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Reliance AGM: Key Developments to Monitor, from Reliance Retail’s IPO Date to Recent Launches and Acquisitions

The Annual General Meeting (AGM) of the conglomerate Reliance Industries Limited (RIL) is imminent following the announcement of fresh investment by Qatar Investment Authority (QIA) in its retail arm, Reliance Retail Ventures Ltd. This investment is set to value Reliance Retail at Rs 8.27 lakh crore, making it one of the top four companies in India by total equity value.

Among the key points of interest at the AGM will be the performance of acquired brands, potential new launches, expansion plans, and acquisitions within the retail business. Investors are also keen to receive updates on the timeline for the separate listing of Reliance Retail. The company had previously indicated plans for listing its telecom and retail arms within five years, a period which has nearly elapsed. While some expect IPO timelines to be shared, BOFA Securities anticipates that this might not be the case. However, brokerage firm CLSA had earlier suggested that either or both arms could go public in the next 12-18 months.

In the previous fiscal year, Reliance Retail witnessed impressive growth, with footfall reaching 780 million and the customer base expanding to 249 million. The business has a significant merchant partner base of three million, operating through 18,040 retail touchpoints and covering 65.6 million square feet of retail space. The company added over 3,300 stores during the year, contributing to a remarkable 50% YoY growth in retail space.

Reliance Retail made notable strides in diversification, entering the personal care categories in the fast-moving consumer goods (FMCG) space. It became the official retailer of GAP in India, targeting the mid-premium segment. The company further expanded its product offerings through acquisitions and partnerships, both locally and globally, including brands like Metro, Campa Cola, Pret A Manger, and Sosyo. The recent launch of the youth-focused fashion retail format, Yousta, also signals Reliance Retail’s commitment to innovation and appeal to a broader customer base.

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