AIDA Pumps Rs 4,966.80 Crore into Reliance Retail Ventures for 0.59% Stake

16 Oct 2023 , 11:49 AM

Reliance Industries shares declined by 0.4% in early trading. Abu Dhabi Investment Authority (ADIA) infused Rs 4,966.80 crore into Reliance Retail Ventures, acquiring a 0.59% stake on October 13.

This investment valued Reliance Retail Ventures (RRVL) at a pre-investment equity value of Rs 8.381 lakh crore, positioning it among the country’s top four companies by equity value. Isha Ambani, Executive Director at RRVL, expressed gratitude for ADIA’s continued support and belief in the Indian economy and RRVL’s business fundamentals.

RRVL operates an extensive network of 18,500+ stores and digital commerce platforms across various consumer sectors. For the fiscal year ending on March 31, 2023, RRVL reported a consolidated turnover of Rs 260,364 crore and a net profit of Rs 9,181 crore.

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