Walmart frontrunner to acquire Reliance Retail stake

Mukesh Ambani is scouting for investors in his retail business with a deadline of March 2021, even as he continues to grow.

Reliance Industries Ltd is in discussions to sell a minority stake in its retail business to Walmart Inc., with the world’s largest retailer emerging as an early candidate to pick up a stake in India’s largest retail company, according to an executive familiar with the development. The move is significant as both companies look to gird up to take on Amazon in the country’s organized retail space.

Walmart could pick up as much as 10% in Reliance Retail Ltd, according to the executive, who did not want to be named as the discussions are confidential. The executive said the deal …


Varun Sood

Varun is a Bengaluru-based journalist and former writer at The Morning Context. In his thirteen-year stint as a print journalist, he had worked with a number of publications, including Business Standard, the Financial Times, The Economic Times and Mint.