Reliance Retail eyes IPO by 2027-28
Reliance Retail is gearing up to go public by 2028. The company plans to open about 2,000 new stores each year, while shifting focus from rapid expansion to making its business more profitable.
As part of the prep, Reliance Retail has cut its long-term debt sharply—from ₹53,546 crore in FY24 down to ₹20,464 crore for FY25.
What does Reliance Retail actually do?
With nearly 20,000 stores across India, Reliance Retail is everywhere—from groceries to fashion.
Lately, it spun off its FMCG (fast-moving consumer goods) business into a separate company under the Reliance umbrella.
The team is also doubling down on quick commerce and turning some grocery outlets into "dark stores" (think: delivery hubs), aiming for faster deliveries.
Other key numbers
In FY25, Reliance Retail pulled in ₹90,018 crore in revenue—an 18% jump from last year—and profits rose by 17% to ₹3,439 crore.
Instead of just opening more stores non-stop or shutting them down quickly, they're now focused on smarter growth and boosting profit margins as the IPO approaches.