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

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