After a $ 1 billion investment by Silver Lake in Reliance retail, looks like Reliance Industries is ready for a new development. Bloomberg News has reported that Reliance Industries has offered to sell a $ 20 billion stake in its retail arm to Amazon.com Inc.
Sources have also reported that Mukesh Ambani of the Reliance industries is willing to sell up to 40% stake in retail business to Amazon. According to reports, Amazon had earlier held talks about investing in Reliance and expressed interest in negotiating potential deals.
Reliance Industries have been continuously developing its retail business and are looking for potential investors. The company has now become the first Indian firm to cross $200 billion in market capitalization.
Reliance Industries also launched the JioMart in May. This is an online grocery service and will be competing with Amazon’s grocery unit and Flipkart’s Walmart.
