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Reliance Retail Of India Is Independently Assessed At $92-96 Billion: Reports

Reliance Retail Of India Is Independently Assessed At $92-96 Billion: Reports
Mukesh Ambani's Indian company Reliance Retail, which is valued at $92-96 billion by two international consultants, may be preparing for an eventual IPO, said reports quoting information from sources with direct knowledge of the situation. 
According to the source, who declined to be identified since the information is private, Reliance had hired independent valuers EY and BDO. EY evaluated the company at $96.14 billion and $92 billion, respectively.
There were no comments from Reliance, EY and BDO.
Ambani's primary brick-and-mortar and online retail operations are all part of Reliance Retail. It is wholly owned by Reliance Retail Ventures, which also houses the billionaire's consumer goods company and other retail operations like overseas collaborations.
The valuations demonstrate that experts believe Ambani's enterprises are expanding quickly. Reliance Retail Ventures sold a 10.09% share in 2020 and raised 472.65 billion Indian rupees ($5.72 billion), valuing the company at about $57 billion at the time.
At the time, investors included KKR, the Saudi Public Investment Fund, General Atlantic, and Mubadala of the United Arab Emirates.
The valuation information was released in advance of a potential initial public offering (IPO) of Reliance's retail business.
Ambani has stated that he will eventually IPO his retail businesses, although he has not yet provided a date or more information.
Reliance Retail was assessed by EY at 884.03 rupees per share and by BDO at 849.08 rupees, according to the source.
In order to establish and grow their presence in India, Reliance Retail has teamed up with a variety of international businesses in recent years. Burberry, Pret A Manger, and Tiffany are some of its partner brands in the fashion and food industries.

Christopher J. Mitchell

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