Retail IPO not now: Mukesh Ambani

Mukesh Ambani, Chairman & Managing Director of Reliance Industries Ltd, believes that his dream project of Reliance Retail will not suffer because of political controversy and protests.

Speaking exclusively to NDTV, after being awarded the NDTV Business Leader of the Year, Ambani said the resistance was much less than he had planned for.

"It is lessening and very frankly, when we start any transformational initiative, we always incorporate resistance. Let me tell you that the resistance we have seen is half of what I had expected,” he said.

“The resistance is fast going down as people see the benefits and as we ourselves take upon the responsibility to earn the trust of all the stakeholders, we can create win-win business models," he pointed out.

Asked about when the Reliance Retail IPO would be unveiled he said: "I think that more than the IPO, what's striving us today is that we are not short of capital, so, it is really the scaling up and you know, I am looking forward to a day when we can say that we have created new employment, direct employment to half a million people in retail.”

Unbeatable supply chain

“We are now transforming tens of millions of farmers and we have built a supply chain that the world can envy, just like we did in telecom," he said.

Then how seriously was Reliance Industries considering de-merging Exploration and Production (E&P) activities to unlock value? Ambani did not commit, but indicated that this may not immediately be on the table.

"We always look at options to generate more value," he said, "right now we think that the E&P potential for both Reliance and India are great and we think that we are in the business of creating value. Let us first create maximum value and then we will talk about unlocking value.

Courtesy:ndtv.com
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