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Reliance Industries Limited (RIL) chairman Mukesh Ambani on Thursday said that Reliance Retail is a part of the top five global retailers in terms of number of stores, adding that it is globally in top 30 as per revenue.
Speaking at the company’s 47th AGM, Ambani commended the omni-inventory channels which enable their growth with discipline to serve customers via 19,000 stores.
In terms of market capitalisation, the retail arm stands among the Top-10 retailers, Ambani said.
Reliance Industries had infused Rs 4,330 crore into its flagship retail company Reliance Retail in the last financial year, showed the company’s regulatory disclosure to the ministry of corporate affairs in July. The investment leveraged both equity and debt, marking a shift from FY23 when it was funded entirely via debt.
RIL made the funding through its wholly-owned subsidiary Reliance Retail Ventures (RRVL), which is also the holding company for all retail businesses of the oil-to-telecom conglomerate, ET bureau had reported.
Also Read: Reliance AGM: Mukesh Ambani sets a global goal for the oil-to-telco co
The disclosure showed Reliance Retail has transferred its supply chain assets to Reliance Logistics and Warehouse Holdings (RLWH) at a valuation of Rs 8,000 crore. The proposal was approved by Reliance Retail’s board in March.
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