Reliance Industries Ltd (RIL), the country's largest private-sector conglomerate, has infused fresh capital of Rs 11,650 Cr as a promoter in its retail arm, Reliance Retail Ventures, for expanding its business in grocery, consumer electronics, fashion and lifestyle.
Reliance Retail Venture, a holding company for Group's retail business, has big expansion plans. The recent acquisition of Kishore Biyani's retail, wholesale and logistic business clearly shows the organic as well as inorganic ambitions of Ambanis in the modern retail business. Two big trends that are driving high growth in modern retail are digitisation and the gradual shifting of unorganised retail into organised retail.
The fresh fund infusion of Rs 11,650 Cr is part of the company's plan to increase the capital base. The company had recently increased its authorised capital base from Rs 10,000 Cr to Rs 25,000 Cr.