Reliance Industries
Reliance Industries is preparing to launch its retail unit in the stock market in 2028. The company has internally set this year as the IPO target and for this has started the process of making the entire network and business model fast, profitable and light. Under this strategy, the company plans to add about 2,000 new stores every year on a net basis and gradually close non-profitable stores.
Focus also on debt reduction
Before the IPO, the company has taken steps towards strengthening the balance sheet. Reliance Retail’s non-current debt declined to ₹20,464 crore in FY25, which is much lower than ₹53,546 crore in the previous financial year. Inter-corporate deposits received from the holding company have also declined from ₹40,164 crore in FY24 to ₹5,655 crore in FY25.
A senior official associated with the company said that the expansion of retail business will now be done on a measured basis so that the store network remains profitable and the valuation of the company is also strengthened. According to the official, the IPO of telecom business will come next year and the IPO of retail will be brought after two years.
Big game in Quick Commerce
The company also wants to strengthen its hold in the rapidly growing quick commerce market. Currently, Reliance Retail makes approximately 10 lakh quick deliveries every day, out of which 90% of the orders reach the customer in less than 30 minutes. To further strengthen this goal, Smart Point grocery stores in big cities are being converted into dark stores, so that faster delivery can be possible.
balance of store network
After rapid expansion in FY22 and FY23, the company closed several unprofitable stores in FY24 and FY25. Net 2,844 stores were added in FY23, which decreased to 796 in FY24 and 504 in FY25. As of September quarter, the company has 19,821 stores across the country. As part of the pre-IPO restructuring, the company has separated its FMCG unit and made it a direct subsidiary of Reliance Industries. This change is effective from December.