Morgan Stanley pegged the value of RIL retail business at $29 billion

The development comes as Reliance Retail looks to bring in strategic and financial investors after the record $20-billion fund-raise byMukesh Ambanifor his telecom business.
Morgan Stanley pegged the value of RIL retail business at $29 billion

Wall Street powerhouse Morgan Stanley has estimated the net asset value of Reliance Retail at about $29 billion with increasing revenue contribution from the e-commerce venture JioMart over the next three years.The valuation is based on estimated core retail sales by 2023. The core retail sales here exclude connecting revenues (mobile recharges) and petro-retail, where it has sold a stake to British Petroleum.

The development comes as Reliance Retail looks to bring in strategic and financial investors after the record $20-billion fund-raise by Mukesh Ambani for his telecom business.

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