Reliance Retail Ventures, the retail arm of billionaire Mukesh Ambani-promoted Reliance Industries, has offered 1.2 per cent stake within the firm to Abu Dhabi Investment Authority (ADIA) for Rs 5,512.50 crore. The funding by Abu Dhabi Investment Authority values Reliance Retail Ventures at a pre-money fairness worth of Rs 4.29 lakh crore, the corporate mentioned in a press launch.
“With this investment, RRVL has raised Rs 37,710 crore from leading global investors including Silver Lake, KKR, General Atlantic, Mubadala, GIC, TPG and ADIA in less than four weeks,” Reliance Retail mentioned.
“We are delighted with ADIA’s current investment and continued support and hope to benefit from its strong track record of over four decades of value creation globally. The investment by ADIA is a further endorsement of Reliance Retail’s performance and potential and the inclusive and transformational New Commerce business model that it is rolling out,” Mukesh Ambani, chairman and managing director of Reliance Industries mentioned in a press release.
Reliance Retail Limited, a subsidiary of RRVL, operates India’s largest, quickest rising and most worthwhile retail enterprise serving near 640 million footfalls throughout its 12,000 shops nationwide.
Last week, Abu Dhabi-based state fund Mubadala invested Rs 6,247.5 crore in Reliance Retail Ventures for 1.40 per cent stake within the firm.
Reliance Industries shares ended 0.05 per cent decrease at Rs 2,210 on the BSE forward of the announcement of funding by ADIA.