Reliance Retail IPO in 2027? $200B valuation target
Reliance Industries is gearing up to take Reliance Retail public as early as 2027, aiming for a massive $200 billion valuation.
This comes right after the planned IPO of Reliance Jio in 2026, and if it happens, it'll be one of India's biggest-ever listings.
FY25 performance and rising margins
Reliance Retail runs India's largest retail network, with stores like Reliance Smart, JioMart, Reliance Digital, Trends, and even 7-Eleven.
In FY25, they pulled in $38.7 billion revenue and $2.9 billion operating profit—plus their profit margins are on the rise (up to 8.7% as of June 2025).
All this makes them pretty attractive to new investors.
New RCPL, store closures, early backer exits
To prep for the IPO, they're spinning off their FMCG brands into a new company called New Reliance Consumer Products Ltd (New RCPL)—this helps them focus on building brands and gives investors more clarity.
They're also shutting down underperforming stores and streamlining operations to boost profits before listing.
Early backers like GIC and KKR will get a chance to cash out too when the IPO goes live.