ADIA to invest ₹4,966.80 cr in Reliance Retail Ventures Limited

Isha Ambani said RRVL is pleased to further deepen its relationship with Abu Dhabi Investment Authority.

Updated on: Oct 6, 2023, 21:25:22 IST

By HT News Desk

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Abu Dhabi Investment Authority will invest ₹4,966.80 crore into Reliance Retail Ventures Limited, which is a subsidiary of Reliance Industries Limited. This investment values RRVL at a pre-money equity value of ₹ 8.381 lakh crore, which makes it among the top four companies by equity value in the country. This investment by ADIA will translate into an equity stake of 0.59% in RRVL on a fully diluted basis.

Investment by ADIA will translate into an equity stake of 0.59% in RRVL (AFP)

“We are pleased to further deepen our relationship with ADIA with their continued support as an investor in Reliance Retail Ventures Limited. Their long-standing experience of over decades of value creation globally will further benefit us in implementing our vision and driving transformation of the Indian retail sector. ADIA’s investment in RRVL is a further testament to their belief in the Indian economy and our business fundamentals, strategy and execution capabilities," Reliance Retail Ventures Limited executive director Isha Ambani said.

Commenting on the investment, ADIA's executive director of the private equities department Hamad Shahwan Aldhaheri said the investment aligns with ADIA's strategy.. "Reliance Retail has demonstrated strong growth and adaptability in a market that is evolving at an unprecedented pace. This investment aligns with our strategy of supporting our portfolio companies that are transforming their respective end-markets. We are pleased to partner with the Reliance Group, and increase our exposure to India’s dynamic and fast-growing consumer sector," Aldaheri said.

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HT News Desk
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