Reliance Retail IPO: Is Reliance Industries Limited Chairman Mukesh Ambani planning to launch an IPO of Reliance Retail Ventures Limited? are you? Can it be announced at Reliance Industries’ AGM meeting on Monday, August 28, 2023? This speculation has been in the market since Wednesday when it was reported that the Qatar Investment Authority has bought 0.99 percent in Reliance Retail at a value of $ 100 billion.
There is an AGM meeting of Reliance Industries on August 28, 2023. Just before that, Qatar Investment Authority has taken this stake in Reliance Retail for Rs 8278 crore. With this deal, the value of Reliance Retail Ventures Limited has been estimated at Rs 8.278 lakh crore. While in 2020, Reliance Retail raised Rs 47,260 crore by selling 10 per cent stake at a valuation of Rs 4.21 lakh crore. Reliance Retail’s valuation has almost doubled in three years.
After the deal with Qatar Investment Authority, investors are eyeing Reliance’s AGM to announce the timeline of Reliance Retail’s IPO. The possibility is being expressed. Earlier in July, Reliance had decided to buy 0.4 per cent equity non-promoter shares at a price of Rs 1362 per share.
Reliance Industries’ stake after Qatar Investment Authority bought stake in Reliance Retail It has come down from 89.9 percent to 88.9 percent. After this deal, foreign brokerage house CLSA has advised investors to buy Reliance shares with a target of Rs 3060.
Reliance Retail Ventures Limited is the holding company of Reliance’s retail business, whose director is Mukesh. Ambani’s daughter is Isha Ambani. By the way, selling has been seen in the stock of Reliance on Thursday. Reliance shares closed at Rs 2478, down 1.76 per cent.
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