Mukesh Ambani, Isha Ambani's Rs 8,60,000 crore firm to get Rs 8200 crore offer from this country in return of...

Qatar Investment Authority, the country’s sovereign wealth fund, wants to buy minority in stake in Mukesh Ambani-owned Reliance Retail Ventures, a report said on Wednesday.

The fund may buy 1 percent stake in the company, led by Mukesh Ambani’s daughter Isha Ambani.

The fund is willing to buy the stake for 1 billion dollars (Rs 8200 crore). This move will peg the company’s valuation at 100 billion dollars or Rs 8,20,000 crore.

Reliance Retail isn’t a listed company yet. Ambani, however, has said in the past he would list the firm at some point; he, however, gave no timeline for the same.

Mukesh Ambani had trifurcated his core businesses – Retail, telecom and new energies. Isha Ambani looks after Reliance Retail, Akash Ambani Reliance Jio and Anant Ambani the new energy business.

JP Morgan estimated the net worth of Reliance Retail to be 112 billion dollars. UBS has valued it at 110 billion dollars whereas Bernstein has valued it at 111 billion dollars.

JP Morgan pegged the net worth of the company’s Reliance shares at Rs 86,0000 crore.

In 2020, Reliance sold 10.52 percents shares of Reliance Retail to several investors at a valuation of Rs 4.3 lakh crore.

Isha Ambani-led company’s quarterly EBITDA was Rs 5139 crore. Its revenue was Rs 69,948 crore.