Reliance Retail eyes whopping $1.5bn investment from Gulf, Singapore funds
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Reliance Retail, India's largest retailer led by the country's wealthiest individual, Mukesh Ambani, is currently engaged in discussions with existing investors, including sovereign wealth funds from Singapore, Abu Dhabi, and Saudi Arabia, reported Reuters. Ambani's goal is to secure approximately $1.5 billion in new investments. This move is part of Reliance Retail's broader strategy to raise a substantial sum of $3.5 billion, a target it hopes to achieve by the end of September.