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.
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.
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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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