ADIA is part of a financial shareholding consortium
Reliance’s retail unit has raised INR 37,710crore (c. US$ 5.1bn) from financial investors including, Silver Lake, KKR, General Atlantic, Mubadala, GIC, TPG, and ADIA, during the past four weeks.
Abu Dhabi Investment Authority (ADIA), Abu Dhabi’s sovereign wealth fund, announced today to acquire a 1.2% equity stake in Reliance Retail Ventures Limited (RRVL), a subsidiary of Mumbai-based conglomerate Reliance Industries Ltd (RIL), for INR 5,512.5crore (US$ 751mn).
The transaction values the retail holding company at a pre-money valuation of INR 4.285 lakh crore (US$ 58bn).
Reliance’s retail unit has raised INR 37,710crore (c. USD 5.1bn) from financial investors including KKR, General Atlantic, Mubadala, and ADIA, during the past four weeks.
ADIA, one of the largest wealth funds in the world, had invested U$$ 774mn in Mukesh Ambani’s Jio Platforms Limited, for a 1.6% equity stake, announced in June this year.
