Business
Qatar Investment Authority To Invest Rs 8,278 Crore In Reliance Industries's Retail Arm
Isha Ambani, the head of Reliance Retail
Reliance Industries has announced that Qatar Investment Authority, through a wholly-owned subsidiary, will invest Rs 8,278 crore into its retail arm Reliance Retail Ventures Limited (RRVL).
This investment values Reliance Retail at a pre-money equity value of ₹ 8.278 lakh crore, the company said in a statement.
Reliance Retail, through its subsidiaries and associates, operates India's largest retail business with over 18,500 stores.
"QIA’s investment will translate into a minority equity stake of 0.99 per cent in RRVL on a fully-diluted basis," the company said.
The previous fund-raise round by RRVL in 2020 from various global investors of an aggregate amount of Rs 47,265 crore was done at a pre-money equity value of Rs 4.21 lakh crore, it added.
RRVL director Isha Mukesh Ambani said, “We are delighted to welcome QIA as an investor in Reliance Retail Ventures Limited. We look forward to benefitting from QIA’s global experience and strong track record of value creation as we further develop Reliance Retail Ventures Limited into a world class institution, driving transformation of the Indian retail sector. The investment by QIA is a strong endorsement of a positive outlook towards Indian economy and Reliance’s retail business model, strategy and execution capabilities.”
Mansoor Ebrahim Al-Mahmoud, CEO, QIA, said, “QIA is committed to supporting innovative companies with high-growth potential in India’s fast growing retail market. We are looking forward to Reliance Retail Ventures Limited, with its strong vision and impressive growth trajectory, joining our growing and diverse portfolio of investments in India".
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