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Mukesh Ambani gets 9th investor for Reliance Retail, Saudi Arabian company to invest Rs 9,555 crore

The retail arm of Reliance owned by Mukesh Ambani has so far sold 8.22 per cent stake to 8 investors.

Shehnaz by Shehnaz
December 26, 2020
in Industries
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4 out of top 10 companies, m-cap increased by Rs 1.15 lakh crore, RILs benefit the most
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Reliance Industries (RIL) subsidiary Reliance Retail Ventures Limited (RRVL) will invest 9555 crore in Saudi Arabia’s Public Investment Fund. The company made this announcement on Thursday. The public investment fund (PIF) will have an equity stake of 2.04 per cent in RRVL after this investment. This year will be PIF’s second investment in a Reliance subsidiary. The pre-money equity value of RRVL is 4.587 lakh crore. So far, an investment of 4.28 lakh crore has been made in this company this year.

8.22% stake of 8 investors

Mukesh Ambani-owned Reliance retail unit has so far sold 8.22 per cent stake to 8 investors for Rs 37,710 crore. PIF will be the ninth investor to invest in it. RRVL also holds marquee investors such as Silver Lake Holdings, KKR, General Atlantic, Mubadla, GIC, TPG and Adia.

Earlier, PIF had invested Rs 11,400 crore in Reliance’s digital services arm Jio Platform. This investment came this year. With this investment, PIF became 2.32 per cent stake in Jio platform.

Millions of small shopkeepers will benefit – Mukesh Ambani

Announcing the investment of PIF, Mukesh Ambani said that he had a long association with Saudi Arabia. PIF has been a pioneer in the economic transformation of the Kingdom of Saudi Arabia and now, as a valuable partner of Reliance Retail, wants to make a big change in the country’s retail sector. Ambani said that this will bring a big change in the lives of all Indians and millions of small shopkeepers will also benefit.

RIL: Reliance shares fall below Rs 1950, is now the right time to fast or stop investing

Fastest growing retail company

Reliance Retail is the holding company of all the retail assets of RIL. According to Deloitte’s Global Powers of Retailing 2020 Index, it is the fastest-growing retail company worldwide from FY 2013 to FY 2018. RRVL’s revenue in the second quarter of this financial year was 36,566 crore. It does business through 12 thousand stores across the country.

Tags: Mukesh AmbaniMukesh Ambani ReliancepifPublic Investment FundReliancereliance mukesh ambanireliance retailretailrrvlSaudi ArabSaudi Arabiasaudi arabia company investment in reliance
Shehnaz

Shehnaz

Shehnaz is a Corporate Communications Expert by profession and writer by Passion. She has experience of many years in the same. Her educational background in Mass communication has given her a broad base from which to approach many topics. She enjoys writing around Public relations, Corporate communications, travel, entrepreneurship, insurance, and finance among others.

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