Reliance Retail could launch IPO this summer

By

Isabelle Crossley

Published
Mar 1, 2019

The head of Reliance Retail and India’s richest man, Mukesh Ambani, is at the centre of media speculation that his business will launch an initial public offering (IPO) this summer.

Recently, news reports have been circulating that Ambani will launch an IPO for his business Reliance Retail in the coming months. Although the business itself has declined to confirm or deny the reports, the success of the business’ subsidiary Reliance Jio’s IPO has caused speculation amongst competitors, as reported by Forbes.

Reliance Retail has become India’s largest retail business over the past ten years and spans multiple industries including fashion. However, although there are reasons why Ambani may wish to launch an IPO, it could be much later than this summer.

"I see no reason for Reliance to list the company by June or July or anytime this year because its e-commerce play is not yet fully visible," the retail consultancy firm Technopak’s chairman and managing director Arvind Singhal told Forbes.

"That’ll take another year or more, and the valuation they will get by listing then will be far more in excess than now."