The Indian conglomerate Reliance Retail has put the US-based investment firm Carlyle and the Japanese holding company SoftBank on a waiting list to invest in the company.
According to sources, the Carlyle and SoftBank have expressed their interest to invest in the Indian retail giant and the company has asked them to wait since it is already engaged in discussions with other investors firms.
The Asian millionaire Mukesh Ambani has already secured $20 billion from his digital service investors. The Silver Lake Partners, a backer in Jio Platforms Ltd., has agreed to invest $1 billion.
The Emirati state-owned Mubadala Investment Co, which is also Jio’s investor is considering to invest about $750 million in Ambani’s Reliance Retail and the Abu Dhabi Investment Authority and Saudi Arabia’s Public Investment Fund is also in plan to make investments.
Such a strong interest from the side of Jio’s existing investors indicate that there may not be enough for outsiders.
Reliance Industries had proposed to sell ten percent of its shares in Reliance Retail and almost all of the $5.7 billion worth shares have been taken by now.
The major allotment is alleged to go to American tech giant Amazon and Reliance is planning to sell about $20 billion worth shares which are equal to 40 percent of the holding, according to reports.
Sources suggest that the potential investors Carlyle and SoftBank could still make investments in Reliance Retail if others break their tie.