India’s richest man managed to raise $20 billion for his telecom unit Jio Platforms in less than three months during a pandemic. Now Mukesh Ambani, chairman of $216 billion conglomerate Reliance Industries, looks close to pulling off another fundraising bonanza for its retail arm—with 12,000 stores, India’s largest retailer.
California-based private-equity firm Silver Lake last week paid $1 billion for a 1.75% stake, valuing the whole at $57 billion. It is also among more than a dozen investors that since April have poured…
