Asia’s richest man is raising fresh funds to trim debt and expand the shopping unit of his flagship Reliance Industries (RELI.NS).
Ambit Capital, a broking firm, for example ascribes Reliance Retail a $57 billion valuation in a sum of the parts analysis, almost half Bernstein’s estimated $111 billion.
Any financial haze around Reliance Retail will naturally clear whenever it publishes a detailed listing prospectus.
U.S. private equity giant KKR will invest 20.7 billion rupees ($250 million) into Reliance Retail Ventures, the company’s parent Reliance Industries said on Sept. 11.
Reliance Retail is a subsidiary of Reliance Industries.
Persons:
Mukesh Ambani, Thakore, Singapore’s GIC, Bernstein, Una Galani, Thomas Shum
Organizations:
Reuters, Reliance Industries, KKR, Abraham, Qatar Investment, U.S, Reliance Retail, Abu Dhabi Investment Authority, Saudi Arabia’s Public Investment Fund, Reliance, HK, India’s Reliance Industries, Reliance Retail Ventures, Thomson
Locations:
MUMBAI, Qatar, Abu Dhabi, China, Singapore, Saudi Arabia