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Reliance Retail, India's largest retailer, has strategically partnered with several global brands to bolster their presence in the Indian market. This move aligns with Reliance's aim to secure funding for future capital expenditures while managing its retail debt effectively.
One significant investment comes from the Qatar Investment Authority, amounting to $0.99 billion, or Rs. 8,277.8 crore. This deal has more than doubled Reliance Retail's valuation, soaring from Rs. 4.21 trillion to Rs. 8.27 trillion after its completion. Additionally, the partnership with KKR has injected Rs. 2,069.50 crore, increasing KKR's stake from 1.17 percent to 1.42 percent.
Global investors, including Saudi Arabia's Public Investment Fund, the Abu Dhabi Investment Authority, Mubadala, GIC Singapore, TPG, Silverlake, and General Atlantic, have also played a pivotal role. They initially invested in 2020 and have since doubled their investments in 2023, contributing a total of Rs. 57,562 crore. A notable portion of this investment, 11.31 percent, is held in Reliance Retail Ventures Ltd.
This surge in investments has translated into a remarkable 30 percent jump in Reliance Retail Ventures' profits. Currently, Reliance stands as one of the top 10 retailers globally and is among the four largest in India. Their retail stores have witnessed an impressive footfall of approximately 780 million visitors in 2023, with 250 million registered customers, making them one of the most frequented retailers worldwide.
Over the last two years, Reliance has aggressively expanded its business by investing over $10 billion. Their ambitious plans include opening 55 new stores by 2024, bringing the total count to 18,446 stores sprawled across 70.6 million square feet. Reliance Retail offers a wide array of products, including consumer electronics, fashion and lifestyle items, groceries, and consumer brands. Additionally, they operate the Jio Mart and Milkbasket e-commerce platforms.
This extensive expansion plan across the country is slated to take more than a year to materialize. The stake sales from these investments will serve as a crucial fundraising mechanism, enabling Reliance to further expand its outlets and customer base, ultimately enhancing its service footprint across India.
Reliance has also forged partnerships with renowned global brands like Burberry, Pret a Manger, and Tiffany to strengthen its presence in India. With substantial investments amounting to Rs. 47,265 crores from various investors, the company is under the visionary leadership of billionaire Mukesh Ambani's daughter, Isha Ambani, who is committed to fostering India's growth and prosperity.
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