Reliance share price soars as Mukesh Ambani continues with his fundraising blitzkrieg for retail venture

BCCL
  • As of 11.30 am, Reliance Industries’ share price stood at ₹2,289.
  • The spike in Reliance shares comes after Abu Dhabi’s royal family’s fund – Abu Dhabi Investment Authority – said it was investing $750 million in Reliance Retail.
  • After raising over $20 billion for Jio Platforms, Mukesh Ambani is currently on an investment spree for his retail venture.
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Reliance is on a roll again as its share price rose by almost 4% on Wednesday morning. As of 11.30 am, Reliance Industries’ share price stood at ₹2,289.

After raising over $20 billion for Jio Platforms, Mukesh Ambani is currently on an investment spree for his retail venture.

Reliance’s share price has jumped by over 159% since March 23.

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BI India/Flourish

The spike in Reliance shares comes after Abu Dhabi’s royal family’s fund – Abu Dhabi Investment Authority – said it was investing $750 million in Reliance Retail. This is the eight investment that Reliance Retail has raised in the last four weeks.

Ambani has now raised a total of ₹37,710 crore or $5.1 billion for his retail venture from marquee investors Silver Lake, KKR, General Atlantic, Mubadala, GIC, TPG, and ADIA. So far, Mukesh Ambani has sold 8.47% stake in Reliance Retail – which is India’s largest retail chain with over 12,000 stores across 6,700 cities.

This market rally has also helped Ambani become the 6th richest person in the world, with a total wealth of $84.8 billion, according to the Bloomberg Billionaires Index.
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SEE ALSO:
Reliance Retail secures $750 million from ADIA – Mukesh Ambani has now raised over $5 billion for retail alone
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