Qatar Investment Authority (QIA) is set to inject a substantial sum of Rs. 8,278 crore into Reliance Retail Ventures Limited (RRVL), the retail subsidiary of Reliance Industries. This significant investment, facilitated through QIA subsidiary, places RRVL at a pre-money equity valuation of Rs. 8.278 lakh crore, marking a substantial endorsement of the company’s potential.
RRVL is the driving force behind India’s most expansive retail business, boasting an integrated omni-channel network that spans over 18,500 stores. QIA’s financial commitment will translate into a 0.99 per cent minority equity stake in RRVL on a fully diluted basis.
Isha Mukesh Ambani, Director of RRVL, expressed her enthusiasm regarding the investment, welcoming QIA as a strategic investor. She noted the prospect of leveraging QIA’s global expertise and remarkable track record in value creation to further advance RRVL into a world-class institution. This partnership aims to revolutionise the Indian retail sector, reflecting confidence in the Indian economy and Reliance’s retail strategy and execution capabilities.
Mansoor Ebrahim Al-Mahmoud, CEO of QIA, underlined their dedication to supporting innovative, high-growth potential companies within India’s rapidly expanding retail landscape. QIA looks forward to adding Reliance Retail Ventures Limited, with its visionary leadership and impressive growth trajectory, to its diverse portfolio of investments in India.
In 2020, RRVL executed a historic fundraising effort by securing Rs. 47,265 crore from global private equity funds for a 10.09 per cent stake, valuing the company at over Rs. 4.2 lakh crore.
