Business News: The Stakes in this company will be sold by Ambani! | Reliance Retail | Mukesh Ambani
27 Jul, 2023
Reliance Industries, the most valuable firm in the nation, just released its Quarter 1 results, showing that its retail division was functioning well. However, new information suggests that Mukesh Ambani, the company's CEO, plans to sell a portion of his investment in Reliance Retail.
Valuation in the proposed deal
This information was provided by quoting case-related sources in the most recent ET report. The reported price range for this potential sale of Reliance Retail's interest is between $ 950 million and $ 1 billion. Reliance Retail has a $100 billion valuation in the proposed transaction. As part of the agreement, Qatar Investment Authority would invest in return for a 1% interest in Reliance Retail.
If this transaction goes through and the information from the sources is accurate, Reliance Retail's value will nearly quadruple in three years. Reliance Retail Ventures received investment from Saudi Arabia's Public Investment Fund before, in the year 2020. Following that, the Saudi PIF invested $1.3 billion in exchange for a 2.04% share in Reliance Retail, giving the company a deal value of almost $62.4 billion.
