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Mukesh Ambani's Reliance Retail valued at $34 billion in share swap

Reliance Retail runs India's largest chain of neighborhood supermarket stores and consumer electronics stores

Mukesh Ambani

Mukesh Ambani

Bhuma Shrivastava | Bloomberg
A stock swap offer to help shareholders of billionaire Mukesh Ambani’s unlisted retail business monetize their investment has valued the unit at $34 billion.

Share owners in Reliance Retail Ltd. can exchange four shares for one of its listed parent Reliance Industries Ltd., according to a so-called scheme of arrangement posted on the group’s website. With the parent’s latest market capitalization at 9.8 trillion rupees ($137 billion), the share swap values the subsidiary at 2.4 trillion rupees, according to Bloomberg’s calculation.

Asia’s richest man is scouting for investors for the profitable retail unit. The share swap, which will help Reliance

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First Published: Dec 26 2019 | 2:03 PM IST

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