27 Sep 2023 , 01:13 PM
Abu Dhabi Investment Authority (ADIA) is considering further investment in Mukesh Ambani’s Reliance Retail, eyeing a $600 million stake. ADIA had initially invested Rs 5,512.50 crore in Reliance Retail Ventures, securing a 1.2% stake in October 2020.
Global investment firm KKR recently subscribed Rs 2,069.50 crore, increasing its RRVL shareholding from 1.17% to 1.42%. Qatar Investment Authority (QIA) also invested Rs 8,278 crore for a 1% stake in RRVL, valuing the company at Rs 8.278 lakh crore.
In 2020, RRVL raised Rs 47,265 crore from global private equity funds, marking a significant fundraising event. Reliance Retail Ventures focuses on acquisitions, franchise rights, and infrastructure expansion, recently acquiring the India business of Metro Cash and Carry.
In the latest annual report, RIL mentioned Reliance Retail’s impressive milestone of surpassing a billion transactions and growing its registered user base to 249 million. Reliance Retail operates over 18,500 stores and digital commerce platforms, contributing 18% to the FY23 revenue, which totaled Rs 2.60 lakh crore.
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