COIMBATORE. 01/11/2007:Shoppers on the Reliance Fresh retailer which opened in Coimbatore on Wednesday (31/10/2007)
Photo: K_Ananthan (Digital picture)
| Photo Credit: K_Ananthan
Reliance Retail Ventures Ltd. (RRVL), a subsidiary of Reliance Industries Ltd., mentioned that Qatar Investment Authority (QIA), by way of a wholly-owned subsidiary, has agreed to invest ₹8,278 crore in the corporate. This funding values RRVL at a pre-money fairness worth of ₹8.278 lakh crore, RRVL mentioned in a press release.
QIA’s funding will translate right into a minority fairness stake of 0.99% in RRVL on a fully-diluted foundation.
“The previous fund-raise round by RRVL in 2020 from various global investors of an aggregate amount of ₹47,265 crore was done at a pre-money equity value of ₹4.21 lakh crore” the assertion added.
Isha Mukesh Ambani, Director, RRVL in a press release mentioned, “We look forward to benefitting from QIA’s global experience and strong track record of value creation as we further develop RRVL into a world class institution, driving transformation of the Indian retail sector.”
“The investment by QIA is a strong endorsement of a positive outlook towards Indian economy and Reliance’s retail business model, strategy and execution capabilities,” she mentioned.
Mansoor Ebrahim Al-Mahmoud, CEO, QIA, mentioned, “QIA is committed to supporting innovative companies with high-growth potential in India’s fast-growing retail market. We are looking forward to Reliance RRVL, with its strong vision and impressive growth trajectory, joining our growing and diverse portfolio of investments in India.”
RRVL, by way of its subsidiaries and associates, operates a community of over 18,500 shops and digital commerce platforms throughout grocery, shopper electronics, style & life-style, and pharma consumption baskets.
