Reliance to Sustain Aggressive Acquisitions with $6-7 Billion Investment

Reliance Industries, helmed by Mukesh Ambani, has reportedly spent between $6-7 billion on acquisitions over the past 4-5 years, according to investors and data from platforms like Tracxn. This spending constitutes approximately a tenth of the conglomerate's capital expenditure of $69 billion from fiscal years 2020 to 2024. The acquisitions have been strategic, often involving part or full stakes in companies within new energy and retail sectors. Key acquisitions include substantial investments in Sintex Industries, Shubhalakshmi Polyesters, Faradion, and Stoke Park, among others for Reliance Industries itself. Meanwhile, Reliance Retail has amplified its market footprint by acquiring brands like Just Dial and Clovia, with a total spend exceeding $1.4 billion. Moreover, Reliance has invested heavily into the new energy space, acquiring global technology innovators, topped by the acquisition of Norway's REC Solar Holdings AS for $771 million, and expanding renewable energy interests through a major stake in Sterling and Wilson Renewable Energy for $285 million. Looking ahead, RIL is anticipated to continue this acquisition strategy, aiming for similar financial outlay, to bolster its burgeoning ventures in new energy and retail. This acquisition strategy aligns with Mukesh Ambani's goal, articulated during the company's annual general meeting, to double the conglomerate's size and a key objective to increase revenues and EBITDA for Jio and the retail segment over the coming 3-4 years.