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ADIA To Invest Rs 4,966.80 Cr In Reliance Retail Ventures For 0.59% Stake

By VCWorld Bureau on October 7, 2023 • ( 0 )

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A wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA) will invest Rs 4,966.80 crore into Reliance Retail Ventures (RRVL), a subsidiary of Reliance Industries, according to media reports.

This investment by ADIA will translate into an equity stake of 0.59 per cent in RRVL on a fully diluted basis. The fresh investment values RRVL at a pre-money equity value of Rs 8.381 lakh crore. With the latest valuation, RRVL makes it into the top four companies by equity value in the country, reports added.

Reliance Retail Ventures Limited (RRVL) caters to 267 million loyal customers through a well-connected network of more than 18,500 stores and online platforms.

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