Mumbai, October 6
Reliance Industries Limited (RIL) and Reliance Retail Ventures Limited (RRVL) announced on Tuesday that a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA) will invest Rs5,512.50 crore into RRVL, a subsidiary of RIL. This investment values RRVL at a pre-money equity value of Rs4.285 lakh crore. ADIA’s investment will translate into a 1.20% equity stake in RRVL on a fully-diluted basis. With this investment, RRVL has raised Rs37,710 crore from leading global investors, including Silver Lake, KKR, General Atlantic, Mubadala, GIC, TPG and ADIA in less than four weeks.
Reliance Retail, a subsidiary of RRVL, operates India’s largest, fastest growing and most-profitable retail business serving close to 640 million footfalls across its 12,000 stores nationwide. — Agencies