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Reliance Eyes IPO by 2028, Expands Quick Commerce Footprint
12 Dec
Summary
- Reliance Retail aims for IPO by 2028 with aggressive store expansion.
- Debt reduction is a key strategy, aiming for Rs 20,000 crore.
- JioMart focuses on a 30-minute delivery model across 5,000 pincodes.
Reliance Retail is strategically positioning itself for an Initial Public Offering (IPO) slated for 2028. The retail giant is set to substantially grow its footprint by adding around 2,000 stores each year. This expansion is coupled with a firm commitment to financial health, aiming to slash its current debt of over Rs 53,000 crore down to approximately Rs 20,000 crore.
In the burgeoning quick commerce sector, Reliance Retail is focusing on a 30-minute delivery model via JioMart, differentiating itself from the 10-minute delivery trend. This service now reaches 5,000 pincodes, supported by an increasing number of dark stores and its vast network of kirana partners, demonstrating significant quarter-on-quarter order growth.
Analysts note Reliance's existing extensive store presence in tier-II and tier-III cities as a key advantage. While a later entrant in metro quick commerce, Reliance plans to compete by leveraging its infrastructure, broad product assortment, and competitive pricing against established players like Blinkit, Zepto, and Swiggy Instamart.
