RIL clocks fresh high as a new buzz emerges; Carlyle, SoftBank shows interest in Reliance Ventures

According to the media report, demand for RIL's retail business is so strong that even Carlyle Group and Softbank Group Corp. has shown interest.

Sep 16, 2020 12:09 IST India Infoline News Service

RIL, Reliance Industries
Mukesh Ambani-backed Reliance Industries (RIL) saw huge buying sentiment that it clocked a fresh high on Wednesday. Investors faith was lifted by a new buzz in the business town. This time it is being known that demand for RIL's retail business is so strong that even Carlyle Group and Softbank Group Corp. has shown interest.

On Sensex, heavyweight RIL's stock advanced by over 2% in early deals. The stock has touched a new 52-week high of Rs2,368.80 per piece.

At around 11.55 AM, RIL stock is trading at Rs2336.50 per piece surging by 0.80% on Sensex. At the current market price, the company's valuation on Sensex stands over Rs15.79 lakh cr. RIL continues to remain the only company in India to reach such a breathtaking market capitalisation followed by TCS and HDFC Bank on BSE.

According to an NDTV report, investor demand for Reliance Industries Ltd.'s retail business is so strong that Carlyle Group Inc. and SoftBank Group Corp. are among those that have been put onto a waiting list, according to people familiar with the matter.

Reportedly, Carlyle and SoftBank have recently expressed interest in investing in Mukesh Ambani's Reliance Retail Ventures Ltd., said the people, who asked not to be identified as the information is private. Reliance Industries has asked the two companies to wait on the sideline since the conglomerate is already in advanced talks with other financial investors, the people said.

Recently, RIL has secured a whopping $20B in its digital services business with major stake sale in Jio Platforms to investors like Facebook, Silver Lake, KKR & Co., Google and L Catterton among others.

In the latest news, Jeff Bezos Amazon is also said to become a new investor in RIL's retail arm. However, RIL has said they do not comment on media speculation or rumours. 

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