Ultimate magazine theme for WordPress.

Abu Dhabi Investment Authority to invest 5500 crore in Reliance Retail

0

new Delhi. The Abu Dhabi Investment Authority has also come forward to invest in Reliance Retail under Mukesh Ambani. In this venture, the 7th foreign investor has appeared in less than a month. The Abu Dhabi Investment Authority also invested in the Jio platform. So far, investors who have invested in Jio platform have come up in Reliance’s retail business. The special thing is that Reliance Retail has raised more than Rs 37700 crore in less than a month through foreign investment. Let us tell you that companies like Silver Lake, KKR, General Atlantic, Mubadla, GIC and TPG have invested before the Abu Dhabi Investment Authority.

Also read: After the appointment of three economists in the RBI MPC, the meeting will be held from Wednesday, the results will come on 9

1.2 percent stake
India’s largest retailer has invested Rs 5,512.5 crore at a pre-money equity value of Rs 4.285 lakh crore for a 1.2 per cent stake in Reliance Retail Ventures Limited by Abu Dhabi Investment Authority. According to a statement by RIL, RRVL has now raised Rs 37,710 crore from major global investors such as Silver Lake, KKR, General Atlantic, Mubadala, GIC, TPG and ADIA.

Also read: Market filled investors, gain 4.32 lakh crore in four days

Mukesh Ambani, Chairman and Managing Director of Reliance Industries, said, “We are pleased with the current investment of the Abu Dhabi Investment Authority and hope to continue to benefit and support from a strong track record of over four decades of value creation globally. The investment by the Abu Dhabi Investment Authority is an endorsement of Reliance Retail’s performance, capability and inclusive and transformative new commerce business model, demonstrating this clearly.

Also read: Real days of real estate company will come in Corona era, know what are the reasons

Hamad Shahwan Aldhari, executive director of the private equity department at ADIA, said, “Reliance Retail has rapidly established itself as one of the leading retail businesses in India and is leveraging both its physical and digital supply chain. Has strengthened its position for growth. This investment is in line with our strategy to invest in market-leading businesses in Asia, linked to the region’s consumption-driven growth and rapid technological advances.

Also read: After TCS, this company of Ratan Tata made the earnings of people, know how the profits are being made

Reliance Retail, a subsidiary of RRVL, operates India’s largest, fastest-growing and most profitable retail business, with 640 million footfalls across its nearly 12,000 stores across the country. Oil-to-telecom group Reliance Industries is diversifying its business and expanding its retail presence with a bang-up listing. Amidst the coronovirus epidemic, the company pushed the grocery business and launched Geo Mart. Which will directly compete with Amazon and Flipkart. Recently, it has also acquired a netmeds’ stake in the online pharmacy for Rs 620 crore by making its presence felt.

.

Leave A Reply

Your email address will not be published.