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Special things
- Reliance Retail Venture Ltd. This third investment in two days
- Mubadala is the third investor to invest in the company
- Mukesh Ambani said, we consider partnership with Mubadala special
new Delhi:
Mubadala Investment Company (Mubadala), a government property fund in Abu Dhabi, will acquire 1.4 percent stake in Reliance Retail, a retail arm of veteran industrialist Reliance Industries, by investing Rs 6,247.5 crore.
Reliance Industries The retail arm of Reliance Retail Venture Ltd. (RRVL) This is the third investment in less than two days. Mubadala is the fourth investor to invest in the company. Reliance India Limited (RIL) said in a statement on Thursday that Mubadala’s investment of Rs 6,247.5 crore is based on Reliance Retail’s pre-equity value of Rs 4.285 lakh crore.
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According to the statement, “Mubadala’s investment would be equivalent to a 1.40 percent equity stake in RRVL”. Earlier, on Wednesday, global private equity company General Atlantic acquired 0.84 percent stake in the company by investing Rs 3,674 crore. Also, US investor Silver Lake made a second investment of Rs 1,875 crore. It has so far claimed 2.13 per cent stake in Reliance Retail by investing Rs 9,375 crore. KKR has earlier taken 1.28 per cent of the investment of Rs 5,550 crore. Reliance has sold 5.65 per cent stake in its retail unit since September for 24,847.5 crore. Has raised Rs.
Silver Lake buys 1.75% stake in Reliance Retail for Rs 7,500 crore
RRVL subsidiary Reliance Retail Ltd. (Reliance Retail Ltd) is operating India’s largest and fastest growing retail business. This includes supermarkets, consumer electronics shops, wholesale markets, online grocery stores, Jio Mart. Reliance Retail Limited has more than 12 thousand shops spread across the country. Reliance Retail’s income was Rs 1.63 lakh crore in FY 2019-20. Mubadala’s second investment in subsidiary units of Reliance Industries. Earlier, it has acquired a 1.85 percent stake in Jio Platforms by investing Rs 9,093.60 crore. Reliance Industries Chairman and Managing Director Mukesh Ambani said, “… with a great organization like Mubadala We value partnership. We also acknowledge their belief in our mission of strengthening millions of small retailers, traders and shopkeepers in India’s retail sector through technology. Mubadala’s investment and guidance will be helpful in this. “This investment depends on regulatory and other necessary approvals.
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