Mukesh Ambani firm led by daughter Isha Ambani growing fast, value crosses Rs 7,00,000 crore; details inside

Asia’s richest man Mukesh Ambani has been gradually handing over the reins of the various businesses in his Reliance empire to the next generation. His daughter Isha Ambani is the Managing Director of Reliance Retail, which has shown fast growth in recent times despite the Covid-19 pandemic slowdown.

Reliance Retail, which was valued at around $57 billion back in 2020, has now been valued at between $92-96 billion by two global consultants, Reuters reported citing a source with direct knowledge of the development. The valuation survey could indicate plans to take the company public eventually. 

The Mukesh Ambani firm was valued at around $92 billion (Rs 7,60,062 crore) by BDO. The other valuer EY valued Reliance Retail at $96.14 billion (Rs 7,94,265 crore), the source said. 

The company includes the core retail businesses of the Mukesh Ambani family, both offline and digital. In 2020, It was valued at $57 billion when it raised $5.72 billion for 10.09% stake to investors including KKR, Saudi Public Investment Fund, General Atlantic and UAE's Mubadala.

The company has been expanding footprint with international partnerships roping in brands like Burberry, Pret A Manger and Tiffany.Reliance Retail's equity shares, currently not listed, were valued at Rs 884.03 per share by EY and Rs 849.08 per share by BDO.

(Inputs from Reuters, PTI)