans another stake sale of $250-300 million.
Justification
RRVL is considering additional divestment: $250-300 million in 2023; Prior divestments: Qatar Investment Authority (QIA) and KKR, for 0.99% & 1.42%, respectively.
RRVL plans on a third sale offer in the year, at a higher valuation, before going for an IPO in 2025.
RRVL has global investors, including sovereign funds like Saudi Arabia’s Public Investment Fund, the Abu Dhabi Investment Authority, Mubadala, and GIC Singapore, apart from TPG, Silverlake, and General Atlantic. These investors put in money in 2020 and have had their valuations nearly double in 2023.
Reliance Retail posted annual revenues of more than Rs 2.6 trillion in FY23, a jump of 30%, and profits of Rs 9,181 crore.
The company is among the top 10 retailers in the world & is amongst the four most prominent players in India based on valuation.
Its customer base grew to approx 250 million, with 30% population coverage.
It has invested $10 billion in the last two years in expanding business, hitting 18,446 stores currently.
With massive expansion & doubled valuation of the company in recent years, it highlights strong growth potential & increased operations for the company.
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