Abu Dhabi Investment Authority (ADIA) will invest Rs 5,512.5 crore in Mukesh Ambani-controlled Reliance Industries into its retail division, the latest in a string of such investments in recent weeks.
The investment by ADIA in Reliance Retail Ventures Ltd (RRVL) will translate into a 1.20 per cent equity stake, the Indian firm said in a statement. “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,” the statement said.
Mukesh Ambani, Chairman and Managing Director of Reliance Industries, said, “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”.
Reliance Retail Ltd, a subsidiary of RRVL, currently operates close to 11,784 stores across the country in nearly 7,000 towns, with 640 million footfalls across core categories of supermarkets, consumer electronics chain stores, cash and carry wholesale business, fast-fashion outlets and online grocery store JioMart.
As ADIA joins a posse of global investors buying stakes in Reliance retail, the graph below explains the eight deals made in the last four weeks:
News18 Creative Graphics
News18 Creative Graphics
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