Mukesh Ambani Overhauls Reliance Retail With Layoffs, Cost Cuts Ahead of IPO
Asia’s richest man Mukesh Ambani is overhauling a retail empire that sells everything from $0.20 soda to $5,900 Versace dresses, as he seeks to reassure investors antsy for an exit option in the form of a public listing.Slowing sales is a concern for Reliance Retail Ventures Ltd. after brokerages pegged its valuation as low as $50 billion — half the amount at which it last raised money two years ago....
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