India: PE firm Silver  Lake’s  valuation for Reliance Retail is not gold-plated

After Reliance Industries Ltd (RIL) raised a record ₹1.5 trillion by selling stakes in Jio Platforms Ltd (JPL), expectations have been running high with regard to stake sales in the group’s retail venture. “In our view, the (RIL) stock price at the current level of ₹2,100 is likely pricing in a $75-80 billion value for Reliance Retail,” analysts at JP Morgan said in a 9 September report, ahead of the deal announcement.