QIA picks up 0.99% stake in Ambani's Reliance Retail for Rs 8,278 crore

Qatar Investment Authority (QIA) said it will invest Rs 8,278 crore or approx $1 billion in Reliance Retail Ventures Limited (RRVL), a subsidiary of Mukesh Ambani's Reliance Industries, for a minority equity stake of 0.99% on a fully diluted basis.

Reliance Retail operates India's largest retail business with a network of over 18,500 stores and digital commerce platforms across grocery, consumer electronics, fashion and lifestyle, and pharma. 

"We are delighted to welcome QIA as an investor in the 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 the transformation of the Indian retail sector," said Isha Mukesh Ambani, Director of Reliance Retail Ventures Limited.

Mansoor Ebrahim Al-Mahmoud, CEO of 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.”

Qatar Investment Authority is also an investor in Gautam Adani's Adani Green Energy. Apart from this, QIA is also an investor in Uber, Flipkart, Fanatics, Byju's, Trendoyl, and Celonis, among others.

Also Read:

• PhonePe partners with Cloudera for flexible hybrid data management