Retail arm to attract next set of global investors, says Mukesh Ambani

The next investment trigger for Mukesh Ambani after Jio Platforms will be Reliance Retail. On Wednesday, the country’s richest person, chairman of Reliance Industries (RIL), said his retail unit had received “strong interest” from strategic and financial investors.

“We will induct global partners and investors into Reliance Retail in the next few quarters,” said Ambani, 63, pointing to the next phase of value unlocking at the firm.

Ranked among the world’s top 100 retailers, Reliance Retail, whose turnover in financial year 2019-20 (FY20) was Rs 1.62 trillion, is ahead of the country’s second-largest retailer Future Group by a wide margin. Currently, the retail unit of RIL operates nearly 12,000 stores in over 6,600 towns and cities, covering an area of 28.7 million sq. ft. In comparison, Future Group operates 2,000 outlets in over 400 cities, covering an area of 16 million sq. ft.