Reliance Retail Ventures Limited announced that the Qatar Investment Authority ("QIA") will invest 8,278 crore in RRVL, a subsidiary of Reliance Industries Limited, through a wholly-owned subsidiary. With this investment, RRVL is valued at 8.278 lakh crore in pre-money equity. On a fully diluted basis, QIA's investment will result in a 0.99% minority equity position in RRVL.
The latest round of funding for RRVL in 2020 totaled 47,265 crore from a variety of international investors, with a pre-money equity value of 4.21 lakh crore. Isha Mukesh Ambani, Director, Reliance Retail Ventures Limited, said, “We are delighted to welcome QIA as an investor in Reliance Retail Ventures Limited. We look forward to benefitting from QIA’s global experience and strong track record of value creation as we further develop Reliance Retail Ventures Limited 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."
Mansoor Ebrahim Al-Mahmoud, CEO, QIA, said, “QIA is committed to supporting innovative companies with high-growth potential in India’s fast growing retail market. We are looking forward to Reliance Retail Ventures Limited, with its strong vision and impressive growth trajectory, joining our growing and diverse portfolio of investments in India."
With an integrated omnichannel network of more than 18,500 stores and digital commerce platforms covering the grocery, consumer electronics, fashion & lifestyle, and pharmaceutical consumption baskets, RRVL, through its subsidiaries and associates, operates India's largest, fastest growing, and most profitable retail business.