Reliance Retail Aims for Rs 40,000 Crore via InvIT Fundraising

23 Aug 2023 , 12:50 PM

Reliance Retail, founded by Mukesh Ambani, plans to raise up to Rs 40,000 crore through an Infrastructure Investment Trust (InvIT). The company has submitted an InvIT proposal to SEBI, as reported by India Retailing.

The initial phase aims to secure about Rs 400 crore within the next two months, which will serve as the foundation for the InvIT. Earlier reports from April indicated Reliance Industries Limited’s intention to monetize retail warehousing assets through a $2.4-3 billion InvIT.

The InvIT’s ultimate goal is to raise funds ranging from Rs 25,000 crore to Rs 40,000 crore, with the target likely to be realized in Q4. The retail arm of Reliance has been making significant strides in offline expansion in recent months.

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