Mumbai: Reliance Retail Ventures Ltd on Wednesday announced that Qatar Investment Authority, through a wholly-owned subsidiary, will invest Rs 8,278 crore into RRVL, a subsidiary of Reliance Industries Limited. This investment values RRVL at a pre-money equity value of Rs 8.278 lakh crore.
RRVL, through its subsidiaries and associates, operates Indiaslargest, fastest-growing, and most profitable retail business serving267 million loyal customers with an integrated omnichannel network ofover 18,500 stores and digital commerce platforms across grocery,consumer electronics, fashion lifestyle, and pharma consumptionbaskets.
QIAs investment will translate into a minority equity stake of 0.99%in RRVL on a fully diluted basis.
The previous fund-raise round by RRVL in 2020 from various globalinvestors of an aggregate amount of Rs 47,265 crore was done at apre-money equity value of Rs 4.21 lakh crore.
Reliance Retail Ventures Ltd Director Isha Mukesh Ambani said, We aredelighted to welcome QIA as an investor in Reliance Retail Ventures
Ltd. We look forward to benefitting from QIAs global experience andstrong track record of value creation as we further develop Reliance
Retail Ventures Limited into a world-class institution, driving thetransformation of the Indian retail sector.
The investment by QIA is a strong endorsement of a positive outlooktowards the Indian economy and Reliances retail business model,
strategy and execution capabilities.
QIA CEO Mansoor Ebrahim Al-Mahmoud said, QIA is committed tosupporting innovative companies with high-growth potential in Indias
fast-growing retail market. We are looking forward to Reliance RetailVentures Limited, with its strong vision and impressive growthtrajectory, joining our growing and diverse portfolio of investmentsin India.
