Reliance Retail in negotiation with Gulf, Singapore funds on $1.5 billion injection

14 Sep 2023 , 09:30 AM

According to sources familiar with the news, India’s Reliance Retail is in talks with existing investors, including sovereign wealth funds from Singapore, Abu Dhabi, and Saudi Arabia, for a total additional investment of roughly $1.5 billion.

Mukesh Ambani, Asia’s richest person, is the CEO of Reliance Retail, India’s largest retailer. The discussions with investors are part of a $3.5 billion internal target that the corporation hopes to complete by the end of September, according to reports. QIA made a $1 billion investment last month, while KKR & Co announced a $250 million investment last week.

According to reports, Singapore’s GIC, Abu Dhabi Investment Authority (ADIA), and Saudi Arabia’s Public Investment Fund (PIF) are all aiming to invest at least $500 million each in Reliance Retail, which is valued at $100 billion.

All three investors have evaluated the company quite seriously, said some of the sources, who declined to be identified since the negotiations are confidential.

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