Mukesh Ambani Prepares Reliance Retail for $200 Billion IPO Following Jio Listing

Mukesh Ambani is orchestrating a dual-track public offering strategy for Reliance Industries' crown jewels. After announcing Reliance Jio's 2026 IPO, the conglomerate has begun streamlining Reliance Retail for a potential 2027 listing at a staggering $200 billion valuation. The restructuring involves demerging the FMCG division into Reliance Consumer Products and optimizing the retail network by shuttering underperforming stores.

The carve-out leaves Reliance Retail focused on high-growth formats including Reliance Digital, JioMart, and 7-Eleven franchises. This surgical restructuring aims to boost margins ahead of what could become India's largest market debut. Sovereign wealth funds from Singapore, Abu Dhabi, and Qatar alongside private equity giants KKR and Silver Lake await exit opportunities through the listing.