MUMBAI: Reliance Industry has now joined the $ 200 billion group. The market price of the company has shown a strong increase due to the rise in Reliance Industry's share in the stock market. The company's stock touched a record high of Rs 2343.90 per share on Thursday on the Bombay Stock Exchange (BSE), causing the company's total market capitalization to exceed Rs 14.65 lakh crore.
The price of one dollar is around Rs 73.25 and according to this, 14.65 lakh rupees are 200 billion dollars. Reliance Industries, the richest company in the country, is now fully focused on advancing the retail business. The company intends to sell 15% stake in Reliance Retail Ventures, the holding company of its retail business, to private equity investors and sovereign wealth funds. According to media reports, the company's target is to raise from Rs 60,000 to 63,000 crore through it.
A source related to the case said that fresh shares will be issued to investors and the fundraising process is likely to be completed by October. According to the source, "The company also wants to bring a strategic investor, but there is no active negotiation on this front right now. There is a discussion on the name of Amazon and Walmart, but nothing has been made official yet".
Stock market starts big, these stocks got a huge jump
Reliance will sell 15% stake in retail business in fight to raise Rs 63,000 crore
80 new trains starting from September 12, tickets to be booked from today