Mukesh Ambani’s Reliance Retail in talks to raise $2.5 bn by end Sept

Indian billionaire Mukesh Ambani’s Reliance Retail Ventures is in advanced talks with global investors to raise around $2.5 billion by the end of September, ahead of a potential stock market listing, people familiar with the matter told Reuters.

Three sources said the target fund raise of $2.5 billion is part of a combined $3.5 billion target the firm has set for itself, a part of which – $1 billion – came from Qatar Investment Authority (QIA) and was announced last month.