Mukesh Ambani's Reliance Industries is offering to sell a roughly $20 billion stake to

Arbaz Sayed Arbaz Sayed
Sep 10, 2020 2 min read
Mukesh Ambani's Reliance Industries is offering to sell a roughly $20 billion stake to

Indian billionaire Mukesh Ambani’s Reliance Industries Ltd. is offering to sell a roughly $20 billion stake in its retail business to Inc., according to a person with knowledge of the matter. Mukesh Ambani, which has already raised $20 billion in this year from investors including Facebook and Google, is willing to sell an up to 40 percent stake in the retail business to Amazon, the agency reported.

Mukesh Ambani who has already built India's top telecom network by customers in less than four years, is now is turning his focus toward retail market.

How Mukesh Ambani’s JioMart is set to revolutionize e-commerce sector with JioMart
When it comes to the Indian business environment, one simply can’t ignore Mr.Mukesh Ambani, the biggest player, the owner of Reliance Industries, and thewealthiest businessman of India. He has footprints in some of the most importantsectors of the Indian economy like refining, oil & gas, petroche…

Amazon has held talks about investing in Reliance Retail and expressed interest in negotiating potential deals but has made no decision, Bloomberg's report said.

If this deal would be successful it will not only create a retail behemoth in India but will also turn Jeff Bezos and Asia’s richest man from rivals into allies in one of the fastest-growing consumer markets in the world.

Billionaire Mukesh Ambani’s Reliance Retail has acquired Future group Retail Business for ₹24,713 crore
Kishore Biyani, once celebrated as a retail king has surrendered by selling hisretail business of the Future Group to billionaire Mukesh Ambani’s RelianceRetail. Mukesh Ambani’s Reliance Industries Ltd has acquired Kishore Biyani’sFuture Group for ₹24,713 crores / $3.38 billion. Reliance Retail w…

Reliance Industries Share Price

The stock of Reliance Industries surged 4.2% as of 12:08 p.m. in Mumbai. Reliance shares also Hit Record High, Market Value Tops ₹ 14 Lakh Crore For First Time. Currently, Reliance Industries is the only Indian company to hold a double-digit lakh crore market value in rupee terms.

reliance amazon
Reliance Industries Share price

Mukesh Ambani has already dominated the telecom sector with Jio in less than four years and now is pushing ahead to consumer-services.  At $20 billion, the deal would be the biggest ever in India as well as for Amazon, according to data compiled by Bloomberg. If Amazon decides to come in with a big stake in Reliance Retail, it is effectively buying into its biggest competitor.

Must have tools for startups - Recommended by StartupTalky

Subscribe to StartupTalky

Get the latest insights delivered to you right in your inbox

Great! Next, complete checkout for full access to StartupTalky.
Welcome back! You've successfully signed in.
You've successfully subscribed to StartupTalky.
Success! Your account is fully activated, you now have access to all content.
Success! Your billing info has been updated.
Your billing was not updated.
Grow your Skills and advance your career with LinkedIn Learning ->